The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The Bahamian electronic communications industry recovered from a five-year low in 2018 to grow its total revenues by three percent to $390m in 2019, sector regulators have revealed.

The Utilities Regulation and Competition Authority (URCA), in its 2019 annual report and draft plan for this year, said industry innovation will continue to drive economic growth and consumer satisfaction for years to come.

Pointing to the still-growing mobile market amid fierce competition involving the Bahamas Telecommunications Company (BTC) and Aliv, URCA said: “The total number of mobile voice subscribers in 2019 increased by 36,800 on the 2018 total (388,707), and explained the corresponding increase in the penetration rate from 100.47 in 2018 to 108.75 in 2019.

“Mobile data subscribers grew from 314,419 in 2018 to 362,3033 in 2019. The mobile data penetration rate also saw growth from 81.27 to 92.60.” There was less explosive growth in the broadband Internet market, where “the number of fixed broadband subscribers increased from 81,208 to 82,295. Consequently, the fixed broadband penetration rate also increased from 20.99 to 21.03 in 2019”.

The more mature segments of the electronic communications market, namely pay-TV and fixed-line voice services, both suffered a decline in 2019. “Cable Bahamas and BTC pay TV services are available to residential, business and on-the-go TV services through mobile cellular devices,” URCA added. “There are currently 66,188 Pay TV subscribers in The Bahamas, representing a 9 percent decrease on the 2018 figure of 72,460.

“It is assumed that as mobile services become more accessible and affordable, the demand for fixed telephone services will continue to decline. In 2019, fixed voice subscribers decreased to 91,129 versus 113,455 in 2018. Evidently, this result produced a decrease in the penetration rate from 29.33 in 2018 to 23.29 in 2019.”

URCA, though, had little doubt about the Bahamian electronic communications industry’s potential for future growth. “The electronic communications sector continues to revolutionise communication in The Bahamas and throughout the world,” it added.

“The rapidly evolving landscape of communication and technology continues to influence national and international commerce. Information communication technologies (ICTs) allow local businesses to effectively network and exchange products with global businesses while facilitating more efficient business exchanges throughout the country.

“Employees are no longer limited to working in one location, and interpersonal information sharing is more efficient with just a click of a button. With the further advancement of mobile technology such as fifth-generation (5G), upload and download speeds are expected to increase exponentially, creating new experiences for consumers, businesses and, ultimately, the entire economy.”