This forecast is based on the assumption of modest economic growth in Barbados’ major trading partners (the US and UK). Prospects are tempered by continuing job losses in those economies, and forecasts for additional job losses during 2010. The expected impact of the increase in the UK tourism air passenger departure tax (APD), implemented in November 2009, will aggravate the decline in UK arrivals.
However, the growth in Canadian arrivals should remain robust. International business sector Tight global credit conditions and persistent efforts by investors to reduce their risk exposures led inevitably to a further contraction of the international business sector, following the small decline observed in 2008.