Bahamas, The | International tourism, expenditures (% of total imports)
International tourism expenditures are expenditures of international outbound visitors in other countries, including payments to foreign carriers for international transport. These expenditures may include those by residents traveling abroad as same-day visitors, except in cases where these are important enough to justify separate classification. For some countries they do not include expenditures for passenger transport items. Their share in imports is calculated as a ratio to imports of goods and services, which comprise all transactions between residents of a country and the rest of the world involving a change of ownership from nonresidents to residents of general merchandise, goods sent for processing and repairs, nonmonetary gold, and services. Development relevance: Tourism is officially recognized as a directly measurable activity, enabling more accurate analysis and more effective policy. Whereas previously the sector relied mostly on approximations from related areas of measurement (e.g. Balance of Payments statistics), tourism today possesses a range of instruments to track its productive activities and the activities of the consumers that drive them: visitors (both tourists and excursionists). An increasing number of countries have opened up and invested in tourism development, making tourism a key driver of socio-economic progress through export revenues, the creation of jobs and enterprises, and infrastructure development. As an internationally traded service, inbound tourism has become one of the world's major trade categories. For many developing countries it is one of the main sources of foreign exchange income and a major component of exports, creating much needed employment and development opportunities. This measure reflects the importance of tourism as an internationally traded service relative to other categories of imports. Such a measure reveals the predilection for tourism in a country's import structure and the relative degree of an economy's domestic revenue outflows due to international tourism. Limitations and exceptions: Tourism can be either domestic or international. The data refers to international tourism, where the traveler's country of residence differs from the visiting country. International tourism consists of inbound (arrival) and outbound (departures) tourism. The data are from the World Tourism Organization (WTO), a United Nations agency. The data on inbound and outbound tourists refer to the number of arrivals and departures, not to the number of people traveling. Expenditure associated with the activity of international visitors has been traditionally identified with the travel item of the Balance of Payments (BOP). The 2008 International Recommendations for Tourism Statistics consider that "tourism industries and products" includes transport of passengers. Consequently, a better estimate of tourism-related expenditure by inbound and outbound visitors in an international scenario would be, in terms of the BOP, the value of the travel item plus that of the passenger transport item. Nevertheless, users should be aware that BOP estimates include, in addition to expenditures associated to visitors, those related to other types of travelers (these might be substantial in some countries; for instance, long-term students or patients, border and seasonal workers, etc.). Also data on expenditure by main purpose of the trip are BOP data. Statistical concept and methodology: Outbound tourism expenditures may include those by residents traveling abroad as same-day visitors, except when these are important enough to justify separate classification. For some countries they do not include expenditures for passenger transport items. Their share in imports is calculated as a ratio to imports of goods and services (all transactions between residents of a country and the rest of the world involving a change of ownership from nonresidents to residents of general merchandise, goods sent for processing and repairs, nonmonetary gold, and services). International tourism expenditures' share in imports is calculated as a ratio to imports of goods and services, which comprise all transactions between residents of a country and the rest of the world involving a change of ownership from nonresidents to residents of general merchandise, goods sent for processing and repairs, nonmonetary gold, and services. Statistical information on tourism is based mainly on data on arrivals and overnight stays along with balance of payments information. These data do not completely capture the economic phenomenon of tourism or provide the information needed for effective public policies and efficient business operations. Data are needed on the scale and significance of tourism. Information on the role of tourism in national economies is particularly deficient. Although the World Tourism Organization reports progress in harmonizing definitions and measurement, differences in national practices still prevent full comparability. The World Tourism Organization is improving its coverage of tourism expenditure data, using balance of payments data from the International Monetary Fund (IMF) supplemented by data from individual countries. These data include travel and passenger transport items as defined in the IMF's Balance of Payments. When the IMF does not report data on passenger transport items, expenditure data for travel items are shown. The aggregates are calculated using the World Bank's weighted aggregation methodology and differ from the World Tourism Organization's aggregates.
