FOR IMMEDIATE RELEASE
Hon. Michael Pintard , M.P. : Government’s Tourism Revenue Claims Off by Nearly $1 Billion
The Free National Movement (FNM) is again calling attention to the Davis Administration’s troubling record of inflating numbers and misleading the Bahamian people, this time regarding tourism revenue.
Just last week, Deputy Prime Minister Chester Cooper claimed The Bahamas had broken tourism records for three consecutive years and suggested that 2025 should be another record-setting year.
But that language—hopeful, vague, and noncommittal—should immediately raise red flags.
Because, while the Davis Administration is busy celebrating headline visitor arrival numbers, the International Monetary Fund has delivered a sobering reality check that these so-called record arrival numbers are NOT translating into spending on the ground.
The FNM has constantly warned Chester Cooper, the Minister of Tourism, to stop beating his chest and pounding his fist about these record arrival numbers because Bahamians are simply not feeling the effects of any increased spend.
According to the Government’s very own numbers, GDP is only expected to grow by a very unsatisfactory 1.7% this year, which seems pathetically low given all the millions of additional new visitors that the Minister of Tourism claims are coming to The Bahamas.
The IMF is now shedding some light on why we are NOT feeling or seeing any increased GDP impact from our tourism sector.
According to them, the country’s reported tourism revenue may be overstated by as much as $923 million, a massive shortfall equivalent to 6.5 percent of national GDP. This is not a minor discrepancy of a few dollars. It is nearly $1 billion in earnings that the government claims we are earning from tourism that may not actually be there.
The revenue we supposedly earned from tourism impacts the entire economic picture. By touting hugely overstated tourism revenues, the government is misrepresenting our balance of payments and creating a false sense of fiscal strength. At a time when our economy faces serious structural challenges, we cannot afford fiction dressed up as fact.
The IMF’s report warns that the Ministry of Tourism continues to rely on outdated surveys and flawed assumptions to estimate visitor spending. In fact, newer ministry data already shows earnings well below what the government reports. “Estimates for travel credits may be concealing shortfalls in other parts of the balance of payments,” the IMF wrote, pointing to a deeper problem: our economic vulnerabilities are being hidden, not measured.
And tourism isn’t the only area of concern. Offshore financial flows, which impact our balance sheets and economic indicators, are not being accurately recorded. In 2023, countries like Luxembourg and Singapore reported more than $90 billion in investments linked to The Bahamas, yet Bahamian officials could explain only a small portion of those inflows. That level of discrepancy paints a distorted picture of our economy, undermining public trust and international confidence.
From yachting to air arrivals, every inflated claim from the PLP must now be viewed with skepticism. Marina operators, charter companies, and business owners have reported steep declines in activity and spending. So, when the DPM says “we’ve broken records,” the Bahamian people must ask: By whose numbers? Based on what data?
The Free National Movement has long called for reform. A Pintard-led Administration will overhaul how tourism is measured and reported, starting with modernizing the tourism expenditure survey and implementing transparent, verifiable data systems.
In addition, a Pintard-led Administration will develop a strategic plan to improve growth in stopover visitors, who spend 20 times more than cruise passengers. We will also seek a much fairer share of the revenues being earned from this sector for Bahamians.