Alan Greenspan Says Caribbean Must Be Patient

The Annual Caribbean Tourism Summit's keynote speaker, Dr. Alan Greenspan, chairman of the Federal Reserve Board from 1987-2006, told delegates this morning not to expect a quick tourism boom in the Caribbean during a struggling U.S economy. Rather, be patient and treat investments in the region as a long-term process, he says. Greenspan says the Caribbean will not see a dramatic spike in investment in the next two to three years but instead needs to prove it can produce a return for the next 10-15 years before the money “flows there.”

“Don’t pound on doors and say ‘you have to come to the Caribbean for vacations,’” he says. “The problem there is people will slam their doors. You have to show them data, results and people will come.”

Suggested Articles

This year’s theme – DARE – was derived by the acronym for parent company World Travel Holdings’ mission to Deliver A Remarkable Experience. Read more.

The completely redesigned site has even more vibrant images of the destinations and villa properties. Read more.

The event is one of several that celebrates the island's 40th anniversary of independence. Read more.