The Caribbean Tourism Organization (CTO) will close its U.S. office in New York by the end of the year as part of a restructuring and reorganization. 

The CTO also plans to close its U.K. office in London on Jan. 31, 2020.

"This restructuring exercise is expected to significantly reduce the operational expenditures of CTO, giving it more capacity to undertake its key functions of regional marketing, statistics and research, and product development," CTO said in a statement.

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