Tourism shows increase in revenue and jobs
Employment directly related to tourism increased 15 percent during 2011, according to Government statistics released yesterday.The Bermuda Tourism Satellite Account Report 2011 found that 4,199 people were employed in the sector last year, up from 3,654 the year before.The statistics include a wide range of job descriptions from hotels, which employs 2,379 people, to restaurants, retail, road passenger transport and Marine and Ports.Employment of Bermudian workers represented 72 percent or 3,008 workers engaged in tourism industry employment. This compares favourably to the 2,567 Bermudian workers employed in the tourism industry in 2010.The report found that tourism directly contributed $317 million, or 5.7 percent, to Bermuda’s GDP.Visitors spent $452 million in Bermuda, while Bermuda residents spent $413 million on foreign travel.Government spent $30 million to provide tourism services, while the industry contributed $220 million (or 24 percent) to the Bermuda’s 2011 current account revenue.Total tourism-related value added increased to $681 million in 2011, up from $657 million in 2010. The total value added comprised $317 million in direct tourism output that is, output sold directly to visitors like accommodation and passenger air travel; and, $364 million in indirect tourism output.In 2011, the tourism industry’s contribution to GDP stood at 5.7 percent, which was slightly higher than the previous year’s level, but remained below the 6.1 percent peak share of GDP reached in 2006.Hotels and other guest properties were the largest contributors to tourism gross value added in 2011, accounting for 46 percent or $146 million.Approximately 87 percent of total hotel revenue was earned directly from tourists. This represented a one percent decrease from the level reported in 2010. Additionally, the combined contribution from transport and restaurant services represented 20 percent or $62 million of total tourism gross value added.Higher employment in the tourism industry. The tourism industry directly generated 4,199 jobs in 2011, an increase of 15 percent. These jobs accounted for 11 percent of the total workforce. The industry was the third largest employer of Bermudian workers in the labour market following behind the Wholesale and Retail Trade sector and the Public Administration sector.The report stated that a total of 655,236 visitors to Bermuda translated into $452 million spent on goods and services within the local economy. The total level of spending by air, yacht and cruise visitors (including crew members), increased by $49 million when compared to spending levels recorded in 2010.Bermuda residents spent an estimated $413 million on foreign travel in 2011, $4 million less than in 2010. Expenditure on transportation services such as the cost of airline tickets, cruise fares and taxi services was the largest component of this category, amounting to $139 million, down four percent from the previous year.All other categories of spending on food, accommodation and recreation services increased during 2011.Spending by Government on tourism promotion, marketing and related professional services was 22 percent, or $6 million, lower than 2010, representing two-thirds of total Government outlays on tourism in 2011. Expenditure on tourism-related travel increased by 19 percent compared to last year.