Stopover Visitors Exceed Pre-COVID High by 30% in Bahamas

• The Central Bank of Bahamas reported that stopover arrivals are above pre-COVID highs by more than 30% in September, with the economy forecasting to hold its “growth momentum” into 2024.
• The banking regulator, unveiling its report on November’s monthly economic developments, praised “aggressive marketing” by The Bahamas for sustaining the country’s tourism rebound, although it noted that economic growth will slow in line with its traditional and medium-term “potential”.
• Still, the Central Bank confirmed that The Bahamas had matched its pre-COVID full-year arrivals record from 2019 in the first ten months of this year.
• “On a year-to-date basis, total arrivals strengthened to 7.2Mn visitors’ vis-à-vis 4.8Mn in the corresponding 2022 period,” it said. “Contributing to this outcome, air arrivals increased to 1.3Mn passengers from 1.1Mn in the prior year, reflecting gains in all major markets. Likewise, sea arrivals accelerated to 5.9Mn from 3.7Mn visitors the previous year.
• Focusing on The Bahamas’ economic outlook, the Central Bank said: “The domestic economy is anticipated to maintain its growth momentum in 2023, supported by robust gains in tourism output. However, the pace of expansion is projected to slow as the economy converges closer to its medium-term growth potential.”

(Source: The Tribune)