02180cas a2200277 a 4500 AALejournalIMF014880 230101c9999 xx r poo 0 0eng d 5.00 USD 9781498351560 1018-5941 BD-DhAAL BD-DhAAL Laframboise, Nicole. Revisiting Tourism Flows to the Caribbean : What is Driving Arrivals? / Nicole Laframboise, Nkunde Mwase, Joonkyu Park, Yingke Zhou. Washington, D.C. : International Monetary Fund, 2014. 1 online resource (27 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The Caribbean share of the global tourism market has been declining. This study examines what is driving tourism flows. It estimates the determinants of tourism and explores variations based on sample differences, and also constructs a static nominal price comparison index. The paper finds that: (i) tourism arrivals and expenditure are sensitive to both price and income factors in source markets; (ii) price and income elasticities of tourism have declined since 2008; (iii) price elasticity is statistically insignificant for 'high-end' destinations; and (iv) the nominal cost of an average one week beach holiday in the Caribbean is higher than in other beach destinations around the world. These results point to the need for structural reforms to raise product quality, cost reduction or containment in 'low-end' destinations, including possibly via exchange rates, and an adjustment in aggregate consumption to adapt to the implications of a lower contribution to GDP from tourism. Mode of access: Internet Mwase, Nkunde. Park, Joonkyu. Zhou, Yingke. IMF Working Papers; Working Paper ; No. 2014/229 Full text available on IMF http://elibrary.imf.org/view/journals/001/2014/229/001.2014.issue-229-en.xml IMF e-Library