Global Uncertainty Could Slow Tourism and Economic Growth, ECCB Warns

ECCB Warns Global Uncertainty Could Slow Tourism and Economic Growth

The Eastern Caribbean Central Bank’s Monetary Council has warned that rising geopolitical tensions, volatile oil prices and global trade uncertainty are creating significant risks for the Eastern Caribbean economy and could dampen tourism demand in the months ahead.

The warning came in a communiqué issued following the Council’s 113th meeting in Dominica on Friday, where regional finance ministers reviewed the economic outlook for the Eastern Caribbean Currency Union (ECCU).

“The Council observed that global uncertainty continues to weigh on the economic outlook,” the communiqué said, noting that volatility in oil prices, trade uncertainties and geopolitical conflicts pose significant risks to growth.

As a result, the Council said the region’s growth outlook is “tilted to the downside,” warning that deteriorating external conditions could weaken tourism demand and slow economic expansion.

Despite those concerns, the Monetary Council welcomed continued investment in strategic development projects and renewable energy initiatives, saying they are critical to strengthening the region’s resilience and supporting sustainable development. It also stressed that energy resilience remains central to accelerating economic growth and called for the expedited operationalisation of the Caribbean Resilient Renewable Energy Infrastructure Investment Facility.

The Council further agreed that Eastern Caribbean countries must accelerate the pace and scale of collective regional action under the ECCB’s “Big Push” strategy to improve long-term competitiveness and resilience.

While cautioning about external risks, the Council noted that the tourism sector has continued to perform strongly. Visitor arrivals across the ECCU increased by 9 percent to 2.5 million in the first quarter of 2026, while visitor spending rose 4 percent to EC$2.8 billion over the same period, reflecting sustained demand for the region as a destination.

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