Publisher
The World Bank
Origin
Commonwealth of The Bahamas
Records
63
Source
Bahamas, The | International tourism, expenditures (% of total imports)
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
13.4202027 1995
13.92771565 1996
13.79801487 1997
11.36363636 1998
11.87375517 1999
11.56614974 2000
12.31367466 2001
12.22342645 2002
14.17056591 2003
14.94525385 2004
14.41110524 2005
12.35901923 2006
11.85933106 2007
9.99577792 2008
10.34337874 2009
9.78106063 2010
8.14922619 2011
7.79992224 2012
7.55077164 2013
6.46679718 2014
8.19963856 2015
9.84966144 2016
11.25680759 2017
10.14404269 2018
10.62067824 2019
4.86689192 2020
2021
2022
Bahamas, The | International tourism, expenditures (% of total imports)
International tourism expenditures are expenditures of international outbound visitors in other countries, including payments to foreign carriers for international transport. These expenditures may include those by residents traveling abroad as same-day visitors, except in cases where these are important enough to justify separate classification. For some countries they do not include expenditures for passenger transport items. Their share in imports is calculated as a ratio to imports of goods and services, which comprise all transactions between residents of a country and the rest of the world involving a change of ownership from nonresidents to residents of general merchandise, goods sent for processing and repairs, nonmonetary gold, and services. Development relevance: Tourism is officially recognized as a directly measurable activity, enabling more accurate analysis and more effective policy. Whereas previously the sector relied mostly on approximations from related areas of measurement (e.g. Balance of Payments statistics), tourism today possesses a range of instruments to track its productive activities and the activities of the consumers that drive them: visitors (both tourists and excursionists). An increasing number of countries have opened up and invested in tourism development, making tourism a key driver of socio-economic progress through export revenues, the creation of jobs and enterprises, and infrastructure development. As an internationally traded service, inbound tourism has become one of the world's major trade categories. For many developing countries it is one of the main sources of foreign exchange income and a major component of exports, creating much needed employment and development opportunities. This measure reflects the importance of tourism as an internationally traded service relative to other categories of imports. Such a measure reveals the predilection for tourism in a country's import structure and the relative degree of an economy's domestic revenue outflows due to international tourism. Limitations and exceptions: Tourism can be either domestic or international. The data refers to international tourism, where the traveler's country of residence differs from the visiting country. International tourism consists of inbound (arrival) and outbound (departures) tourism. The data are from the World Tourism Organization (WTO), a United Nations agency. The data on inbound and outbound tourists refer to the number of arrivals and departures, not to the number of people traveling. Expenditure associated with the activity of international visitors has been traditionally identified with the travel item of the Balance of Payments (BOP). The 2008 International Recommendations for Tourism Statistics consider that "tourism industries and products" includes transport of passengers. Consequently, a better estimate of tourism-related expenditure by inbound and outbound visitors in an international scenario would be, in terms of the BOP, the value of the travel item plus that of the passenger transport item. Nevertheless, users should be aware that BOP estimates include, in addition to expenditures associated to visitors, those related to other types of travelers (these might be substantial in some countries; for instance, long-term students or patients, border and seasonal workers, etc.). Also data on expenditure by main purpose of the trip are BOP data. Statistical concept and methodology: Outbound tourism expenditures may include those by residents traveling abroad as same-day visitors, except when these are important enough to justify separate classification. For some countries they do not include expenditures for passenger transport items. Their share in imports is calculated as a ratio to imports of goods and services (all transactions between residents of a country and the rest of the world involving a change of ownership from nonresidents to residents of general merchandise, goods sent for processing and repairs, nonmonetary gold, and services). International tourism expenditures' share in imports is calculated as a ratio to imports of goods and services, which comprise all transactions between residents of a country and the rest of the world involving a change of ownership from nonresidents to residents of general merchandise, goods sent for processing and repairs, nonmonetary gold, and services. Statistical information on tourism is based mainly on data on arrivals and overnight stays along with balance of payments information. These data do not completely capture the economic phenomenon of tourism or provide the information needed for effective public policies and efficient business operations. Data are needed on the scale and significance of tourism. Information on the role of tourism in national economies is particularly deficient. Although the World Tourism Organization reports progress in harmonizing definitions and measurement, differences in national practices still prevent full comparability. The World Tourism Organization is improving its coverage of tourism expenditure data, using balance of payments data from the International Monetary Fund (IMF) supplemented by data from individual countries. These data include travel and passenger transport items as defined in the IMF's Balance of Payments. When the IMF does not report data on passenger transport items, expenditure data for travel items are shown. The aggregates are calculated using the World Bank's weighted aggregation methodology and differ from the World Tourism Organization's aggregates.
Publisher
The World Bank
Origin
Commonwealth of The Bahamas
Records
63
Source