HOUSE_OVERSIGHT_018825.jpg
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Extraction Summary
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People
4
Organizations
4
Locations
2
Events
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Relationships
2
Quotes
Document Information
Type:
Economic analysis report page
File Size:
893 KB
Summary
This document, page 15 of an area analysis report identified by 'HOUSE_OVERSIGHT_018825', examines tourism in the U.S. Virgin Islands from 2005 to 2014. It includes a chart showing trends in cruise passenger arrivals and visitor expenditures. The text notes that while tourism saw modest growth in 2014, the overall downturn in the territory's GDP was likely influenced by external factors, such as the 2012 closure of the Hovensa oil refinery on St. Croix.
Organizations (4)
| Name | Type | Context |
|---|---|---|
| IGY American Yacht Harbor Marina |
Mentioned in the footer of the document. IGY Marinas operates yacht marinas, including in the U.S. Virgin Islands.
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| irr. |
A logo in the footer, likely for Integra Realty Resources (IRR), a real estate valuation and consulting firm.
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| Hovensa |
An oil refinery in St. Croix whose closure in 2012 is cited as a cause for a downturn in the USVI's GDP.
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| House Oversight |
Implied by the document identifier 'HOUSE_OVERSIGHT_018825', suggesting this document is from records of the U.S. Hou...
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Locations (4)
| Location | Context |
|---|---|
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The primary subject of the area analysis, specifically its cruise ship tourism and economy.
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The broader region in which the USVI is ranked as the 7th top tourism market.
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An island in the USVI and the location of the closed Hovensa oil refinery.
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A specific marina located in the U.S. Virgin Islands, mentioned in the footer.
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Key Quotes (2)
"In terms of stopover tourists, the U.S. Virgin Islands ranks 7th in the list of the top tourism markets in the Caribbean, with 2014 stay-over arrivals of about 730,000."Source
HOUSE_OVERSIGHT_018825.jpg
Quote #1
"We note that the continuing downturn in GDP is likely due to negative influences outside the tourism sector, such as the 2012 closure of the Hovensa oil refinery in St. Croix."Source
HOUSE_OVERSIGHT_018825.jpg
Quote #2
Full Extracted Text
Complete text extracted from the document (867 characters)
Area Analysis
15
15
USVI Cruise Ship Tourism
2,400,000
$800.0
2,200,000
$700.0
2,000,000
$600.0
1,800,000
$500.0
1,600,000
$400.0
1,400,000
$300.0
1,200,000
$200.0
1,000,000
$100.0
$800.0
2,200,000
$700.0
2,000,000
$600.0
1,800,000
$500.0
1,600,000
$400.0
1,400,000
$300.0
1,200,000
$200.0
1,000,000
$100.0
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Cruise Passenger Arrivals
Cruise Visitor Expenditures (Millions)
Cruise Visitor Expenditures (Millions)
In terms of stopover tourists, the U.S. Virgin Islands ranks 7th in the list of the top tourism markets in the Caribbean, with 2014 stay-over arrivals of about 730,000. The year 2014 indicated modest growth in arrivals, with 3.90% growth over the prior period. The chart below illustrates the relationship between arrivals and GDP. We note that the continuing downturn in GDP is likely due to negative influences outside the tourism sector, such as the 2012 closure of the Hovensa oil refinery in St. Croix.
IGY American Yacht Harbor Marina
irr.
HOUSE_OVERSIGHT_018825
irr.
HOUSE_OVERSIGHT_018825
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