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Financial Market Brief May 6 2016
Based on the Bahamas’ current economic model, the tourism industry is vital to the country’s economic survival and remains an important economic indicator for assessing the health of the Bahamian economy. The industry has evolved over the years from total visitor arrivals of 1.62 million in 1981 to 6.11 million in 2015. Additionally, visitor expenditures in 1981 were $639.10 million compared to $2.30 billion in 2014. From a cumulative perspective, it would appear that the Bahamas’ tourism industry has thrived over the past 34 years. However, a more in-depth analysis reveals that while sea and cruise arrivals have skyrocketed from 596.87 thousand visitors in 1981 to 4.72 million visitors in 2015, stopovers, the more lucrative visitor category, have not fared as well. Over the past 34 years since 1981, stopover visitors have only increased by 361,142 visitors. Actually, the current stopover/air visitor arrival numbers of 1.39 million is lower than the stopover/air arrivals of 1.47 million in 1987. Over the past ten years, from 2005 to 2014, the Bahamas has averaged a mere 2.46% increase in total tourist spending. Weekly_Market_Recap_06_May-2016 Click here for full Weekly Market Recap
 

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