Bahamas News

At least 4.14 million tourists came to The Bahamas last year, according to the details of a new economic report released by the Central Bank of The Bahamas, although the Ministry of Tourism has yet to release the total figures for visitor arrivals to the country in 2007.

Five million had become somewhat of a local benchmark for success in tourism once the feat was achieved a few years ago. However, in the last several years, The Bahamas has failed to hit the mark.

The Central Bank noted in its Monthly Economic and Financial Development Report for December 2007 that over an eleven month period last year visitor arrivals fell by 3.8 percent [0.18 million] to 4.14 million.

The figures reflected a contraction in the main air and sea components by 1.7 percent and 4.8 percent respectively.

“In terms of the major markets, broad based declines were noted for visitors to New Providence [1.3 percent], Grand Bahama [6.8 percent], and the Family Islands [7.4 percent],” the report said.

The weakness detected in the local tourism sector was reflected in the worldwide picture last year.

The recent United Nations World Tourism Barometer report indicated recently that although confidence has weakened, international tourism is projected to still grow this year despite a global economic slowdown, worries about a recession in the US economy, turbulence in the US housing market and spiking oil prices.

According to UNWTO, international tourist arrivals grew by an estimated six percent to reach a new record figure of 900 million. It meant that there were nearly 52 million more tourist arrivals last year over the year before, in what officials said was an astonishing achievement given that the 800 million mark was reached in 2005.

In the Caribbean region, there were 19.3 million international tourist arrivals, according to the report, which also indicated that the overall prospects for 2008 are positive.

Central Bank analysts also noted that weakness continued to hound the main driver of economic activity in The Bahamas late last year ultimately contributing to a lag in the economy.

“Initial data for the month of December [2007] suggest a slowing in the pace of economic activity, as signs of weakness in the tourism and construction sectors offset growth in consumer demand,” the report added.

The Bahamas Ministry of Tourism has yet to reveal the total tourist arrival figures for 2007. However according to the ministry’s preliminary data, between January and October there were just under four million visitors to The Bahamas which was 3.8 percent less than the total number of tourists here between January and October 2006.

The figures also showed that 2.3 million of those visitors who came to The Bahamas in that period arrived in New Providence, while the other 540,000 were recorded for Grand Bahama and another 1 million traveled to the Family Islands.

In the month of October alone there were over 298,000 tourist arrivals, the data showed.

The Ministry of Tourism is expected to operate with a larger marketing budget soon to raise this country’s profile and draw more visitors to The Bahamas. Director General of Tourism Vernice Walkine has welcomed the additional $12 million boost from the government.

It would supplement the ministry’s 2007-2008 advertising budget of around $5 million.

Source: Bahama Journal