How Much Money Does the Cruise Industry Contribute to the Caribbean Economy?

Quantifying the impact of cruise tourism

How much does cruise tourism impact the Caribbean economy?

Something in the amount of $3.16 billion, according to Business Research and Economic Advisors, which launched its analysis of spending related to cruise tourism and its concomitant impact on the region’s economy.

The study, which was engaged by the Florida-Caribbean Cruise Association, included 35 participating destinations in the wider region.

According to the study, cruise tourism accounted for $3.16 billion in direct expenditures, 75,050 jobs and $976 million in employee wages in the 2014/2015 cruise year.

The region saw a total of 23.6 million passengers disembarking ships and visiting the destinations in the same period.

The average expenditure per passenger increased to $103.83, according to the report, an 8.25 percent improvement over the most recent study in 2011/2012.

About 75 percent of passenger spending came in four categories: watches and jewelry ($877 million), shore excursions ($551 million), clothing ($238 million), and food and beverages ($189 million).

There were also 4.5 million crewmembers that visited the region, who spent $302 million on goods and services, or an average of $67.10.

Payments to ports for passenger taxes and port services, along with payments to local businesses for supplies and services, accounted for $400.8 million.

See more at http://caribjournal.com/