NASSAU, Bahamas — PRIME Minister Philip E. Davis expressed his pride in the latest tourism statistics for visitor arrivals last year, placed at seven million, which resulted in “record-breaking revenue” for hotels and short-term rentals, The Tribune reported on Thursday, February 23, in an article written by Letre Sweeting.
Yesterday Mr Davis said the strong activity within the tourism sector had an important impact throughout the domestic economy.
“(It) led to record-breaking revenue in both the hotel sector, as well as the short- term home rental market,” Mr Davis said in Parliament. “Likewise, hotel revenue during the first six months of fiscal year 2022/2023 exceeded pre-pandemic levels, owing to steady occupancy and higher nightly rates. As market conditions improved over the period, so did the demand for labour across the economy, mainly to support the tourism sector.”
Mr Davis’ statements come several weeks following predictions made by Deputy Prime Minister Chester Cooper on visitor arrivals for 2023.
Last month, Mr Cooper, also minister for tourism, aviation and investments, forecasted tourist arrivals for 2023 would hit about eight million, with the British Colonial Hilton, in downtown Nassau set to fully reopen by the end of the year.
Mr Cooper predicted that “stopover visitors will be at least 20 percent ahead” of 2022’s total, which is set at 7,000,706 visitors.
Echoing Mr Cooper’s sentiments, Mr Davis said yesterday: “Falling just short of pre-pandemic levels, arrivals in 2022 totalled approximately 7 million, an undeniable indicator of economic rebound over the year.”
Mr Davis added: “In 2023, stopover arrivals are projected to exceed pre-pandemic levels, as the sector grows to meet continued demand for travel.
“Based on current trends and advance bookings, as last year’s momentum carries over into this year, it is predicted that total visitor arrivals will exceed last year’s seven million visitor arrivals by at least 20 percent. This outlook is being supported by advance booking data, market intelligence and strategic marketing in major source markets.” See complete article in the Tribune at http://www.tribune242.com/news/2023/feb/23/pm-proud-record-breaking-revenue-tourism/
