Today the Minister for the Cabinet Office the Hon. Wayne Furbert, JP, MP, released the 2018 Tourism Satellite Account report from the Department of Statistics.
The Minister said, "I was particularly encouraged to note from the report that direct employment in the tourism industry had increased to 3,204 jobs in 2018, up from 2,996 in 2017 and 2,607 in 2016. Additionally, the sector paid out $279 million in wages during 2018 - up almost 5 per cent from 2017. This employment was spread across various industries including accommodation services, restaurants, transport, recreation services and retail trade. Compared to other industries, the tourism industry was the fourth largest employer in Bermuda in 2018. For employment of Bermudians specifically, the tourism industry ranked third behind retail trade and public administration."
The Minister of Tourism and Transport the Hon. Zane DeSilva said, “Bermuda’s tourism industry continues to grow with visitors spending $544 million purchasing tourism products, an increase of 16.1 per cent over 2017. The higher level of spending was directly attributable to a rise in cruise passenger arrivals and stay-over visitors as well as an increase in average per-person expenditure by both.
“Employment growth in the tourism sector is also great news, and with the opening of new hotels in 2020, these numbers are expected to increase even further and provide more Bermudians the opportunity to secure employment and build successful and fulfilling careers.”
Other highlights from the 2018 Tourism Satellite Account report include:
- Tourism contributed $166 million or 16 per cent of the total government revenue for 2018.
- Visitors spent $544 million purchasing tourism products, an increase of $75 million over 2017.
- Residents spent an estimated $332 million on foreign travel in 2018, a decrease of $30 million from 2017.
Minister Furbert added, “The Tourism Satellite Report highlights the direct, indirect and induced effects of the tourism industry on output, employment and wages in Bermuda. In 2018, the direct contribution of the tourism industry’s Gross Value Added (GVA) to the Bermuda economy was $386 million, representing 5.3 per cent of GDP in current prices - up 12.5 per cent from 2017.
"The public is advised to read the concepts and definitions on the last page of the report prior to reviewing the data.”
The 2018 Tourism Satellite Account report is available online at https://www.gov.bm/tourism-statistics.