Global Economy Impacts St. Kitts – Nevis Tourism
Photo By Erasmus Williams
Basseterre, St. Kitts – Nevis
December 17, 2008 (CUOPM)
The tourism sector in St. Kitts and Nevis has increasingly become vital to twin-island Federation’s economic growth, but current world economic slowdown and low consumer confidence pose a significant threat to the performance of the local and regional destinations.
Minister of Finance, Dr. the Hon. Timothy Harris presenting the 2009 Budget Address in the St. Kitts and Nevis National Assembly on Tuesday said tourism’s contribution to GDP through visitor expenditure, foreign exchange earnings, foreign direct investment and employment generation is critical to the continued economic and social progress of the Federation.
He disclosed that although stay-over arrivals in 2007 declined by 10.9 percent to reach 125,026 when compared to 140,248 in 2006, total visitor arrivals to St. Kitts registered a slight increase of 8.4 percent because of the continued robust growth in the cruise section of tourist arrivals.
