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International Monetary Fund. African Dept.

February 2021. The faster recovery to pre-pandemic growth rates of source markets would also help to the tourism recovery in São Tomé and Príncipe. According to the Oct 2021 WEO, the Euro area is expected to have a real GDP growth rate of 5 percent in 2021 and 4.3 percent in 2022. Figure 13. Travelers by Source Markets Source: BCSTP; IMF staff calculations. 8. Furthermore, the development of health conditions and progress of vaccinations in São Tomé and Príncipe are essential for the speed of recovery . Good health conditions would help to attract tourists

Vybhavi Balasundharam and Mr. Robin Koepke

. First, we document the resilience of tourism to PICs to large external shocks like the September 11 attacks and the SARS epidemic. Second, we show that external shocks can result in substantial diversion of tourism into unaffected PICs. However, the size of tourism diversion depends on the type of shock, the region where the shock occurs and state of competitor markets. These results suggest that travel bubbles between large source markets like Australia and New Zealand with the PICs could boost tourism recovery in the PICs, and these gains could be amplified by

Vybhavi Balasundharam and Mr. Robin Koepke
The COVID-19 pandemic prompted a collapse in international tourism, severely impacting the tourism-dependent economies in the Asia & Pacific region. Once countries start reopening, tourism diversion effects could accelerate the recovery in countries that establish themselves as more attractive travel destinations than competitors. We investigate the impact of previous shocks in tourism competitor countries on visitor inflows, with a particular focus on tourism-dependent Pacific Island Countries (PICs). We find that PICs were generally resilient to external shocks and benefitted from diversion effects for certain types of shocks. For example, the share of departures from Australia to PICs increased by 12 percent during the SARS outbreak. We then derive policy implications for the post-COVID-19 revival of inbound tourism to PICs and lessons for the future.
International Monetary Fund

On July 16, 2007, the Executive Board of the International Monetary Fund (IMF) concluded the 2007 Article IV consultation with Dominica. 1 Background Dominica has fully recovered from the 2001-02 economic and financial crisis. Output growth has rebounded, reaching 4 percent in 2006—the highest in two decades—and it is expected to remain above trend in 2007. The rebound is driven by a pickup in tourism, recovery in banana production, and buoyant construction and offshore school activity. Inflation has remained subdued, reflecting stabilizing oil prices

International Monetary Fund
This 2007 Article IV Consultation highlights that Dominica has fully recovered from the 2001–02 economic and financial crisis. Output growth has rebounded, reaching 4 percent in 2006, and it is expected to remain above trend in 2007. The rebound is driven by a pickup in tourism, recovery in banana production, and buoyant construction and offshore school activity. Inflation has remained subdued, reflecting stabilizing oil prices, and is projected to remain low. The external current account deficit narrowed sharply in 2006, and is likely to remain large at about 20 percent of GDP in 2007.
International Monetary Fund

This 2007 Article IV Consultation highlights that Dominica has fully recovered from the 2001–02 economic and financial crisis. Output growth has rebounded, reaching 4 percent in 2006, and it is expected to remain above trend in 2007. The rebound is driven by a pickup in tourism, recovery in banana production, and buoyant construction and offshore school activity. Inflation has remained subdued, reflecting stabilizing oil prices, and is projected to remain low. The external current account deficit narrowed sharply in 2006, and is likely to remain large at about 20 percent of GDP in 2007.