Economic experts are beginning to consider the impact of a Trump presidency on the world's tourism. The Caribbean, in particular, has expressed concern regarding the potential economic effects that may accompany the president-elect's presidency.
A report by Travel Pulse stated that the Carribean's gross domestic profit is highly dependent on tourism and travel. The Caribbean Hotel and Tourism Association (CHTA) has stated that tourism is a common denominator in the economies of both The Caribbean and the US.
The CHTA has stated that tourism is one of the world's fastest growing industries, contributing almost ten percent of the world's GDP. It was also noted that tourism has an even greater impact on the Caribbean, attributing more than thirteen percent of total employment.
Financial crashes caused by natural calamities in the Caribbean have caused major delays in the country's hotel and resort development. However, the increasing rate of tourism is set to bring the Caribbean economy back to where it was.
However, countries such as the Caribbean anxiously await the decision regarding new US travel and tourism policies. Countries are also closely monitoring the world power's economic stability and employment rate.
Though Trump's platforms are more focused on US immigration and labor laws, it is likely that the president-elect will opt not to follow the traditional Republic economic pattern. As such, common Republican mixed policies including free trade reduced regulation and the abolishment of taxes are not likely to be implemented.
The president-elect's plans for the US economy have remained unclear to the general public. However, he has promised to spend almost $1 trillion on infrastructure, providing additional work to the American people.
As stated by the New York Times, Trump's capitalized ideals on "protectionism" may result in a decline in America's travel industry, maintaining high travel costs for unrivalled US airlines. On the other hand, a successful implementation of Trump's policies may result in better financial stability for citizens, thus promoting travel and tourism to other countries.
With The Caribbean being one of North America's most favoured tourism destinations, the aforementioned percentage of Caribbean GDP is highly dependent on the approval or rejection of the US president-elect's new travel policies. However, experts maintain that there is no reason for alarm as these proposals will likely be rejected in US politics.
This article is copyrighted by Travelers Today, the travel news leader
