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Caribe Hilton Hotel postcard from 1952.. The inauguration of the Condado Vanderbilt Hotel on 16 October 1919 marked the beginning of upscale tourism in Puerto Rico. According to Dennis Merrill, author of Negotiating Cold War Paradise: U.S. Tourism, Economic Planning, and Cultural Modernity in Twentieth-Century Puerto Rico, the tourism industry in the Caribbean is viewed by its critics as ...
The economy of Puerto Rico is classified as a high income economy by the World Bank and as the most competitive economy in Latin America by the World Economic Forum. [14] [15] The main drivers of Puerto Rico's economy are manufacturing, primarily pharmaceuticals, textiles, petrochemicals, and electronics; followed by the service industry, notably finance, insurance, real estate, and tourism.
This was important for the economy, since tourism provides up to 10% of Puerto Rico's GDP, according to Discover Puerto Rico. [172] A tourism campaign was launched by Discover Puerto Rico in 2018 intended to highlight the island's culture and history, branding it distinct, and different from other Caribbean destinations.
By October 2019, nearly all of the popular amenities for tourists, in the major destinations such as San Juan, Ponce and Arecibo, were in operation on the island and tourism was rebounding. This was important for the economy, since tourism provides up 10% of Puerto Rico's GDP, according to Discover Puerto Rico. [133]
The Puerto Rico Tourism Company ( Spanish: Compañía de Turismo de Puerto Rico, or simply Turismo) is the government-owned corporation in charge of tourism matters and regulations in Puerto Rico. The company was created during Governor Luis A. Ferré 's administration (1969-1973) to coordinate the marketing and growth of Puerto Rico's tourism ...
Tourism is one of the region's major economic sectors, with 25 million visitors contributing $49 billion towards the area's gross domestic product in 2013, which represented 14% of its total GDP. This puts the region twelfth in the world in terms of tourism's absolute contribution to GDP, but first as a proportion of GDP.