in his press conference 21 Jan 09....
The global crisis will just as clearly affect foreign direct
investments, remittances from the US and especially tourism. The
December figures are not yet in, but tourist overnight arrivals were
down 3.6% as of November 30th, 2008, over the previous year.
Anecdotally though it does appear though that we will do slightly
better for the second half of December. The outlook suggests tourism
will be hardest hit in Placencia and Cayo, although in San Pedro the
premium and established brand name properties are actually seeing an
increase in business. However, that's balanced by the fact that the
properties that cater for the middle income visitors, even in San
Pedro, are experiencing a five to fifteen percent decline in revenue
and occupancy rates.