Macroeconomic Forecast Barbados

February 2007 | Macroeconomic Forecasts

BMI View: The all important tourism industry registered an estimated 2.5% expansion in 2006, compared to a disappointing 2.2% contraction in the previous year, as long-stay visitors from the UK, USA and Canada increased. This year's Cricket World Cup (CWC), the final of which will be staged in Barbados, should inject further momentum into the industry, while Air Jamaica 's decision to begin a daily non-stop service connecting the island with New York should ensure a steady inflow of tourists to offset declining cruise ship arrivals. Driven by this buoyant industry, economic growth is set to reach an impressive 5.0% in 2007.

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