Our Travel and Tourism in British Vergin Islands report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest market size data (2001-2006), allowing you to identify the sectors driving growth. It identifies the leading companies and offers strategic analysis of key factors influencing the market – be they new legislative, technology or pricing issues. Background information on disposable income, annual leave and holiday taking habits is also included. Forecasts to 2011 illustrate how the market is set to change.
Sector coverage: travel accommodation, transportation, car rental, travel retail and tourist attraction markets.
Why buy this report?
- Get a detailed picture of the travel and tourism industry;
- Pinpoint growth sectors and identify factors driving change;
- Understand the competitive environment and the market’s major players ;
- Use five-year forecasts to assess how the market is predicted to develop.
With a network of over 600 analysts worldwide, we have the unique capability to develop reliable information resources to help drive informed strategic planning.
Executive summary
Positive Growth
The visible economic stability of the Virgin Islands (including the US and British Virgin Islands) was reflected by the positive performance of its various industries. In common with most Caribbean countries, tourism was a major contributor, attracting foreign investment and driving the economy. In order to enhance competition in industry and promote continuous growth, local authorities implemented initiatives such as the launching of marketing programmes and the upgrading of port facilities.
Air Carriers Struggle in Face of Higher Oil Prices
Between 2005 and 2006, airlines were left with no other choice than to pass costs onto customers. Nonetheless, aggressive competition within the industry was pivotal in driving real-price reductions. That was not enough, however, to offset the huge losses registered by air carriers around the world. Regional Caribbean airlines were hit hard by increasing costs and struggled to make a profit. In September 2006, LIAT announced it would cut operations by 20% and lay-off staff. The next month the board of directors reported that it was negotiating with Caribbean Star to merge the airlines.
No Passport Required
Soon all tourists – including US citizens – who travel to-and-from North America and Latin America, the Caribbean and Bermuda will need a passport to enter or re-enter the US. Despite negatively impacting most Caribbean countries, the Western Hemisphere Travel Initiative presents far-reaching advantages for US territories like the US Virgin Islands. According to industry experts, it is likely to increase airlift capacity to the islands and, consequently, the total number of arrivals.
Patriotic Marketing
In addition to its proximity to the US, tourism authorities need to constantly remind American tourists that the US Virgin Islands are a US-territory. In order to do so, tourism authorities focused on strong marketing appeals utilising the red, white and blue colours of the US flag. This strategy proved successful in the latter part of the review period and is expected to continue in the future, particularly once the US government starts abiding with the Western Hemisphere Travel Initiative.
Superior Customer Service
In looking forward to enhancing its tourism product and improving the quality of life throughout the territory, the British Virgin Islands Tourist Board implemented a number of strategies between 2005 and 2006. The most relevant relates to the adoption of a Tourism Industry Service Standards programme (TISS) to improve the quality of service delivered to visitors to the British Virgin Islands. This is likely to increase overall customer satisfaction and encourage repeat visits in the future.
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