The Tribune

By FAY SIMMONS

TRIBUNE Business Reporter

jsimmons@tribunemedia.net

THE CENTRAL Bank’s Governor yesterday asserted The Bahamas could generate greater economic value from its existing tourism industry by getting more local businesses involved in supplying the activities and services visitors purchase.

John Rolle said increasing Bahamian participation in the tourism sector could boost the country's measured economic output even without an increase in visitor arrivals by allowing more of the money already being spent by tourists to remain within the domestic economy.

He said The Bahamas’ ability to retain more value from tourism depends not only on attracting additional visitors, but also on increasing the extent to which Bahamian businesses and individuals supply the goods, services and experiences being purchased.

"To some extent, increasing local participation works in your country's advantage because the way we look at the value of our economy is the sum of everything that we are currently earning, and we subtract from that the amount that you have to pay to others who are providing inputs," said Mr Rolle.

He explained that when more of the inputs used in producing goods and services are supplied from The Bahamas rather than imported, a greater share of economic value is retained in the country.

"The mere fact that you're able to have locals be providing more of the input means that you could see a boost in what you're measuring as GDP," he said.

Mr Rolle identified tourism as a particularly important area for expanding Bahamian participation because of the range of recreational, cultural and entertainment experiences visitors can potentially purchase outside traditional hotel and cruise offerings.

He added that opportunities existed for Bahamian businesses to become more involved in activities taking place on the water, underwater, within the natural environment and through local arts and entertainment.

"One of the areas where the emphasis in terms of increasing local participation is incredibly important is in tourism because it is a recreational activity," Mr Rolle said.

He argued that strengthening linkages between tourism and locally-owned businesses did not necessarily require an increase in visitor numbers, but rather a greater ability for Bahamians to supply the experiences and services tourists were already spending money on.

"When we talk about increasing the linkages to the tourism sector, it's recognising that the money is already being spent," said Mr Rolle. "So you just need to be able to substitute more of what is being spent on as being supplied by locals."

He said increasing the involvement of Bahamians in recreational activities, cultural experiences and other visitor offerings could improve the amount of economic activity retained domestically, separate from any additional growth in hotel or cruise arrivals.

Mr Rolle's comments came as the Central Bank reported stronger tourism performance during the first nine months of 2026, with stopover earnings growing at a faster pace than in 2025.

The Central Bank said the improvement was supported by rebounding visitor volumes, increased hotel occupancy levels and higher room rates, while the vacation rental market also recorded expanded sales and increased pricing alongside a larger inventory of available listings.

Cruise activity also continued to expand at a healthy pace, supported by ongoing investment in private cruise destinations.

Mr Rolle said increasing Bahamian participation will allow The Bahamas to derive greater economic benefit from that existing visitor spending, while strengthening the domestic economy's contribution to the tourism industry.