Tourism and Innovation: Leapfrogging the Caribbean Private Sector

This report is aimed at recommending solutions that would assist the leapfrogging of the Caribbean private sector into the 4th industrial revolution. In doing so, this report aims to identify the challenges within the Caribbean tourism industry and the solutions that digitization could provide. We use both quantitative data (firm-survey) to derive a Structural Gravity General Equilibrium Model, used to identify and calculate the effects of the biggest barriers to SME growth, as well as qualitative data (interviews) of real-life business cases, which can be used to tackle the said barriers.