destination’s gain is another one’s loss, and hence an orderly and gradual US-Cuba opening up should not affect the vital airlift services on which all Caribbean destinations depend for their tourism exports. This paper follows the work of Romeu ( 2014 , and 2008 ) to estimate the potential impact on tourism flows in the Caribbean following a full liberalization of travel between the US and Cuba. In these papers, a gravity trade model is used to analyze Caribbean tourism, with results indicating that opening US-Cuba tourism will result in an increase in US tourists to
Front Matter Page Western Hemisphere Department Table of Contents ABSTRACT I. INTRODUCTION II. STYLIZED FACTS AND LONG TERM TRENDS IN CARIBBEAN’S TOURISM III. THE DATA AND THE GRAVITY MODEL OF TOURISM A. The Gravity Model B. The Data IV. MEASURING THE IMPACT OF US-CUBA TOURISM ON THE REST OF THE CARIBBEAN A. Estimating US-Cuba tourism flows V. CONCLUSIONS AND POLICY IMPLICATIONS VI. REFERENCES VII. APPENDIX FIGURES Caribbean Tourist Arrivals, 1995–2014 Evolution of the Caribbean Tourism Market, 1995–2014 Canadian
2,431 9,103 Puerto Rico 1.46 134,184 1,693 3,720 10,843 150,440 Source: Caribbean Tourism Organization and author’s calculations. References Acevedo , Sebastian , Trevor Alleyne , and Rafael Romeu . 2017 . “ Revisiting the Potential Impact to the Rest of the Caribbean from Opening US-Cuba Tourism .” IMF Working Paper 17/100 , International Monetary Fund , Washington, DC . Acevedo , Sebastian , Lu Han , Marie Kim , and Nicole LaFramboise . 2016 . “ Flying to Paradise: The Role of Airlift in
Cuevas, Izabela Karpowicz, Carlos Mulas-Granados, Mauricio Soto Working Paper 17/100 Revisiting the Potential Impact to the Rest of the Caribbean from Opening US-Cuba Tourism Sebastian Acevedo Mejia, Trevor Serge Coleridge Alleyne, Rafael Romeu Working Paper 17/101 Central Bank Legal Frameworks in the Aftermath of the Global Financial Crisis Ashraf Khan Working Paper 17/102 Macroprudential Liquidity Stress Testing in FSAPs for Systemically Important Financial Systems Andreas A. Jobst, Li Lian Ong, Christian Schmieder
to some of the estimates in the literature, including the estimates presented here, to predict the pace of recovery and study the impact of different policy measures. References Acevedo , M. S. , Trevor S. , and Coleridge A , 2017 , “ Revisiting the Potential Impact to the Rest of the Caribbean from Opening US-Cuba Tourism ,” IMF Working Paper 17/100 ( Washington : International Monetary Fund ). Arslanalp , S. , R. Koepke and J. Verschuur , 2021 , “ Tracking Trade from Space: An Application to Pacific Island Countries
Paper WP/14/125 . Acevedo , S. , Han , L. , Kim , M. , and N. Laframboise , 2016 , “ Flying to Paradise: The Role of Airlift in the Caribbean Tourism Industry ,” IMF Working Paper WP/16/33 . Acevedo , S. , Alleyne , T. , and Romeu , R. , 2017 , “ Revisiting the Potential Impact to the Rest of the Caribbean from Opening US-Cuba Tourism ”, IMF Working paper WP/17/100 . Acevedo , S. , and Walker , C. , 2013 , “ The Eastern Caribbean Economic and Currency Union, Macroeconomics and Financial Systems ”, edited by Schipke , A
Acevedo , S. , Alleyne , T. , and Romeu , R. , 2017 , “ Revisiting the Potential Impact to the Rest of the Caribbean from Opening US-Cuba Tourism ”, IMF Working paper WP/17/100 . Acevedo , S. , Han , L. , Kim , M. , and N. Laframboise , 2016 , “ Flying to Paradise: The Role of Airlift in the Caribbean Tourism Industry ,” IMF Working Paper WP/16/33. Centre d’Etudes Prospectives et d’Informations Internationales (CEPII) , 2015 , GeoDist Database , available at: http://www.cepii.fr/CEPII/en/welcome.asp IMF , 2018 , “ Cheap