2023 SPRING TECHNICAL REVENUE ESTIMATING CONFERENCE BUREAU OF ECONOMIC RESEARCH DIRECTOR: DR. ALLISON L. DEGAZON U.S. VIRGIN ISLANDS VISITOR ARRIVALS AIR ARRIVALS The USVI Visitors who arrive to the USVI by Airline CRUISE ARRIVALS The USVI Visitors who arrive to the USVI by Cruise Ship 2 Total Visitors who arrive to the USVI by both Airline and Cruise Ship Total Visitors TOTAL VISITOR ARRIVALS FISCAL YEARS 2018 TO 1ST QUARTER 2023 3 2021 USVI GDP release is tentatively scheduled for May 2023. The delay is due to the continued delay in the availability of the 2020 USVI government audited financial statements. FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 1st Quarter Air 399,217 637,876 187,750 746,168 799,497 169,907 Cruise 1,186,188 1,480,932 442,027 30,194 851,766 384,917 Total 1,585,405 2,118,808 629,777 776,362 1,651,263 554,824 0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 AIR ARRIVALS BY DISTRICT FISCAL YEARS 2016 TO 1ST QUARTER 2023 4 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 1st quarter 2023 Air-STT-STJ District 644,562 630,179 258,288 470,519 149,068 603,248 653,564 137,260 Air-STX District 150,373 154,377 140,929 167,357 38,682 142,919 145,934 32,646 Total Territory-Wide 794,935 784,556 399,217 637,876 187,750 746,167 799,498 169,906 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 900,000 AIR VISITOR ARRIVALS 1ST QUARTER COMPARISONS FISCAL YEARS 2019 TO 1ST QUARTER 2023 5 2021 USVI GDP release is tentatively scheduled for May 2023. The delay is due to the continued delay in the availability of the 2020 USVI government audited financial statements. FY 2019 1st Quarter FY 2020 1st Quarter FY 2021 1st Quarter FY 2022 1st Quarter FY 2023 1st Quarter Total 115,290 98,019 166,170 169,906 201,144 0 50,000 100,000 150,000 200,000 250,000 CRUISE ARRIVALS BY DISTRICT FISCAL YEARS 2018 TO 2023 1ST QUARTER 6 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 1st Quarter Cruise-STT-STJ District 1,129,843 1,416,099 424,583 26,353 790,927 345,122 Cruise-STX District 56,345 64,833 17,444 3,841 60,839 39,795 Total Territory-Wide 1,186,188 1,480,932 442,027 30,194 851,766 384,917 0 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 1,600,000 CRUISE VISITOR ARRIVALS 1ST QUARTER COMPARISONS FISCAL YEARS 2019 TO 1ST QUARTER 2023 7 2021 USVI GDP release is tentatively scheduled for May 2023. The delay is due to the continued delay in the availability of the 2020 USVI government audited financial statements. FY 2019 1st Quarter FY 2020 1st Quarter FY 2021 1st Quarter FY 2022 1st Quarter FY 2023 1st Quarter Total 491,970 458,422 - 215,501 384,917 - 100,000 200,000 300,000 400,000 500,000 600,000 HOTEL GUEST REGISTRATIONS FISCAL YEARS 2015- 2023 1ST QUARTER 8 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 1st Quarter Guest Registrations 989,939 988,751 736,274 367,205 499,558 420,326 614,532 686,742 268,419 0 200,000 400,000 600,000 800,000 1,000,000 1,200,000 ECONOMIC INDICATORS USVI Inflation & GDP Updates 9 REAL GROSS DOMESTIC PRODUCT (GDP) GROWTH RATE (%) FROM 2011-2020 10 -8.2 -14.8 -6.3 -1.8 -0.4 1.6 -0.7 1.9 2.8 -2.2 USVI Real GDP Annual % change. 2021 USVI GDP release is tentatively scheduled for May 2023. USVI INFLATION RATES (%) CALENDAR YEARS 2018-2021 11 2018 6.4% 2019 3.8% 2020 5.7% 2021 8.7% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% 9.0% 10.0% 2018 2019 2020 2021 2023 USVI Inflation Numbers will be release is tentatively scheduled for May 2023. THANK YOU! WEBMASTER@USVIBER.ORG WWW.USVIBER.ORG