Bermuda Tourism Authority Reports Promising Q3 Tourism Figures
(Hamilton, Bermuda – November 10, 2023) – The Bermuda Tourism Authority (BTA) today announced the destination's third-quarter tourism performance for the period ending September 30, 2023. Despite facing various challenges, Bermuda has shown continued progress in the tourism industry.
The Q3 figures show steady growth in air arrivals, totaling 61,451 in Q3, representing an increase of 18% vs Q3, 2022. Leisure air arrivals also increased, totaling 44,579, representing an increase of 13.4% compared to Q3 last year.
In the cruise sector, Bermuda welcomed a total of 196,223 passengers through 58 calls during Q3. The yacht sector recorded less visits compared to Q3, 2022 with 33 yacht visits, including 4 superyachts in Q3, 2023. Year to date there have been 611 visits by yachts including 50 superyachts which is 11% less than YTD 2022. However, this sector remains an important part of the tourism landscape and contributed estimated direct economic impact of approximately $9 million in Q3.
Visitor expenditure, a crucial indicator of economic impact, demonstrated favourable trends. Total air expenditure reached $118.8 million, a 24.1% increase from the previous year. Per-person spending amounted to $1,933 a 5.2% increase. Cruise visitors on average spent 6.2% more per person than in Q3 2022 totalling $52.5 million in estimated visitor spending, a 17.9% increase.
Hotel occupancy increased 13.2% compared to Q3, 2022 with Hotel RevPAR (Revenue Per Available Room) increasing 14.7%, compared to 2022 and up 52% vs. 2019. The ADR (Average Daily Rate) increased 1.3% from Q3, 2022 and is up 57% vs. 2019. Hotel inventory (open and bookable) remains at 74% of 2019 levels. Vacation rental occupancy was 78.5% in Q3, up 5% vs Q3, 2022.
Total visitor arrivals YTD (Air, Cruise & Yacht) reached 556,637, an increase of 33% vs 2022 and have recovered to 83.5% of 2019 arrivals. YTD compared to the first nine months of 2022, air arrivals increased 31.5%, cruise visitors increased 33.9%, hotel occupancy increased 19.5% and hotel RevPAR and ADR increased 26% and 5.3% respectively.
Wayne Caines, the Chairman of the BTA Board, said: "The third-quarter results are certainly moving in the right direction, and I am encouraged by the continued progress in recovering to pre-Covid visitor arrival and expenditure levels. The team at the BTA as well as industry partners remain committed in their resolve to continue to reinvent and reinvigorate Bermuda’s tourism product, investment, and offerings. I am confident 2023 will be a successful year and look forward to continued growth in 2024 and beyond.”
BTA CEO Tracy Berkeley said: “Certainly the Q3 data is encouraging. However, we continue to face ongoing challenges with lack of hotel capacity which impacts airline seat capacity. We were also unfortunate to be impacted by several tropical systems which caused multiple cancellations in cruise and air arrivals. Despite these challenges, the revenue figures for the quarter and year to date are encouraging and visitor spending for air and cruise combined in 2023 is $393.7M which is 93.4% of 2019 levels. Hotels have also performed well in terms of RevPAR and when the Fairmont Southampton project is able to move forward it will be a much-needed increase in hotel bed inventory which is essential to meet growing demand and increase group-sales bookings and revenue. There have been many exciting initiatives launched by the BTA in Q3 and I look forward to increased partner and community support in ensuring continued recovery and future growth in our tourism industry.”
Bermuda Tourism Authority quarterly tourism measures and annual reports are available on the corporate page.
