NASSAU, The Bahamas — Deputy Prime Minister and Minister of Tourism, Investments and Aviation the Hon. Chester Cooper said evidence shows The Bahamas is heading towards another record-breaking year in tourism, over last year’s estimated eight million visitors.
He was making a contribution to the Budget Debate in the House of Assembly on Wednesday, June 12, 2024, outlining plans in the 2024/2025-budget cycle for his areas of responsibility — tourism, investments and aviation.
“Our year-to-date figures for 2024 have surpassed all expectations, building on the momentum of previous years. We are not resting on our laurels. Team Tourism will continue to deploy winning strategies – as we did last year,” the deputy prime minister said.
He shared that from January to April 2024, there has been a significant increase in foreign air and sea arrivals, marking a 12.4 percent rise compared to the same period in the record setting 2023.
“Simply put, that translates to almost 4 million visitors in 4 months. If this average holds and we hope it does, a million a month will result in a 20 percent increase year over year or 12 million overall arrivals at year-end,” the minister said.
He stated that this growth not only highlights the country’s resilience but also underscores the enduring allure as a premier travel destination.
“Each month of 2024 has brought with it a wave of visitors eager to experience the beauty, culture, and hospitality of our islands.
“Our diverse islands have each contributed to our stellar performance. And the future of Bahamian tourism appears brighter than ever,” the minister said.
He noted that the ministry’s strategic initiatives, marketing campaigns, and continuous improvements in infrastructure and services are poised to attract more visitors.
“The figures we see today are not a product of chance but the result of strategic planning, targeted initiatives, and dedicated efforts,” he said. “Our tourism strategy has been multifaceted, involving strategic partnerships, enhancing airlift capacities, and executing missions across key cities in the USA and Canada.”
According to the minister, the diverse islands have each contributed to tourism’s stellar performance.
He reported that Nassau/Paradise Island remains the most popular destination, welcoming 1,870,438 visitors from January to April 2024, a 13.2 percent increase from the same period last year. Grand Bahama, Abaco, and Eleuthera have also shown remarkable growth, with increases of 6.8 percent, 3.8 percent, and 2.7 percent respectively.
Also, Grand Bahama and Abaco continue to lead the way in the increase in arrivals by air with 7 percent and 15.5 percent respectively. The Berry Islands, in particular, have seen an impressive 13.3 percent rise in arrivals.
“Cruise tourism continues to play a significant role in our success story,” he said.
From January to April 2024, the country recorded 3,210,541 cruise arrivals, marking a 14.8 percent increase from 2023.
“This surge speaks to the strong partnerships we have forged with major cruise lines and the appeal of our ports of call.
“Our stopover visitors have shown a strong preference for extended stays, reflecting their desire to fully immerse themselves in the Bahamian experience,” he said.
It is estimated the average spend per cruise passenger is just over $100, while stopover visitors spend around $2,800 each.
“We’re driving spending. By the way, we are working tremendously hard to grow that cruise spend number by deploying strategies to increase the number of guests disembarking, improving numbers of tours, and deploying strategies like the smart city initiative,” the minister said.
He stressed, “This significant expenditure has contributed to an estimated total direct tourist spend in the range of $6 billion, underscoring the critical role tourism plays in our economy. And we’re growing jobs.”
The deputy prime minister also spoke to the continued revitalization of Downtown Nassau, and the work of the Tourism Development Corporation, which is the establishment of incubators.
“These incubators will serve as hubs for nurturing entrepreneurial talent and innovation within the tourism sector,” he said.
He touted as one of the highlights of this budget process, the $125 million Saudi Fund for Development loan to accelerate the Airport Renaissance Program throughout the Family Islands.
“We are leaping forward with our Family Islands Renaissance Project with a Request for Proposals (RFP) to design, build, finance, operate, and maintain a portfolio of 14 airports across Grand Bahama and our Family Islands,” he confirmed.
He revealed that an expansion plan is underway to revamp the local Aviation Industry.
“Changing the face of the Aviation industry is a herculean task and there are many, many moving parts. The work continues, but we have made critical achievements,” he said.
According to the minister, Foreign Direct Investment “is without question the fastest way to grow our economy, and we are doing our part to attract and secure these investments.
“Since coming to office, we have approved more than $8.5 billion in new Foreign Direct Investment.
“This is a monumental show of confidence in The Bahamas, our economy and our administration. Our investment strategy has been robust and far-reaching.”
