Visitor spending falls in 2012 – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

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Visitor spending falls in 2012

Visitors pumped $415 million into the Bermudian economy last year — a drop of $37 million on 2011's figure, according to Government's Department of Statistics..

The tourism industry supported 5,756 local jobs in 2012. However, the number of workers earning their pay cheques exclusively from tourism dropped by almost six percent, to 3,952.

Bermuda last year hosted a total of 615,171 visitors, and tourism remains the third pillar of the local economy, accounting for 11 percent of the workforce overall — behind public administration, and the wholesale and retail trade sectors.

For every ten jobs directly dependent on tourism, a further 4.6 jobs were created in the Island's workforce.

However, wages derived from tourism declined to $447 million last year, down $11 million on the previous year.

Out of this, earnings coming directly from tourism accounted for $248 million, or 55 percent.

Overall, the tourism industry directly contributed $293 million, or 5.4 percent, to the Island's Gross domestic Product (GDP) in 2012 — which the Department reported was “fractionally lower” than 2011.

GDP generated by business in the tourism-related sector totalled $657 million.

Government spent a total of $31 million on tourism services. Expenditure on promoting and marketing tourism rose by six percent, or $1 million.

Government outlay increased in staff training, while tourism-related travel declined.

Hotels and guest houses contributed $122 to Bermuda's tourism GDP — 86 percent of it earned directly from tourists, a drop of one percent on the previous year.

Detailing the drop in visitor spending, the department said spending on accommodation had gone down by $27 million. It fell by $5 million on guide services, and by $4 million on food and beverages.

Meanwhile, Bermuda residents spent about $411 million last year on foreign travel — $2 million less than they parted with in 2011.

High season: Bermuda played host to more than 600,00 visitors last year

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Published September 26, 2013 at 4:35 pm (Updated September 26, 2013 at 4:35 pm)

Visitor spending falls in 2012

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