Island's tourist industry takes a $250m hit
Bermuda is losing nearly $250 million in visitor spending this year as a result of Covid-19.
The estimates made by the Bermuda Tourism Authority were revealed yesterday in a webinar on the industrys preparedness to restart, ahead of commercial flights resuming on Thursday.
Glenn Jones, the interim chief executive of the BTA, said 152 of Bermudas scheduled 193 cruise ship visits have been cancelled so far, translating into the loss of 437,000 passenger visits and $98.3 million in visitor spending. Lost air arrivals are estimated at 102,520 and total visitor spending lost for air and cruise arrivals is estimated at $248.9 million.
The BTA also estimated a $47.1 million loss to government revenue in the shape of $21.9 million loss of cruise passenger tax, $10.4 million in infrastructure tax and $5.1 million in hotel occupancy tax.
Covid-19s impact will also slash the BTAs funding by nearly $11 million, with a $7 million loss in the cruise passenger fee, a $3.8 million hit in the hotel guest fee and a $110,000 loss in the vacation rental fee.
The BTA said it had responded by cutting its budget by 36 per cent, through cuts in areas including advertising, sponsorship and employee pay, as well as cancelled events.
With LF Wade International Airport set to reopen with the resumption of Phase 4 from tomorrow, the webinar also gave the latest details on flight resumptions. Air Canada will be the first to fly in on ...
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