Research and Markets has announced the addition of Travel & Tourism International 2005 - Profile of The Bahamas to their offering. Since attaining independence from the UK in 1973, The Bahamas have flourished through tourism and international banking and investment management.
The tourism industry has prospered over the years and now accounts for approximately 60% of the country’s GDP.
In 2003 the islands received some 1.5 million visitors, 86% of whom were from the US. Arrivals peaked in 1996 at 1.6 million when the US economy was strong though, since 2000, total arrivals have steadily fallen, exacerbated by the events of 9/11 and the war in Afghanistan and Iraq.
Recovery began in 2004 with indicators suggesting that arrivals will return to growth despite being hit by two severe hurricanes in September 2004.
As the Bahamas made a speedy recovery from the hurricane damage a $6 million dollar promotional campaign and heavy discounting from the hoteliers will ensure the destination remains competitive during 2005.
This country profile report is part of the Travel and Tourism International subscription. This series provides quarterly tourism profiles of destination countries. Each quarterly issue features six profiles, all providing a cross-section of countries either established or emerging as tourism destinations.
Vital to industry professionals who must accurately evaluate a country’s tourism prospects and capacity, each report pools together the most relevant market-based information and analysis.