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Vacation Over :, Implications for the Caribbean of Opening U.S.-Cuba Tourism, Rafael Romeu

An opening of Cuba to U.S. tourism would represent a seismic shift in the Caribbean's tourism industry. This study models the impact of such a potential opening by estimating a counterfactual that captures the current bilateral restriction on tourism between the two countries. After controlling for natural disasters, trade agreements, and other factors, the results show that a hypothetical liberalization of Cuba-U.S. tourism would increase long-term regional arrivals. Neighboring destinations would lose the implicit protection the current restriction affords them, and Cuba would gain market share, but this would be partially offset in the short-run by the redistribution of non-U.S. tourists currently in Cuba. The results also suggest that Caribbean countries have in general not lowered their dependency on U.S. tourists, leaving them vulnerable to this potential change
Table Of Contents
Contents; I. Introduction; II. Adapting Gravity Trade Theory; III. Data; IV. Estimation; V. Conclusions; Tables; 1. Descriptive Statistics of Caribbean Tourism; 2. Destination Tourist Base Concentration; 3. OECD and Caribbean Country Groups; 4. Hurricanes Making Landfall, 1995-2004; 5. Gravity Estimates of Caribbean Tourism; 6. Cuba: Estimates of Bilateral Tourist Arrivals; 7. The Impact on the Caribbean of Opening U.S. tourism to Cuba; 8. Alternative Estimates of U.S.-Cuba Unrestricted Tourism in the Caribbean; 9. Model 1: Projected Arrivals from Gravity Estimates
Literary Form
non fiction
1st ed.
Description based upon print version of record
Physical Description
1 online resource (64 p.)
Specific Material Designation
Form Of Item

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