NASSAU, BAHAMAS — The country’s vacation rental market continued to show steady gains to begin the year, with total room nights sold rising “more than twofold” from the corresponding period in 2021, according to Central Bank data.
The regulator, in its Monthly Economic and Financial Developments Report for January, noted: “In the vacation rental market, data provided by AirDNA for the month of January indicated steady gains in the demand for short-term rentals.
“Specifically, during the review month, total room nights sold rose more than twofold to 113,559 from 41,064 in the corresponding 2021 period.
“Reflective of this outcome, occupancy rates for both entire place and hotel comparable listings firmed to 50.8 percent and 47.9 percent respectively, from 29.1 percent and 30.5 percent in the comparative COVID-19-constrained period last year.”
The report also noted that on an annual basis, total visitor arrivals rebounded by 17.1 percent in 2021, a reversal from the 75.2 percent reduction in 2020.
“Tourism metrics for the month of January indicated that the sector’s output maintained its recovery momentum, notwithstanding the ongoing spread of the COVID-19 pandemic,” the regulator noted.
“The latest available data from the Ministry of Tourism showed that total visitor arrivals by first port of entry expanded to 500,718 in December, from a mere 33,681 in the corresponding period of 2020, when international borders reopened with restrictions.
“Underlying this outturn, air arrivals rose to 118,501, from 30,009 in the previous year — representing 84.6 percent of the air visitors recorded in 2019.”
Additionally, sea traffic recovered to 382,217, relative to a volume of just 3,672 in the prior year.
“A breakdown by major ports of entry revealed that total arrivals to New Providence advanced to 231,139 from 18,525 a year earlier,” the Central Bank stated.
“Contributing to this development, the sea and air segments measured 91,532 and 139,607 respectively.
“Foreign arrivals to Grand Bahama increased to 12,355, extending the volume of a mere 1,573 registered a year earlier, as air and sea arrivals amounted to 2,303 and 10,052, respectively.”
