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Central Bank: Tourism hit by Dorian, but FDI remains strong – PDFs

Domestic economic developments in September were dominated by the passage of Hurricane Dorian, which resulted in a falloff in tourism, but foreign direct investment projects were sustained, according to The Central Bank of The Bahamas' monthly economic review. Read the full report here. 

Source:
Date:
Updated:
Central Bank of The Bahamas
Wednesday, November 6, 2019
Wednesday, November 6, 2019

Domestic economic developments for the month of September were dominated by the passage of Hurricane Dorian, which resulted in a falloff in tourism relative to an average monthly strengthening during the first eight months, according to The Central Bank of The Bahamas monthly economic review.

Nonetheless, positive impulses to construction output from foreign direct investment projects were sustained, with contributions from the domestic sector likely to increase as post-hurricane rebuilding efforts intensify.


Further, domestic energy costs firmed in the 12 months to July, reflecting the pass-through effects of the previous-year’s increase in the value added tax (VAT) rate.

In the monetary sector, bank liquidity expanded during the review month, as the rise in total deposits outpaced the growth in credit, while external reserves grew amid foreign currency inflows from reinsurance receipts and to a lesser extent from real sector activities.

Read the full report and a presentation by Central Bank here:

As a member of the The Caribbean Tourism Organization, The Bahamas is attending the World Travel Market in London this week.

During the 60th annual Fort Lauderdale International Boat Show, held October 30-November 3, the Ministry of Tourism and Aviation presented yacht charter operators, brokers and owners with a multitude of options for visiting the islands of The Bahamas.

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