Statistics Bulletin: Imports, Employment, Visitors
According to the 2017 Q2 Quarterly Bulletin of Statistics, the value of imports increased 37.4%, employment income increased 4.0%, and the Island hosted 87,324 air visitors during the second quarter of 2017, an increase of 15.3% when compared to the same period of 2016.
Imports
The report said, “The value of imports increased 37.4 per cent to $355.3 million. All commodity groups recorded increase with the largest increases being recorded in the finished equipment category and transport equipment such as yachts.
“Imports from the United States of America increased to $226.1 million. Imports from the ‘all other countries’ category rose $20.1 million and imports from the Caribbean region increased $13.6 million. Imports from the United Kingdom was $11.9 million higher year-over-year.
Chart extracted from the report:
Employment Income by Industry
The report said, “Employment income increased 4.0 per cent or $32.2 million. The international business sector recorded the largest increase in remuneration of $18.1 million due to higher stock options. Another notable increase was recorded for the wholesale and retail sector which rose $5.9 million.
Arrivals and Expenditure
“The Island hosted 87,324 air visitors during the second quarter of 2017, an increase of 15.3 per cent when compared to the same period of 2016. Estimated total expenditure by air visitors rose 30.6 per cent to $137.8 million year-over-year. Visitors spent $19.9 million more on accommodation and food as well as $12.4 million more on shopping, entertainment and transport services.
“A total of 63 cruise ships visited the Island carrying 138,760 passengers. Total expenditure for these passengers was estimated at $22.6 million, reflecting a $2.4 million decline.
Chart extracted from the report:
Hotel Accommodations
“At the end of April 2017, there were 2,486 workers employed within the hotel industry. The level of employment increased by 103 employees, representing 25 less Bermudians and 128 more non-Bermudians.
“Hotel gross receipts totaled $112.4 million. This represented an increase of 16.9 per cent or $16.2 million. The gain in hotel gross receipts reflected mostly an $11.9 million rise in room sales. The combined sales of food and alcohol grew $1.5 million year-over-year.”
The full Quarterly Bulletin of Statistics follows below [PDF here]:
This is excellent news and shows that Bermuda can create economic situations that stimulate the economy.
Thank you to everyone that made the AC happen. There are so many of us in Bermuda that are grateful for your vision and committment to this event.
I do hope that one day most Bermudians, including the current sitting Government, will look beyond the programmed logic they had to support and see this event for what it was–an economic stimulator and global success of which we should all be proud.
Thank you ACBDA team and everyone that put their money where their mouths were to make this event make Bermuda shine.
If only everyone that talked so much could deliver such results we would be a very successful country and society.
Blessing abound.
This all happened while the OBA was in government.
The real test is yet to come. The results should be very interesting!
Watch the debt ceiling rise. Each day now we hear of more civil jobs being created. Think Tanks with payments attached. For a party that convenienced the public they understood the job and had a plan to continue upward mobility for all of of us Bermudians, this is a bad joke. Anyone know how much the Min bus contracts are up to? Enough to buy all the School kids parents / guardians cars of their own. The not so funny part is our credit limit is max out. I call this one a house of cards, with no aces left. Good luck on borrowing more money at the highest interest rate. If you don’t understand inflation you will feel.