Puerto Rico’s Tourism Boom: What’s Driving The Growth?

Puerto Rico’s Tourism Boom: What’s Driving the Growth? | Latin Wealth

6M ago 21:49

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In this episode of the Latin Wealth podcast, we explore two timely topics: the rise of Puerto Rico as a travel hotspot and the surprising growth in Black Friday and Cyber Monday spending despite ongoing global crises.

Puerto Rico: A Tourism Powerhouse

-Puerto Rico is no longer just a vacation destination; it’s a global tourism leader. The island has bounced back stronger than ever, with an 85% increase in overseas visitors since 2019, according to the US National Travel and Tourism Office. Tourism is thriving with more visitors, longer stays, and record-high spending, reaching $9.8 billion in 2023.

We break down the "trifecta of tourism growth" that has made Puerto Rico one of the most desirable travel destinations in 2024:

- Increased flight availability, including more direct flights from the West Coast.

- A 6% rise in hotel bookings year-over-year.

- A growing trend of travelers dreaming about “La Isla,” as flight searches for trips between November 2024 and February 2025 are up 9%.

Black Friday & Cyber Monday Spending Soars

Despite challenges like inflation and global crises, U.S. consumers are expected to spend big this Black Friday and Cyber Monday. The average consumer spending between November 28 and December 2 is projected to hit $650, a 15% year-over-year increase.

We discuss the factors driving this growth:

- Retailers’ aggressive marketing strategies with steep discounts and exclusive deals.

- The resilience of consumer spending power despite financial pressures.

- Data from the National Retail Federation (NRF) showing the growing

importance of Thanksgiving weekend shopping.

- Join Carlos and Chris as we unpack what these trends mean for businesses, consumers, and the Latino community.

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#puertorico #blackfriday

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