March Air Arrivals Near 75% of Pre-Covid in The Bahamas

• Tourist arrivals to The Bahamas increased almost ten-fold in March 2022 compared to the prior year aided by the continued easing of COVID-related border restrictions and a rebound in global travel. 
• As major source markets further adjusted to COVID-19 pandemic conditions, initial data indicated that monthly tourism output maintained its growth momentum in March. Air traffic yielded 147,616, compared to 56,371 in the prior year, regaining 73.2% of the volumes registered in 2019. In addition, sea traffic was reinstated at 475,486 from a mere 6,394 visitors in the previous year, when cruise sailings remained suspended. 
• Total arrivals to New Providence amounted to 304,506 in March from 39,093 in the comparative period of 2021. That said the domestic economy is expected to sustain its recovery trajectory in 2022, undergirded by an ongoing strengthening in tourism sector output. 
• However, there are downside risks. The sector remains exposed to the COVID-19 virus, which could potentially stall progress made on the international health front and dampen the travel industry prospects. In addition, elevated international fuel costs could weaken the travel sector’s competitiveness, and major central banks’ counter-inflation policies could erode the consumers (in key source markets) spend on travel.

(Source: The Tribune)