CaribWorldNews, NEW YORK, NY, Thurs. Dec. 3, 2009: The World Bank is insisting that the Latin American region will not be that impacted by the Dubai debt fall out.

Pamela Cox, the World Bank`s vice president for Latin America, told Bloomberg News this week that the region is in a better position than most emerging markets since its economy is in better shape.

`If I were an investor, I would look at the track record of the different regions,` Cox was quoted as saying.  `I`d look at the fundamentals and look at some of the numbers and I think you`d see that Latin America looks quite good.`

LATIN AMERICA GDP

Cox`s comments comes as the Organization for Economic Cooperation and Development  this week said it expects the gross domestic product of Latin American economies to contract 1.5 percent to 1.9 percent this year.

Latin America is already showing signs of recovery with economic activity being supported by improving financial and commodities markets, and a rebound in exports.

TOURISM IN THE CARIBBEAN

While the Caribbean tourism sector has taken a beating, it seems the near future is looking brighter.
An American Society of Travel Agents Business Trends survey released this week shows that consumer interest in cruises remains high for the upcoming winter and spring travel seasons, with the Caribbean and Mexico topping the destination charts for winter travel.  Sixty-three percent of those surveyed said the Caribbean was high on their clients` wish-lists

ASTA conducted the study to assist leisure and corporate agencies in planning for the future as well as benchmarking their first half 2009 sales performance. The report looks at changes agencies made to weather the past year as well as changes planned for the future. Agencies were asked specifically about changes in employment and independent contractor usage to gauge how employment has been affected by the slowdown.

The report comes as Hard Rock International announced plans to open its first all-inclusive resort and casino in the Caribbean. The chain said it will target couples, bridal parties, families, music fans - and gamblers with a major casino with 457 slots, 40 tables, and a high-limit poker room in the Dominican Republic. It is set to open in Punta Cana in Spring 2010.