Tourism Satellite Account Report Released
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]
Remember the bad old days. Remember when the bad old UBP were running things &everyone who wanted to work had a job. Remember when tourism accounted for over half of our GDP. sure don’t want to go back to a party similar to them in charge do we.
How is it that Hotel Payroll Tax is shown to contribute 17% to Government Revenue when the Government has given Hotels a waiver to pay Payroll Tax up to March 31 2012?
qlq math.
it says Hotel Occupancy tax not hotel payroll tax….
Hotel Occupancy tax is 4%.
I’d be very suspect of this report anyway. For example, how do they calculate Bermudians expenditure abroad? Who completes a form detailing what I’ve spent, and on what so they are merely guesstimates. Is business travel, this isn’t tourism, included?
“how do they calculate Bermudians expenditure abroad?”
It’s called a Customs Form. I am sure you have filled out one of these before.
The report says Bermudians spent $413m on foreign travel.
The amount spent on foreign travel does not in fact include items purchased and brought back, and disclosed on the Customs Form.
The Customs Form includes no information about how much is spent on overseas flights, taxis, car rentals, hotels, meals, theme park tickets, cruises, and all other overseas expenses. Obviously.
Now do you understand the reason for the original question? They have no way of knowing what Bermuda residents spend on overseas trips. Unless, of course, you have another smarta$$ answer for us…
Paulanomics
Is this the first time the Statistics Dep’t has published the Tourism Satellite Account Report?? I don’t recall seeing it before. Or maybe I missed it last year… or is this just more not-so-subtle plp electioneering?!
Why does it take nearly a year to get these type of stats out? I mean especially given the size of the civil service and all.
this is unacceptible….trash numbers…this is the sh!t they should keep secret…you still got your t-shirt saying “I Made It Happen”…I got my t-shirt, and it says “You Made It Happen”…
My 13yr old T shirt says” Don’t blame me I didn’t vote for them”
This report in essence is trying to say “you are better off than you were 4 days ago”
So take that $30m an buy air tickets at about $300 each and give away 100,000 tickets to Bermuda, that will generate more publicity than they ever dreamed of.