Tourism Industry News
CTO Hires Tourism Economics to Gauge Market
The Caribbean Tourism Organization (CTO) has partnered with Tourism Economics, a consulting company within the tourism industry, to provide its members with an ongoing and accurate analysis of the U.S. and global economic situation.
The partnership, which represents an extension of the CTO’s strategy for dealing with the current state of the economy, will ensure that members have all of the information necessary to make knowledgeable business decisions.
“Tourism Economics has a reputation for applying cutting-edge economic and quantitative tools to their analysis,” said Hugh Riley, interim secretary general of the Caribbean Tourism Organization. “Through this new partnership, our members and partners will have access to the latest research and global data collection and will, in turn, be able to make the most appropriate marketing, investment and policy decisions.”
More than 100 destinations and companies have utilized Tourism Economics’ services to acquire actionable and credible analyses of the tourism industry. Starting in April, the company will produce seasonal reports to assess the immediate and future implications of the economic downturn on travel from the Caribbean’s key source markets. These reports will enable CTO members to understand and anticipate trends in order to inform strategies in four key areas: partnerships, packages, promotions and pricing.
“We work with our clients to assist in the interpretation and application of our analysis to the real decisions facing them,” said Adam Sacks, managing director of Tourism Economics. “We are very much looking forward to helping the Caribbean Tourism Organization and its partners.”