A stark warning about the declining competitiveness of Caribbean Community (CARICOM) tourism sectors was issued by Professor Compton Bourne, former President of the Caribbean Development Bank. Speaking at a World Trade Centre Georgetown panel discussion on December 2, 2025, the renowned economist revealed that CARICOM member states are rapidly losing market share to non-CARICOM Caribbean destinations that offer superior infrastructure, more favorable tax regimes, and enhanced visitor experiences.
Professor Bourne identified the Dominican Republic and Puerto Rico as primary beneficiaries of this shift, noting these nations have dramatically expanded their tourism infrastructure through modernized hotels, improved transportation networks, and diversified tourism products emphasizing heritage attractions. Unlike CARICOM nations, these competitors have implemented significantly lower taxes and levies that directly impact stay-over visitors, creating substantial price advantages.
The economist criticized CARICOM governments for prioritizing revenue collection over tourism sector growth, noting that intra-regional travel faces particularly heavy taxation. “The behavior of governments is like if the tourism demand is not price sensitive so that you can simply add taxes to the product and people will buy the same quantity. That is not so. They shift to other destinations,” Bourne stated, revealing he had previously delivered similar warnings to CARICOM Heads of Government.
For emerging tourism destinations like Guyana, Professor Bourne recommended strategic positioning as a “product innovator” leveraging its unique biodiversity. He emphasized that success requires addressing critical infrastructure gaps including quality accommodations, efficient internal transportation, rest stops, and multilingual guides capable of serving non-English speaking visitors from South America and Latin America.
Additionally, Bourne proposed developing virtual exports of entertainment and sports as lucrative alternatives to traditional tourism. He stressed that successful online delivery would require reliable technological infrastructure, strict adherence to scheduling, and high-quality production standards to compete effectively in digital marketplaces currently constrained by physical venue limitations.









