The Bahamas will become reliant on tourism than ever before. It is expected to generate almost 60 per cent of GDP within a decade.Published on : Thursday, April 12, 2018
The Bahamas will become reliant on tourism than ever before. It is expected to generate almost 60 per cent of GDP within a decade.
The World Travel and Tourism Council (WTTC) has predicted in its annual assessment that the sector’s GDP and investment growth rates will speed up even faster than this year over the 10-year period to 2018.
For the Bahamas, tourism is set to become the primary component for its economic growth and its best job creation driver.
The Bahamas is currently the world’s ninth most tourism-reliant economy, in terms of the sector’s contribution to GDP.
On the employment front, the WTTC has predicted that the direct tourism industry workforce will expand by 20,000 over the next decade.
Tourism-related visitor exports were almost 73 per cent of total Bahamian exports in 2017.
Tags: bahamas, World Travel and Tourism Council