International Management 4311.02
The Caribbean
Veronica Hernandez & Christie Garcia
Global Market Opportunity Assessment
February 3, 2016
Professor Clara Downey-Adams
Region Overview
The chosen region is the Caribbean. The region is made up of several island nations roughly
composed of twenty-five member and associate member states around the Caribbean Sea. The
Caribbean community was established in 1973 to lower trade barriers and institute a common
external tariff. The bloc net has met little success in stimulating economic development however,
due to economic difficulties of the individual members and their inability to agree on basic
issues. The bloc is progressing toward establishing the Caribbean Single Market, a common
market that allows for a greater degree for free movement for products, services, capital, and
labor to give citizens of all Caribbean community countries the right to establish businesses
throughout the region.
Course Relevancy
Specific nations include Aruba, the Bahamas, the Cayman Islands, Jamaica and Barbados. The
nations focused on the project are the wealthier regions. These nations where chosen because
they share similar economies, markets, and, industries. While certain nations in this region are
rife with political, social, and economic turmoil, others such as those that are mentioned-Aruba,
Barbados, the Cayman Islands, and the Bahamas-are nations that have managed to thrive by
offering tourism and hospitality as the main industries in the economy. Business opportunities
are therefore able to be discussed to more effective ends.
Because travel, tourism, and hospitality encompass a large number of businesses the money these
sectors bring in is attributed to a large and diverse range of markets comprised of numerous
