Governor of the Central Bank of The Bahamas, John Rolle, released the bank’s latest quarterly report on the economy on Monday.

According to the report there has been a decline in the arrival of stopover tourists. Rolle said, “in the stopover segment where the bulk of this industry’s receipt were recorded, inflows were boosted because of higher average pricing despite a slightly reduced number of visitors. The vacation rental segment contributed notably with an expanded list of properties supporting a nearly 10% increase in average room sales and further appreciation in average nightly room rates occurring alongside the room sales increase.”

The Central Bank Governor said tourism is expected to show mixed trends for 2025 with a slowdown in US stopovers, sustained expansion in vacation rentals and non US stopover arrivals and cruises.

“Despite the contrast though between performance in hotels versus vacation rentals, the Central Bank analysis of online travel sites and forward looking bookings and pricing data forecast better hotel sector revenues over the remainder of this year as compared to the second half of last year,” he said.

The forecast is based on an increase in room rates with no forecasted increase in occupancy.