Key Market Indicators
Bermuda's tourism sector is poised for growth, with tourist arrivals projected to rise to approximately 939,000 by 2028, up from about 856,000 in 2023. This represents an average annual growth rate of 1.5%. Historical data indicates that since 2000, demand for tourism in Bermuda has increased by an average of 2.3% per year. However, despite the anticipated increase in tourist numbers, Bermuda's tourism receipts are expected to decline. Projections show that tourism revenue will drop to around $264 million by 2028, down from approximately $309 million in 2023, marking an average annual decrease of 2.5%. Since 2011, the Bermudian tourism market has seen a yearly decline of 1.5% in revenue.
