NASSAU, BAHAMAS- The short-term vacation rental market expanded by 11.9 percent in January, with total room nights sold rising to 57,066 compared to the same period in 2025, according to the Central Bank’s Monthly Economic and Financial Developments report for January.
The Central Bank in its report noted that occupancy rates strengthened across both major listing categories. Entire place listings increased to 43.8 percent from 41.6 percent a year earlier, while hotel comparable listings climbed to 48.5 percent from 45.8 percent in January 2025.
Average daily rates also moved higher. The ADR for entire place listings rose by 7.6 percent to $690.70 year-over-year, while hotel comparable listings recorded a 5.0 percent increase to $178.10 compared to the prior year.
Beyond tourism activity, the report highlighted an expansion in banking sector liquidity, as seasonal deposit growth outpaced the rise in domestic credit. Excess reserves increased by $94.3 million to $1,939.3 million, reversing a $3.1 million decline in the previous year. Excess liquid assets grew by $55.2 million to $3,166.3 million, a turnaround from a $1.9 million falloff a year earlier.
External reserves also strengthened, rising by $37.1 million to $2,849.3 million in January, exceeding the $10.3 million buildup in the same period last year. The Central Bank’s net purchases from commercial banks widened to $80.8 million from $47.5 million, while commercial banks’ net intake from customers increased to $112.4 million from $66.0 million. However, net foreign currency sales to the public sector rose to $47.1 million compared to $38.7 million in January 2025.
Meanwhile, provisional data showed that foreign currency sales for current account transactions contracted by $12.6 million to $536.6 million year-over-year. Outflows declined for factor income remittances by $40.6 million, non-oil imports by $5.5 million, and travel by $1.1 million, while increasing for “other” current items by $26.9 million, transfer payments by $4.0 million, and oil imports by $3.7 million.
