Statement by Prime Minister Davis on Leveraging Record-Breaking Tourism to Drive Economic Growth and Diversify the Bahamian Economy

Today, as we celebrate the remarkable milestone of welcoming eight million visitors to The Bahamas, it’s crucial to reflect on the broader economic significance of this achievement. This record-breaking number is not just a triumph for our tourism sector; it’s a catalyst for comprehensive economic growth and a clarion call for diversification within our economy.

The surge in tourism directly contributes to our national income, creating extensive employment opportunities and stimulating various sectors of our economy. But beyond these immediate benefits, it provides a unique opportunity to drive our economic growth forward, with a particular focus on diversifying our product offerings and investing in Bahamian businesses.

My administration is steadfast in its commitment to harnessing this momentum for our economy’s greater good. We aim to sustain and grow our tourism numbers and ensure that the benefits of this growth are felt across the breadth of our economy.

A key aspect of our strategy will be to deepen the linkages between tourism and other sectors. We recognize the importance of creating a symbiotic relationship between tourism and local industries. By fostering these connections, we can ensure that the economic benefits of tourism are more broadly distributed, supporting the growth of local businesses and entrepreneurs.

Investing in Bahamian businesses is central to this strategy. We aim to empower local entrepreneurs, providing them with the resources and support needed to tap into the tourism market. This approach will stimulate economic activity and showcase the Bahamian people’s rich cultural heritage and creativity to the world.

Diversification is another cornerstone of our strategy. We understand that a dynamic and resilient economy cannot rely solely on one sector, regardless of its strength. Therefore, we are focusing on diversifying our tourism product, exploring new markets, and innovating our offerings. This diversification will attract a broader range of visitors and create new opportunities for investment and development within our economy.

This historic achievement in tourism is more than a fleeting moment of success; it is a foundation upon which we will build a more robust, diverse, and prosperous economy. I extend my deepest gratitude to the Deputy Prime Minister and Minister of Tourism, the Hon. I. Chester Cooper, his team, and most importantly, the Bahamian people, whose unwavering spirit and dedication have made this possible.

I also take this moment to extend a heartfelt thank you to all the stakeholders who have played a pivotal role in reaching this historic milestone. Our airline and hotel partners, the promotion boards, and all the local vendors and operators have been instrumental in making The Bahamas the destination of choice for millions.

Each of you, through your tireless efforts and commitment to excellence, has helped to weave the rich foundation of experiences that our visitors treasure. Your collaboration, innovation, and dedication have enhanced our tourism product and significantly contributed to our nation’s economic resilience.

To our airline partners, who have connected us with the world; to our hoteliers, who have provided exceptional hospitality; to our promotion boards, who have tirelessly marketed our islands; and to every local vendor and operator, who have shared the true spirit of The Bahamas – I offer my deepest gratitude.

Your collective efforts have met and exceeded expectations, ensuring every visitor to our shores leaves with lasting memories and a deep desire to return. This achievement is as much yours as it is The Bahamas’, and together, we will continue to build on this success to benefit our nation and its people.

As we celebrate this milestone in tourism, we reflect on the promises laid out in our blueprint for change. This significant tourism growth aligns with our strategic vision to revitalize and expand our economy by diversifying our tourism offerings, strengthening community engagement, and providing greater economic opportunities for Bahamians. 

Our blueprint’s commitment to enhancing the Tourism Value Chain, incentivizing Bahamian ownership in the tourism sector, and expanding the scope of our tourism model to include sports and heritage tourism is already bearing fruit. This record-breaking number of visitors serves as a testament to our government’s dedication to these goals and to ensuring that the prosperity of our tourism sector is felt across every layer of Bahamian society.

Together, we will continue to work towards a future where The Bahamas is a premier global destination and a vibrant, diverse economy that offers opportunities and prosperity for all Bahamians.