The Tribune

By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

ROOM revenues for Nassau/Paradise Island hotels have increased by 136 percent year-over-year in 2022, it has been revealed, with non-US source markets also producing triple digit percentage increases in visitors.

Ian Ferguson, the Tourism Development Corporation’s executive director, told the Bahamas Hotel and Tourism Association’s (BHTA) annual general meeting (AGM) that the country’s largest industry had maintained strong post-COVID recovery momentum throughout 2022.

“Hotel occupancy and revenue numbers across major resorts in Nassau and Paradise Island showed a steady rebound with a 64 percent and 136 percent increase in occupancy and revenue respectively,” he said. “Here’s what we’ve already seen through October. This year there was an impressive increase of 346 percent in air and sea arrivals as compared to 2021.

“Stopover arrivals, which make up a part of the foreign air and sea arrivals, were up by 61 percent for October year-to-date compared to the same period in 2021, with the US accounting for 90 percent of all stopover arrivals. Canada arrivals are experiencing significant increases, and we’re up by almost 461 percent for October year-to-date 2022 compared to the same period last year.

“After seeing a significant drop-off in European arrivals in 2021, caused by the travel restrictions imposed by many European countries, arrivals have begun to rebound and were up by over 246 percent.” Arrivals from Latin American markets have increased by more than 45 percent for the year to October 2022, with the healthy gains coming as little surprise given the continual easing of COVID-related travel restrictions.

“The return of cruising has given The Bahamas’ tourist sector a huge boost with an 810 percent increase in arrivals year-to-date, which has brought tremendous benefit to local businesses, shops, restaurants, excursions tour operators,” Mr Ferguson added.