This Selected Issues paper for The Bahamas reports that the largest portion of tourism expenditure in The Bahamas comes from stayover visitors, and total tourism spending has been stagnant. The Bahamas is a small open economy highly dependent on tourism and the offshore financial sector. Private consumption expenditure in the country or countries of origin is the most important determinant of tourism in The Bahamas.
where lower-case variables are the logarithmic version of the variables expressed in upper case in equation (1), dx t is the first difference of the variable x t and n is the number of dummy variables. 8 The paper uses the equation described above to study the determinants of both stayover arrivals and stayoverexpenditure.
9. The regression results indicate that private consumption expenditure in the country or countries of origin is the most
stemming from work from home circumstances . Tourism-related stayoverexpenditure surveys applied by the Tourism Board of Saint Lucia were not possible because of the inability to conduct in-person interviews. The response rate to balance of payments surveys was lower than 50 percent and around 30 percent for the hotels sector. Even though the CSO processes the data received through surveys, the CSO does not make estimations for missing data or low response rate. For that reason, the ECCB must make those estimations as part of their revision process. To avoid delaying
A remote technical assistance (TA) mission on external sector statistics (ESS) was conducted for the Central Statistical Office (CSO) of Saint Lucia during March 22–26, 2021. The mission was part of the Caribbean Regional Technical Assistance Centre (CARTAC) work program on External Sector Statistics (ESS).