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    TSA Executive Report 2011

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    Erwin
    Tourism directly contributed $317 million to Bermuda's GDP in 2011, a 5.3% increase from 2010. Total tourism-related output grew to $681 million as tourism employment rose by 564 jobs to 6,158. Direct tourism jobs increased 15% to 4,199. For every $1 of direct tourism output, $1.10 of indirect output was generated, and for every 10 direct jobs, 4.7 indirect jobs were created. Visitors spent $452 million in 2011, up $49 million from 2010, while Bermuda residents spent $413 million on foreign travel. The government spent $30 million on tourism services.

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    TSA Executive Report 2011

    Uploaded by

    Erwin
    46 views4 pages
    Tourism directly contributed $317 million to Bermuda's GDP in 2011, a 5.3% increase from 2010. Total tourism-related output grew to $681 million as tourism employment rose by 564 jobs to 6,158. Direct tourism jobs increased 15% to 4,199. For every $1 of direct tourism output, $1.10 of indirect output was generated, and for every 10 direct jobs, 4.7 indirect jobs were created. Visitors spent $452 million in 2011, up $49 million from 2010, while Bermuda residents spent $413 million on foreign travel. The government spent $30 million on tourism services.

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    Tourism directly contributed $317 million to Bermuda's GDP in 2011, a 5.3% increase from 2010. Total tourism-related output grew to $681 million as tourism employment rose by 564 jobs to 6,158. Direct tourism jobs increased 15% to 4,199. For every $1 of direct tourism output, $1.10 of indirect output was generated, and for every 10 direct jobs, 4.7 indirect jobs were created. Visitors spent $452 million in 2011, up $49 million from 2010, while Bermuda residents spent $413 million on foreign travel. The government spent $30 million on tourism services.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    46 views4 pages

    TSA Executive Report 2011

    Uploaded by

    Erwin
    Tourism directly contributed $317 million to Bermuda's GDP in 2011, a 5.3% increase from 2010. Total tourism-related output grew to $681 million as tourism employment rose by 564 jobs to 6,158. Direct tourism jobs increased 15% to 4,199. For every $1 of direct tourism output, $1.10 of indirect output was generated, and for every 10 direct jobs, 4.7 indirect jobs were created. Visitors spent $452 million in 2011, up $49 million from 2010, while Bermuda residents spent $413 million on foreign travel. The government spent $30 million on tourism services.

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    Tourism Satellite Account (TSA) Report

    FOR THE YEAR ENDED 2011


    2011 HIGHLIGHTS:

    SUMMARY OF TOURISMS CONTRIBUTION

    The Tourism Satellite Account defines the tourism


    industry and measures its contribution to GDP and
    employment in a way that is consistent with national
    accounts. Total tourism-related value added
    increased to $681 million in 2011 (see bar chart
    below), up from $657 million in 2010. The total
    value added comprised $317 million in direct
    tourism output that is, output sold directly to visitors
    like accommodation and passenger air travel; and,
    $364 million in indirect tourism output (see Box I).
    The 2.1 ratio of total output ($681m) to direct output
    ($317m) in 2011 meant that for every dollar of direct
    tourism output generated, another $1.10 of indirect
    tourism output was produced.
    The tourism-related employment level grew by 564
    workers to 6,158 jobs in 2011. This total included
    4,199 jobs directly related to tourism and 1,959 jobs
    from indirect tourism. Direct tourism employment
    comprises jobs that produce direct tourism output
    such as hotel and restaurant staff. Indirect tourism
    employment includes jobs that generate indirect
    tourism output such as employees of businesses that
    provide food supplies to hotels and restaurants. For
    every 10 direct tourism jobs generated in 2011 an
    additional 4.7 jobs were indirectly created.

    2011 Total Tourism Impact

    o Tourism directly contributed $317 million, or


    5.7 per cent, to Bermudas GDP.
    o Employment directly related to tourism
    increased 15 per cent.
    o Visitors spent $452 million in Bermuda.
    o Bermuda residents spent $413 million on
    foreign travel.
    o Government spent $30 million to provide
    tourism services.
    o Tourism contributed $220 million (or 24%) to
    the 2011 Current Account Revenue.
    BOX I

    Direct tourism output comprises all domestically


    produced goods and services purchased by
    travellers (for example, accommodation and air
    transportation).
    Indirect tourism output comprises all output
    required to support the production of direct
    tourism output (for example, toiletries for hotel
    guest and local entertainment for hotels).

