NASSAU, BAHAMAS – The total number of foreign arrivals to the Bahamas increased by nearly 22 percent in the third quarter, according to Central Bank data.
In it Quarterly Economic Review For September 2024, the regulator noted: “According to the Ministry of Tourism, the total number of foreign arrivals increased by 21.6 percent to 2.6 million people in the three months to September, which is 2.6 million in the same quarter of the previous year. It exceeded 2 million visitors. Sea transport increased by 27.3 percent compared to the corresponding period of last year and reached 2.3 million people. On the contrary, air transport with high added value decreased by 5.9 percent to 0.35 million passengers.
A breakdown by major ports of entry revealed tourist arrivals at New Providence rose 27.1 percent to 1.2 million, driven by a 42.3 percent increase in sea traffic, despite a 5.8 percent drop in air passengers. Visitor arrivals in the Family Islands increased by 21.1 percent to 1.3 million, while the number of marine tourists increased by 23 percent, down 8.2 percent from the previous year. Conversely, Grand Bahama arrivals fell 10.9 percent to 0.13 million visitors, while sea arrivals fell 12.3 percent, overshadowing a 7.7 percent increase in air traffic.
The short-term vacation rental market also showed mixed results. According to data from AirDNA, the total number of nights booked increased by 8.8 percent to 11,146. However, the average occupancy rate across all location listings fell 3.7 percentage points to 29.0 percent, and the average daily rate (ADR) fell 5.1 percent to $588.54. In comparable hotel listings, occupancy was down 2.0 percentage points to 34.0 percent and ADR was down 9.2 percent to $157.17.
Data from Nassau Airport Development Company Limited (NAD) showed that total departures for the third quarter, excluding domestic passengers, were flat at 0.4 million compared to the same period last year. The number of departures from the United States remained unchanged at 0.4 million, while international departures decreased by 1.5 percent.