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This week, the Caribbean has been marked by several significant developments.
Cuba’s Tourism Industry Faces Severe Challenges
Cuba’s tourism sector is experiencing a sharp decline, with visitor numbers dropping from 4.7 million in 2017 to 2.4 million in 2023.
The downturn is attributed to factors such as nationwide blackouts, supply shortages, and stringent U.S. sanctions. These issues have led to hotels struggling to provide basic services, resulting in frequent tourist dissatisfaction. The situation is further exacerbated by competition from other Caribbean destinations, making Cuba’s post-COVID tourism recovery one of the slowest in the region.
Most of Cuba’s foreign tourists come on charter flights from Canada, Europe or from South and Central America.
The Bahamas Initiates Debt-for-Nature Swap
The Bahamas has announced a $300 million debt refinancing initiative aimed at allocating over $120 million for marine conservation and climate change mitigation. This marks the fifth global debt-for-nature swap and involves collaboration with The Nature Conservancy and the Inter-American Development Bank.
The funds will focus on protecting critical ecosystems like mangroves and seagrass, which are vital for carbon absorption and climate resilience.
Indian Prime Minister Modi’s Visit to Guyana
Indian Prime Minister Narendra Modi visited Guyana, marking the first visit by an Indian leader to the country in over 50 years.
During the visit, Modi pledged aid and support in technology, health, energy, and agriculture to the Caribbean region. Notably, he offered to share seaweed management technology and announced over 1,000 scholarships for Caribbean nations. Modi also emphasized Guyana’s growing importance in India’s energy security due to its recent oil and gas discoveries.
Security Concerns in Haiti Affect Aviation
Haiti’s Toussaint Louverture International Airport faced security challenges after armed gangs fired at incoming and outgoing planes.
A Spirit Airlines flight from Florida was struck by bullets upon landing, resulting in a minor injury to a flight attendant. Subsequently, the U.S. Federal Aviation Administration (FAA) imposed a ban on U.S. airlines flying in Haiti, which was later modified to allow flights over the northern part of the country, including Cap-Haitien.
Sources: AP News, Financial Times, Reuters.
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