An Investigation of the Determinants of Tourism Demand to Saint Lucia

Tourism is the largest source of foreign exchange to Saint Lucia and has a substantial direct and indirect impact on economic activity. Consequently, identifying what drives the demand for the Saint Lucian product is crucial in assessing future sector performance. More specifically, a robust understanding of the determinants of tourism demand to St. Lucia can ensure consistency with marketing regimes and provide avenues for industry stakeholders to remain competitive and achieve a sustainable sector. This piece therefore intends to model tourist arrivals, by main source market, in an econometric VAR. The VAR estimated results generated indicated that the income variables explained more of the variation in US stay-over arrivals, whereas the price variables were found to better explain the disparity in the levels of UK and Canadian stay-over arrivals to Saint Lucia. Download full report

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