2022 Baker Tilly Caribbean Hospitality Financing Survey

#TurksandCaicos, June 3, 2022 – The 2022 Baker Tilly Caribbean Hospitality Financing Survey was launched at the CHRIS tourism conference in Miami last week and we are very pleased to report that many of our findings continue to reflect signs of positivity and optimism amongst the financing community.

The main messages include, but are not restricted to, the following:

• The confidence of banks has increased to its highest level since we started our Survey in 2009.
• There is a belief that the worst effects of the pandemic are over.
• None of our banking respondents believe that a material number (>10%) of their clients will go out of business over the next 12 months.
• Market sentiment is strong. There is a huge pent-up demand to travel.
• The confidence level of the non-bank community, being private equity funds, family offices and developers, is even higher than the confidence of banks.
• 88% of non-banks anticipate making new investments in Caribbean tourism related projects over the next 12 months.
• Consistency of opinions of banks and non-banks are more closely aligned than they have been for years.
• A real estate boom in many parts of the region is expected to continue for at least another 12 months.
• Conditions for developments with a real estate and/or residential components could hardly be better.
• Family offices’ interest in the region continues to grow.
• Countries with great airlift, excellent telecommunications, low crime rates and modern infrastructure will be most attractive to inward investors
• Inflation is, however, a cloud on the horizon. If it continues to grow and becomes difficult to manage it could lead to an economic downturn.
• When asked to reflect on what excites them the most “seeing/hearing how everyone loves the Caribbean” is one of the “reasons to be cheerful” given by respondents.

Click on the link below for the complete survey:

2022 Caribbean Hospitality Financing Survey Report

Release: Bakertilly