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Data Shows Sint Maarten Tourism is Booming in 2024

मार्च २७, २०२४
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The attraction of beautiful blue waters, immaculate beaches, and the welcoming hospitality of Sint Maarten continues to attract tourists from around the world seeking relaxation, excitement, and everything in between. Travelers clearly agree, because according to preliminary data, Caribbean tourism is booming in the first quarter of 2024! When compared to data from the first quarter of 2023, it is clear that the Caribbean region, namely Sint Maarten, is realizing a tremendous upswing in international tourism, indicative of a vibrant recovery and a positive outlook for the remainder of 2024. Here's the data, what that means for the Sint Maarten real estate market, as well as for travelers planning upcoming vacations to the friendly island...  

Sint Maarten Tourism Data

     This year, multiple Caribbean destinations are showing noteworthy outperformance when  comparing their year-over-year growth in international arrivals data from Travel and Tour World. St. Maarten is no exception! Let's take a deeper dive into St. Maarten's year-over-year tourism growth trajectory based on preliminary data for the first quarter of 2024...

     Early data shows that for the first quarter of the year, St. Maarten tourism is up a staggering 21% year-over-year ("YOY") versus 2023 data. Aruba, another popular Caribbean tourism destination is also showing 21% growth. For comparison purposes, Puerto Rico and St. Kitts and Nevis are indicating 18% YOY tourism growth, while the Cayman Islands are indicating 16% YOY tourism growth. 

Effects on St. Maarten Real Estate

     First and foremost, it goes without saying that the aforementioned tourism data is a great indication of what the rest of 2024 has in store for the island. Many St. Maarten property owners as well as potential buyers and real estate investors are wondering how this may impact pricing and listing inventory for condos and villas in Sint Maarten

     Based on over 25 years of experience in St. Maarten's luxury real estate market, we believe that sustained tourism growth at these levels could lead to a rapid increase in property values and property prices in St. Maarten as well as the French side of the island, St. Martin. Not only does increased tourism on island lead to increased demand for secondary home ownership on the island, but it also drives up occupancy rates for hotels and vacation rentals in St. Maarten

     This increase in occupancy allows sellers to command higher asking prices for their properties, and helps buyers justify paying a higher price for a given property thanks to its potential to generate greater income as a rental property. As for inventory, higher demand for vacation rentals may incentivize property owners to hold onto a property that they were otherwise looking to sell.

Effects on St. Maarten Vacation Travel

     Beyond the immediate impacts of such an increase in tourism travel including higher airfare prices, busier beaches, and fewer tables available at popular restaurants, there is another important factor that should be taken into consideration for those considering or planning an upcoming vacation to St. Maarten and St. Martin. 

     Simply put, book now or you may regret it later. The robust 21% YOY increase in tourism has created a correlated increase in demand for accommodations on the island, and there has not been a correlated increase in supply of accommodations. While new construction of condominiums, villas, and hotels in St. Maarten and St. Martin is on the rise, it has not kept pace with the increase in tourism. This means that the condo or villa you were planning to rent later in 2024 may be booked by other travelers keen on securing their piece of paradise. Alternatively, this may mean that while the condo or villa you were hoping to rent is still available for the dates you anticipate traveling to the island, rates may increase - leading to a more expensive vacation or rather, less travel budget to be allocated to activities and excursions. 

     Lastly, the previously mentioned immediate impacts of higher levels of tourism to St. Maarten and St. Martin such as busier restaurants and beyond highlight the importance of ensuring access to guest services such as concierge, car rentals, and more

Whether you are looking to buy or sell real estate in Sint Maarten or Saint Martin, or interested in finding the right vacation rental for your upcoming trip to the island, do not hesitate to leverage St. Maarten Sotheby's International Realty's decades of expertise and leadership in the local real estate sector. Our team of experienced professionals are best positioned to help you navigate the island's real estate market and assist you with your goals.

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