“We have to either redress this reality or perception or risk losing more market share.”
With Sterling reaching an eight year high against the Euro, making most European countries dramatically less expensive as holiday destinations and the Canadian Dollar below 80 cents when compared with its southern neighbour, the pressure is on to making Barbados perceived as offering value-for money.
So when a Spanish based bank with a huge presence in the United Kingdom recently published the results of a survey entitled ‘Barbados Caribbean island is most expensive place to visit’ it should send a huge tidal wave of realism to our various tourism policymakers and planners that we have to either redress this reality or perception or risk losing more market share.
Santander UK currently serves more than 14 million active customers from 921 branches and 66 regional Corporate Business Centres in the United Kingdom. As of 31st December 2014 it was the most switched-to-bank attracting 1 in 4 new retail accounts.
The survey, largely undertaken by Opinium Research/ONS Travel Trends 2014, stated ‘British people visiting Barbados will feel a particular nasty sting in their wallets this summer, having to fork out an average of GBPounds 109 a day in spending money – not including the cost of a hotel’.
Around the world Barbados was placed as No. 1 in a list of the ten most expensive countries for British people to visit based on average daily spend. Second was the United Arab Emirates.
Just as alarming, is that Santander concluded that the daily costs of visiting Barbados have risen from GBPounds 79 per day or nearly 38 per cent since 2010. Continue reading