Staying Afloat in the Tropics

SUMMARY

This study examines the extent to which the top ten Caribbean destinations market their tourism product using their national tourism organization Websites. A comparison of the national tourism organization Websites of the Caribbean Tourism Organization member countries will be conducted to determine the differences in technical aspects, user friendliness, site attractiveness, and marketing effectiveness using the modified Balanced Scorecard (BSC) for Website evaluation. The modified BSC results were next used to develop and test a model of Caribbean NTO Website visitor retention. Third-order confirmatory factor analysis (CFA) was used to test the model. The model showed that the four aspects which comprise the modified BSC are important in the development of Caribbean NTO Websites.     

To Hell and Back: towards protecting our natural assets through tourism?

We have neglected our past and present, so that the future of our natural and built heritage is uncertain. Recent and current work, including an EU-supported joint project between the National Trust for the Cayman Islands, National Parks Trust of the Virgin Islands, the Turks and Caicos National Trust and UK Overseas Territories Conservation Forum, are providing a future for natural and historical assets. We can now contemplate our future with a sense of optimism. We can imagine grandparents walking with their grandchildren, telling them tales of how their ancestors built forts with only their hands; school teachers leading trails of excited children through forests that have provided ecosystem services to generations.

The approach is to improve facilities for conducting ecologically sustainable visitor tours, with trained staff generating self-sustaining income; to provide and implement environmental educational and public awareness material, involving local consultations and designed to provide information to decision-makers, developers and planning authorities; and to implement conservation measures to provide increased protection for key vulnerable ecosystems.

In Cayman, one can send a postcard from a town called Hell. The preservation and sustainability generated through these projects is bringing the natural and built heritage a future, perhaps on a route to Hell and Back.     

International ecotourism and economic development in Central America and the Caribbean

Using annual data for the period 1995–2012 for seven Central American and Caribbean countries, six different open-economy growth models that allow for international (eco-) tourism are estimated using panel-data techniques. Two main results of the investigation are that international tourist arrivals per capita have a highly significant impact on real GDP per capita, and also that five different sustainability indicators interacted with international tourism have a positive impact on economic development. Furthermore, quantile regression shows that lower and medium income deciles of the population in particular benefit from international (eco-) tourism. The results are complemented by very similar findings for a set of 12 Central American and Caribbean countries using only two sustainability indicators, thus corroborating the validity of the specification. In addition, control variables are also generally significant and they feature the algebraic signs expected from economic theory.     

加勒比巨灾风险保险基金的运作及其借鉴

加勒比巨灾风险保险基金(CCRIF)颇具创新特色:是世界上第一个为灾后政府迅速提供短期流动性支持的政府性质的救灾保险基金;是世界上第一个多国参与的区域性巨灾共同体;是世界上第一个选取参数指数为触发条件的共保体。我国是世界上自然灾害最严重的国家之一,CCRIF的成功运作能够对我国如何建立自然灾害救济基金具有借鉴意义。     

Measuring differential forest outcomes: A tale of two countries

This paper empirically analyzes the growth/deforestation trajectories of El Salvador and Puerto Rico, two Latin American tropical developing countries which have witnessed widely different economic and forest scenarios since the early 1960s. Although both countries began the period with relatively abundant forest resources and similar levels of development, only Puerto Rico witnessed an increase in forest cover during this period. After briefly discussing each country's respective socioeconomic and land use changes, the paper empirically measures possible factors mediating these different deforestation outcomes. Empirical results presented here suggest that Puerto Rico's forest success has depended significantly on its rapid economic growth and development, in particular, its high levels of industrialization, social welfare provision, and domestic investment. Having successfully avoided the scarcity-induced forms of forest exploitation that have destroyed El Salvador's forests, Puerto Rico must now devote the considerable resources generated by this growth to protecting its forest cover from the negative effects of unrestricted urban and industrial development.     

Cruise ship industry — patterns in the Caribbean 1880–1986

This article examines the historical development of the Caribbean cruise-ship industry from 1880 to the present. Cruise-ship itineraries from the New York Times and other sources were used to derive potential passenger statistics by ports of call and embarkation. The spatial development and growth of this sector in the Caribbean since World War II are shown and discussed in the accompanying figures and text. The highly dynamic nature of the industry, particularly with respect to changing ports of origin is revealed. Major influences in the patterns include legislation, external economic factors and political developments, as well as market shifts.     

Organizational Buyer Behavior of Caribbean Food and Beverage Importers

Abstract

This paper examines the behavior of Caribbean importers with respect to the purchase of branded food and beverage products manufactured in the Canadian province of Ontario. The determinants of the import purchase decision are identified, and the import response of buyers to changes in the importance rating of key purchase criteria is quantified. The study is based on personal interviews with forty-eight Caribbean food and beverage purchasing executives. The results indicate that price and requests from local customers are the most important decision criteria used by Caribbean importers. Also, firms with a recent history of importing Ontario food and beverage products place a higher level of importance on brand image and package design. A one-unit decrease in the importance rating of the packaging design variable was found to increase the odds of a firm importing from Ontario by thirty percent.     

Institutional determinants of bid–ask spreads in Caribbean offshore stock exchanges

My study contrasts the influence of firm level adoption of shareholder value governance against that of formal institutional quality on listed firm’s bid ask spread in a unique sample of eight Caribbean offshore stock exchanges. Using panel data from 146 listed firms from 2004 to 2017 my findings reveal the importance of Worldwide Governance Indicator dimensions of corruption control and regulatory quality in explaining firm’s bid ask spreads. Furthermore, formal institutional quality is consistently statistically superior in explaining firm’s bid ask spreads than firm level governance adoption. My findings emphasise the importance in considering political economy in offshore financial markets.     

In Search of Competitive Advantage in Caribbean Tourism Websites

Abstract

The intense competitiveness of the global tourism industry increasingly demands the most effective possible marketing for individual destinations. The strategic management literature suggests that competitive advantage can be gained through capitalizing on a destination's unique attributes. In marketing terms, this translates as “competitive positioning.” To what extent do the individual destinations of the Caribbean seek to competitively position themselves as unique attractions among their many competitors? This paper returns to the concept of the Unique Selling Proposition (USP) as a practical and straightforward framework for analyzing distinctiveness in tourism marketing. An exploratory analysis of web-based marketing in the Caribbean suggests widespread failure of destinations to market themselves in terms of unique competitive positioning. The analysis also reveals several exemplary models of the USP concept in tourism marketing, suggesting opportunities for greater regional cooperation through stronger individual destination identities.