The Central Bank of Barbados published an analytical note on how airlift capacity influences long-stay visitor arrivals and economic growth, positioning air connectivity as a key enabler of tourism demand and broader economic activity in Barbados. Tourism is described as the backbone of the economy, contributing an average 50 percent of export revenues since the 1970s, with visitors primarily from the UK, US, CARICOM, and Canada. The UK remained a major market, averaging 36 percent of arrivals from 1994 to 2024. The note highlights a recent expansion in US airlift: since 2015, seating capacity more than doubled, rising by an average 22.4 percent annually excluding 2020–2022, alongside 8.8 percent annual growth in long-stay arrivals. By end-2024, US seating capacity was 11.7 percent above the 2019 peak, supported by increased operations from American Airlines, JetBlue, Delta, United Airlines, and Frontier, while US long-stay arrivals rose to 228,128 in 2024 from a pre-pandemic average of 203,972 in 2017–2019. Looking ahead, the post-pandemic recovery in airlift capacity is presented as supporting future growth opportunities, while noting that economic challenges in source markets could affect demand; the note points to the need for tourism strategy adjustments and strengthened partnerships with international carriers.
Central Bank of Barbados 2025-02-06
Central Bank of Barbados links expanded US airlift capacity to record 2024 long-stay arrivals of 228,128
The Central Bank of Barbados emphasized the critical role of airlift capacity in boosting long-stay visitor arrivals and economic growth, with tourism significantly contributing to export revenues. The note highlights a substantial increase in US airlift capacity since 2015, with seating capacity more than doubling and long-stay arrivals growing annually by 8.8 percent, despite challenges from source market economies. The bank suggests strategic adjustments and stronger partnerships with international carriers to capitalize on post-pandemic recovery opportunities.