Tourism directly contributed $317 million — or 5.7% — to Bermuda’s GDP, according to the Tourism Satellite Account Report for 2011, which was released today by the Department of Statistics.
The report defines the tourism industry and measures its contribution to GDP and employment in a way that is consistent with national accounts.
The report said that 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 [output sold directly to visitors like accommodation and passenger air travel] and $364 million in indirect tourism output.
“The 2.1 ratio of total output ($681m) to direct output ($317m) in 2011 meant that for every dollar of direct tourism output generated, another $1.10 of indirect tourism output was produced,” said the Report.
“The tourism-related employment level grew by 564 workers to 6,158 jobs in 2011. This total included 4,199 jobs directly related to tourism and 1,959 jobs from indirect tourism.
“Direct tourism employment comprises jobs that produce direct tourism output such as hotel and restaurant staff, and indirect tourism employment includes jobs that generate indirect tourism output such as employees of businesses that provide food supplies to hotels and restaurants.
The report also stated that Bermuda residents spent an estimated $413 million on foreign travel in 2011, $4 million less than in 2010.
In addition, the Bermuda Government spent $30 million in current expenditure to facilitate the operation of the tourism industry. Spending on tourism promotion, marketing and related professional services was 22% or $6 million lower than 2010.
The full report is below [PDF here]