    2011 Tourism Contribution to Government Revenue

    share of economy
    Air terminal and
    aviation
    15%

    20%
    Induced

    Other
    2%

    Indirect

    Stamp duties
    1%

    0%
    GVA

    Employment

    Customs
    40%

    Payroll tax
    17%

    $448 million

    6,158 jobs

    $681 million

    10%

    5%

    Hotel
    occupancy
    4%

    Direct

    15%

    Wages

    DEPARTMENT OF STATISTICS

    Land sales
    5%
    Passenger
    taxes
    16%

    BERMUDA TOURISM SATELLITE ACCOUNT REPORT

    THE IMPACT OF TOURISM IN BERMUDA

    Tourism directly contributed $317 million to


    GDP.
    In 2011, gross value added produced from
    activities of tourism-related establishments such as
    hotels, restaurants, travel agencies and passenger
    transport businesses, totalled $684 million. Of this
    total, gross value added directly derived from tourist
    spending accounted for 46 per cent, or $317 million
    (see Table 1). This represented a 5.3 per cent
    increase above the level of gross value added
    received directly from tourists in 2010. In 2011, the
    tourism industrys contribution to GDP stood at 5.7
    per cent, which was slightly higher than the
    previous years level, but remained below the 6.1
    per cent peak share of GDP reached in 2006.

    In 2011, visitors spent $452 million on tourism


    products.
    In 2011, a total of 655,236 visitors to Bermuda
    translated into $452 million spent on goods and
    services within the local economy. The total level of
    spending by air, yacht and cruise visitors (including
    crew members), increased by $49 million when
    compared to spending levels recorded in 2010. All
    sectors
    experienced
    increases
    in
    visitor
    consumption. Visitor outlays on accommodation
    services and food & beverages increased by $10
    million and $8 million, respectively. In contrast,
    spending on recreation and other entertainment
    services grew by $9 million, while passenger
    transport services was up $6 million.

    WHAT ARE TOURISM ESTABLISHMENTS ?

    WHAT IS TOURISM VALUE ADDED ?

    These are establishments for which at least 25


    percent of their goods and services are bought by
    tourists. Examples include hotels, travel agencies,
    restaurants and passenger transport businesses.

    Tourism Value Added is the value of goods and


    services produced by tourism establishments less the
    cost of producing these goods and services.

    Hotels and other guest properties were the largest


    contributors to tourism gross value added in 2011,
    accounting for 46 per cent or $146 million.
    Approximately 87 percent of total hotel revenue
    was earned directly from tourists. This represented a
    one per cent decrease from the level reported in
    2010. Additionally, the combined contribution from
    transport and restaurant services represented 20 per
    cent or $62 million of total tourism gross value
    added.

    Bermuda residents spent $413 million on foreign


    travel.
    Bermuda residents spent an estimated $413 million
    on foreign travel in 2011, $4 million less than in
    2010. Expenditure on transportation services such
    as the cost of airline tickets, cruise fares and taxi
    services was the largest component of this category,
    amounting to $139 million, down 4 per cent from
    the previous year. All other categories of spending
    on food, accommodation and recreation services
    increased during 2011.

    Higher employment in the tourism industry.


    The tourism industry directly generated 4,199 jobs
    in 2011, an increase of 15 per cent (see Table 2).
    These jobs accounted for 11 per cent of the total
    work force. The industry was the third largest
    employer of Bermudian workers in the labour
    market following behind the Wholesale and Retail
    Trade sector and the Public Administration sector.
    Employment of Bermudian workers represented 72
    percent or 3,008 workers engaged in tourism
    industry employment. This compares favourably to
    the 2,567 Bermudian workers employed in the
    tourism industry in 2010.

    Government current expenditure on tourism


    totalled $30 million.
    The Bermuda Government spent $30 million in
    current expenditure to facilitate the operation of the
    tourism industry. Spending on tourism promotion,
    marketing and related professional services was 22
    per cent or $6 million lower than 2010. This
    expenditure accounted for 66 per cent of total
    government outlays on tourism in 2011. Among
    other
    tourism-related
    spending
    categories,
    expenditure on tourism related travel increased by
    19 per cent compared to last year.

