They still think they are going to see Hemingway having a drink over there at La Bodeguita. So how do you see that happening? What do you see taking place there as tourism keeps increasing and individuals do not go to the other locations? Yes (What does ltm mean in finance). Mr. Bernal. The return of Cuba to as a destination for American tourists has both unfavorable and positive results. In the brief run it is a brand-new destination. It is going to bring in a lot of financial investment and travelers there, and that might divert, especially, travelers from the nearest islands to Cuba such as the Bahamas and Dominican Republic, but it could impact the entire Caribbean.
What is essential for the Caribbean is to do the following: One, to maintain the freshness of the tourism item and its global competitiveness in price and quality; and second of all, to search for the possibility of several destination tourist. That is, a long time in Cuba, a long time in the rest of the Caribbean, find collective methods. Finally, the Caribbean has significant tourism expertise and management which it can use to Cuba in constructing Cuban tourist. Among the vital things is to guarantee that as airlift originates from new markets like China that the Caribbean likewise ensures that it is competitive with the brand-new destinations.
So the Caribbean deals with competition, but it is an industry in the Caribbean which has shown an ability to remain internationally competitive and appealing. I have no doubt that the market will continue to grow, but it requires to up its video game due to the fact that of the new competitors. Ms. Yearwood. I do not have a lot to contribute to Ambassador Bernal's point. International tourism grew by 4 percent in 2015; global trade grew by 2. 8 percent. So what we do understand it that the tourist market continues to what does floating week mean in timeshares broaden and the Caribbean's growth has actually been favorable for awhile now. So I believe on the whole, the Caribbean is succeeding.
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The Caribbean Hotel & Tourism did do a research study on the disruption that Cuba might trigger. However among the points that there is, is that the U.S. is the only nation that has the embargo on Cuba and other countries have actually been taking a trip to Cuba without any interference permanently, I guess, and so that market is safe. You have the Canadians, the Europeans. To Ambassador Bernal's point the emerging Chinese and Asian market coming into the Caribbean, so I think it is both a challenge and a chance. However I believe as long the Caribbean does deal with its competitive concerns and does remain able to compete with Cuba on expense and quality they ought to be fine.
Sires. Thank you. Mr. Duncan. Well, as you can see, on a day when sessions end and individuals are leaving town we have the committee members come even unanticipated to the chairman, which reveals the significance that the Caribbean area is to our subcommittee, to Congress as an entire, and I believe to the government. We are going to continue diving into these concerns and determining manner ins which we can engage more, especially due to Venezuela as we have actually discussed, and what might or might not happen with Petrocaribe. I believe there is terrific chance. I discuss jobs, energy, and the starting dads all the time.
So witnesses are reminded there might be other questions that are submitted and we ask you to react to those. We will leave the record open for 10 days. And we wish to thank you Eric, Sally, and Ambassador. What is a swap in finance. Thanks for coming and I anticipate continuing the discussion. Yes, thank you. Yes, sir. Mr. Bernal. It would be remiss of us if we didn't put on record our gratitude to you for your management and chairing of the committee and for convening this session to give us an opportunity to share some views with you, and we position on record our gratitude.
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Mr. Duncan. Well, let's put the attention where it is directed. My ranking member wanted maintenance fees for timeshares to concentrate on this concern and I am thankful he did. We were welcome to, pleased to accommodate him and I value that. It sort of directed my focus toward the area and I am extremely grateful that he did. So we will look forward to seeing you in September after this break and I hope everyone has a great break too. And with that the committee will stand adjourned. [Whereupon, at 3:39 p. m., the subcommittee was adjourned.] A P P E N D I X ---------- Material Submitted for the Record < [GRAPHIC( S) NOT READILY AVAILABLE IN TIFF FORMAT] [all].
Caribbean Area: Problems in U.S. Relations On October 4, 2006, the President signed into law the FY2007 Department of Homeland Security Appropriations Act (P.L. 109-295, H.R. 5441), which has a provision (Area 546) extending the due date requiring U.S. citizens taking a trip by land or sea between the United States and the Caribbean (as well as Canada, Mexico, and Central and South America) to have passports or other files denoting identity and citizenship. The deadline was extended from January 1, 2008, to June 1, 2009, or earlier if the Secretary of State and Secretary of Homeland Security collectively license particular criteria concerning the new document or passport card being developed.
people to have passports for travel by air between the United States and the Caribbean (in addition to Canada and Mexico.) On August 28, 2006, Guyana held nationwide elections in which President Baharrat Jagdeo was re-elected with almost 55% of the vote. Some observers http://mylesupwm459.simplesite.com/451232980 had actually prepared for political violence, but the elections were the most peaceful and organized in current history, according to the Carter Center, which observed the elections. On July 3, 2006, Haiti's involvement in the Caribbean Neighborhood (CARICOM) was officially reinstated at the organization's summit in St. Kitts and Nevis. Haiti's participation had been suspended after the departure of President Jean Bertrand Aristide from power in February 2004.
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792 (Meeks) by voice vote, acknowledging the 40th anniversary of Guyana's self-reliance and extending finest wishes to Guyana for peace and more development, progress, and success. On April 22, 2006, Guyana's Farming minister, in addition to his two siblings and a security personnel, were shot and eliminated in an obvious robbery. On April 12, 2006, U.S. and CARICOM trade authorities fulfilling in Washington began initial exploration of a prospective free trade agreement. The authorities also accepted renew a dormant U.S.-CARICOM Trade and Financial Investment Council that had initially developed in the early 1990s. On March 30, 2006, Portia Simpson Miller was sworn in as Jamaica's first female Prime Minister.