Bermuda Tourism Industry

After the International Business, Tourism is the second most important pillar in Bermuda's economy. This small island has developed itself as a magnet for tourism. Close to 30% of Bermuda's GDP comes from the tourism industry. 
Currently well over 650,000 people visit Bermuda annually. Out of the total number of visitors, close to 85% are from the USA. Rest are mostly from UK, Canada and few other countries. However, majority of the US leisure tourists come by cruises (over 350,000). This is because they get all inclusive packages including cabins and all meals in the cruise ships and at a very competitive prices.  
Where as the air passengers need to spend on hotels and restaurants. The cruise ships also offer a lot of on board entertainment and activities even while it is docked which serves as additional incentives to the cruise passengers. 
Update February 2015 
In 2014, the total visitor arrivals in Bermuda remained more or less flat compared to 2013 with an overall growth of only 0.8%. The total arrivals in 2014 were 584,702 out of which air arrivals 224,329 (down by 5.1%), cruise arrivals 356,093 (up by 4.7%), yacht arrivals 4,280 (up by 24.6%). Since the air arrivals declined, so did the per visitor spending in the island and on top of it the visitors who came by air also spent lesser this year. A total of $280.2 million was spent in the island by air passengers which resulted in an year-to-year decline of 11.3%. The government attributes this to the transition of Tourism Department which newly created Bermuda Tourism Authority - an autonomous body which will work towards the growth of tourism industry by executing comprehensive and contemporary strategy like working closely with the media &átravel companies, and introducing experiential tourism. 
Update April 2014 
Total number of visitors to Bermuda in 2013 were 579,808 which is a decline by 5.75% compared to 2012. In 2013, the air arrivals were 236,343 (up 1.84%), cruise arrivals were 340,030 (down 10.11%) and yacht arrivals were 3,435 (down 29.12%). Overall it was a negative tourism trend in the island. 
Update April 2013 
The total number of visitors to Bermuda in the year 2012 declined by 6% compared to the previous year. In 2012 a total of 615,171 visitors arrived in Bermuda compared to 655,236 in 2011. However not all visitors come here on vacations. Bermuda Tourism Industry's main focus and spend has been towards the leisure visitors (i.e. tourists) who comprise of 65% of the total visitors. The good news is that the number of leisure visitors in 2012 actually increased by over 4% compared to previous year. 232,063 visitors came to Bermuda by air in 2012 which is less by 2% compared to 2011. The number of cruise passengers in 2012 was 378,262 which is 9% less compared to 2011. However the room occupancy rates in large hotels remained more or less the same, and dipped only fractionally from 56.3% in 2011 to 55.7% in 2012. 
Update April 2010 
Tourism in Bermuda has shown some declining trends, mostly compounded by the global recession. A little over 550,000 tourists arrived in 2009, a decline of over 100,000 visitors compared to 2007. Hotel occupancy rates have also decreased in 2009 to close to 51%, down from 59% in 2008. Visit Bermuda Hotel Occupancy Rate in 2009/2010 for more updates. Visitors contributed an estimated $330 million to the economy of Bermuda in 2009, down from $402 million in 2008. 
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