    DEPARTMENT OF STATISTICS

    BERMUDA TOURISM SATELLITE ACCOUNT REPORT

    Table 1 : Tourism GDP 2010 and 2011


    Net Valuation
    2010 Total Domestic
    Supply (at
    Purchasers Price)

    2011 Total Domestic


    Supply (at
    Purchasers Price)

    Output

    Output

    Products
    A. Consumption Products
    A.1 Tourism characteristic Products
    1 - Accommodation Services
    2 - Food and Beverage Serving Services
    3 - Passenger Transport Services
    4 - Travel Agency, tour operator and Tourist Guide Services
    5 - Cultural Services
    6 - Recreation and Other Entertainment Services
    7 - Miscellaneous Tourism Services
    8 - Retail Trade (tourism characteristic goods)

    528,618,144
    528,618,144
    273,292,972
    99,460,443
    68,433,935
    31,482,509
    5,467,626
    13,769,405
    36,711,253

    548,576,846
    548,576,846
    272,935,237
    107,402,336
    78,681,399
    16,013,359
    7,249,342
    22,708,976
    43,586,198

    814,000

    Tourism social transfer in kind


    Total Direct Tourism Output
    Total Intermediate Consumption (at purchasers prices)
    Total Gross Value Added of Activities
    Compensation of Employees
    Other Taxes less Subsidies on Production
    Depreciation
    Gross Operating Surplus
    GDP
    Intermediate Consumption as a per cent of Output
    Memo:
    Total Bermuda GDP in current prices
    Tourism GDP as a per cent of Total Bermuda GDP

    2010 Top Sectors - GDP ($M)

    529,432,144

    548,576,846

    228,278,135
    301,154,008
    251,591,504
    7,372,238
    38,888,600
    3,301,666
    301,154,008
    76%

    231,684,111
    316,892,735
    252,570,543
    6,351,252
    30,399,649
    27,571,292
    316,892,735
    73%

    5,757,432,904
    5.2%

    5,557,128,030
    5.7%

    2011 Top Sectors - GDP ($M)

    International Business

    International Business

    Real Estate & Renting

    Real Estate & Renting

    Financial Intermediation

    Financial Intermediation

    Business Activities

    Business Activities

    Education, Health etc

    Education, Health etc

    Wholesale & Retail Trade

    Wholesale & Retail Trade

    Public Administration
    Tourism

    Public Administration

    $301M

    Transport & Communications

    Tourism

    Hotels & Restaurants

    Transport & Communications


    0

    300

    600

    900

    1,200

    1,500

    $317M

    DEPARTMENT OF STATISTICS

    300

    600

    900

    1,200

    1,500

    BERMUDA TOURISM SATELLITE ACCOUNT REPORT


    Table 2 : Employment directly related to Tourism, 2010 and 2011
    Bermudian Expatriate Total Number Bermudian Expatriate Total Number
    of Jobs 2010
    of Jobs 2011
    Hotels and Similar
    Second Home Ownership
    Restaurants and Similar
    Retail Trade

    1,417

    733

    153
    239
    222
    73
    116
    140
    42
    52
    44
    20
    19
    4
    25

    236
    58
    8
    3
    4
    9
    7
    9
    8
    3
    3
    1
    4

    2,567

    1,087

    Road Passenger Transport


    Water Passenger Transport
    Air Passenger Transport
    Travel agents and tour operators
    Department of Tourism
    Marine & Ports
    Airport Operations
    Transport Control Department
    Civil Aviation
    Maritime Administration
    Sport and Recreation
    Total Direct Tourism Employment
    Share of Economy

    2,150
    X
    389
    297

    1,596

    783

    204
    289

    49
    61
    52
    23
    22
    5
    30

    269
    126
    114
    134
    42
    91
    39
    22
    25
    6
    52

    269
    70
    9
    4
    6
    7
    7
    14
    6
    3
    4
    1
    8

    3,654

    3,008

    1,191

    230
    76
    120
    149

    278
    130
    120
    141
    49
    105
    45
    25
    29
    6
    60
    4,199

    10%

    11%

    2011 Top Sectors - Total Employment

    2011 Top Sectors - Bermudian Employment

    Wholesale & Retail Trade

    Wholesale & Retail Trade

    Public Administration

    Public Administration

    Tourism

    Tourism

    International Business

    Education, Health etc

    Business Activities

    Business Activities

    Education, Health etc

    International Business

    Financial Intermediation

    Financial Intermediation

    Construction

    Construction
    -

    2,379
    X
    472
    359

    1,000

    2,000

    3,000

    4,000

    5,000

    Number of jobs

    DEPARTMENT OF STATISTICS

    1,000

    2,000
    Number of jobs

    3,000

    4,000

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