This year's Financial Times survey makes no secret of Bermuda's spiralling numbers, but does not abandon all hope for the struggling tourism industry.

The one of two articles on tourism is peppered with figures of fewer arrivals, fewer hotel beds, fewer nights and falling visitor expenditure.

But Tourism Minister David Allen explained that the decrease in available rooms was due to the renovation of hotels.

"We cannot have gain without pain,'' he told the FT.

The article detailed recent tax incentives for hotel development, which Government hopes will lure a more affluent visitor to the Island.

Mr. Allen told the newspaper that the Island did not want to attract the same high number of visitors as it had in the past (610,000 in 1980, for example).

He said there had been too much focus on the number of visitors when attention should have been given to the amount of money visitors spent.

"The concentration on the high end of the market is seen as one way of dealing with competition,'' wrote journalist Canute James.

Put when the FT spoke to Opposition Leader Pamela Gordon, the newspaper was told that Government was spending too much on promoting the Island and not enough on improving the quality of the product.

"The level of service is not good,'' Ms Gordon said.

The article also addressed the possibility of further downturns in tourism as the US economy slows. But Bank of Butterfield CEO Calum Johnston told the FT that Bermuda would be the last part affected because it focuses on the high-end of the market.

Another article, "Not just blue sea and pink sand'' detailed some of the more creative possibilities for boosting tourism.

"Bermuda has always tried to differentiate itself from Caribbean resorts, stressing that its attractions go way beyond coral blue sea and sun-soaked ink beaches,'' wrote journalist Richard Lapper.

"But as competition intensifies, its promoters are putting even more emphasis on its historical, cultural and ecological heritage.'' Curator of forts Lance Furbert told the FT: "History has taken a back seat in the past. Now, not only is it something that we see as important -- it is something that we can sell.'' Spending: David Allen BUSINESS BUC