Historical Tourism Data

This report provides a valuable and comprehensive overview of Bermuda’s tourism landscape, presenting key historical data that highlights the industry’s strengths and opportunities for growth. Its focus on critical metrics such as visitor spending, total arrivals, and accommodation trends underscores a clear understanding of the factors that drive the tourism economy. The inclusion of data spanning multiple decades demonstrates a commitment to tracking progress and identifying long-term trends, which is essential for informed decision-making. Additionally, the mention of planned hotel developments and the strategic shift toward funding the industry through visitor fees reflects a forward-thinking approach to sustaining and enhancing Bermuda’s position as a world-class destination. Overall, the report effectively serves as a foundational resource for stakeholders aiming to build on Bermuda’s strengths and shape a thriving future for the tourism sector.

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Visitor spending continues to be a cornerstone of Bermuda’s tourism economy, with air visitors significantly outspending cruise visitors, highlighting the importance of attracting high-value travelers. Total visitor arrivals have shown fluctuations over the years, with air arrivals declining in recent times, while cruise and yacht visitors remain a strong contributor. Accommodation trends reveal a notable reduction in licensed hotel properties, paralleling the decline in air arrivals, though future development projects aim to address this gap and increase the island’s room count. Additionally, the tourism budget demonstrates a shift toward funding from visitor fees rather than government grants, reflecting a sustainable approach to industry management. These insights provide a comprehensive view of Bermuda’s tourism landscape and underscore the need for strategic initiatives to sustain and grow the sector.

This report provides an overview of key historical data and trends in Bermuda’s tourism sector as of September 2023. Included in this report is:

1. Average Spending Per Visitor: Visitor spending is highlighted as a critical tourism metric. Spending has varied over the years, with significant differences between air and cruise visitors. Air visitors tend to spend more than cruise visitors.
   
2. Total Estimated Visitor Spending: Over the decades, there have been fluctuations in total visitor spending, influenced by external factors like global economic conditions. While spending showed growth in certain years, it saw sharp declines during economic downturns and the COVID-19 pandemic.
   
3. Total Visitor Arrivals: Visitor arrivals have fluctuated, with air arrivals showing a downward trend in recent years. Cruise and yacht visitor numbers have varied but contributed significantly to total arrivals.
   
4. Accommodation Trends: The decline in licensed hotel properties mirrors a reduction in air arrivals. However, planned hotel developments are expected to increase the island’s room count, addressing the accommodation gap.
   
5. Tourism Budget: The report notes a gradual shift toward funding the tourism industry through visitor fees rather than relying solely on government grants. The budget’s alignment with inflation-adjusted spending demonstrates efforts to sustain industry management.

This data highlights the importance of addressing challenges in air arrivals, enhancing spending per visitor, and strategically expanding accommodations to support Bermuda’s tourism industry.

The report highlights several key findings about Bermuda’s tourism sector. Visitor spending remains a critical metric, with air visitors consistently spending more than cruise visitors, emphasizing the importance of attracting high-value travelers. Over time, total visitor spending has experienced fluctuations, influenced by external factors such as global economic conditions and the COVID-19 pandemic, but shows potential for growth. Total visitor arrivals have also varied, with a notable decline in air arrivals, while cruise and yacht arrivals continue to contribute significantly. Accommodation trends reveal a parallel decline in licensed hotel properties and air arrivals, underscoring the need for development projects to address the accommodation gap. Finally, the tourism budget reflects a strategic shift toward greater reliance on visitor fees, reducing dependence on government grants and ensuring more sustainable funding for the industry. These findings collectively underscore the importance of targeted strategies to boost visitor spending, enhance air arrivals, and expand accommodations to support the continued growth and success of Bermuda’s tourism economy.