Bahamas Tourism and Real Estate Sectors Have Never Been Hotter
Things are heating up in The Bahamas, with Bahamas tourism numbers soaring and luxury real estate prices on the rise.
Bahamas.com recently reported on 2023 figures showing the island nation shattered tourism records, calling it “an extraordinary display of the strength of our country’s tourism sector.” The Bahamas Ministry of Tourism, Investments & Aviation said The Bahamas welcomed 9,654,838 visitors in 2023 — an astounding 38% increase compared to 2022 and 33% higher than the previous record, which was set in 2019.
In addition, foreign air arrivals increased 17% in 2023, totaling 1,719,980 visitors — a big jump from the 1,470,244 visitors by air in 2022.
Sea arrivals also jumped 43.5% year over year, adding up to 7,934,858 visitors in 2023.
“This record-breaking year is a clear indication of The Bahamas’ position as a top-tier destination for travelers seeking unparalleled experiences,” said The Honorable I. Chester Cooper, Deputy Prime Minister and Minister of Tourism, Investments & Aviation. “Our islands offer a unique blend of natural beauty, rich culture, and warm hospitality, making it a favorite of visitors from around the world.”
The increase seen in 2023 wasn’t completely unexpected, with all signs by the middle of the year pointing toward the possibility of Bahamas tourism breaking records. Still, the final numbers add up to an indisputable fact: Bahamas tourism has never been hotter.
Another Boom: Luxury Real Estate in The Bahamas
Bahamas tourism keeps heating up, but it’s not the only sector on the rise in this unique, beautiful country.
According to a new Douglas Elliman and Knight Frank Wealth Report cited by CNBC, the top 100 luxury real estate markets in the world saw a 3% price increase in 2023 — but in The Bahamas, the price growth for the year was 16%, making it the third best-performing luxury real estate market in the world.
The report said about one-quarter of ultra-high-net-worth individuals in America plan to buy a home in 2024. The ultrawealthy especially prioritize lifestyle and investment when considering a purchase, followed by taxes and safety.
The country’s real estate market has been on a hot streak for years now, including being named a top choice for people who earn a living working online where they want instead of from a specific office or location. Last year, an article in The Travel explored the variety of reasons why “digital nomads” should consider moving to The Bahamas — and it’s not just about the weather and picturesque water views.
The Bahamas has a unique digital nomad visa (Bahamas Extended Access Travel Stay, or BEATS), which gives enrolled students and online workers who want to study or work remotely a chance to come to the country for the low primary applicant fee of $1,000, and $500 each for accompanying dependents.
The favorable tax structure of the nation is also appealing, with no income or capital gains taxes, meaning residents simply need to cover VAT for goods and services.
Book Your Slip at Hurricane Hole Superyacht Marina and Fall in Love with The Bahamas
Whether you’re planning a temporary trip to The Bahamas, a top nation for travelers and visitors from all across the world, or you’re ready to make this beautiful country your home, Hurricane Hole Superyacht Marina is the right choice for your yachts and superyachts.
With a wide range of slip rental options, not to mention cutting-edge amenities like in-slip fueling, 24/7 security, and easy access to medical facilities, stores, restaurants, and so much more, there are more reasons than ever why Hurricane Hole Superyacht Marina is truly the best marina in The Bahamas.
Make us your home port in the best country in the world. Contact our team online or call 242-603-1950 today, and get ready for a luxury marina that will meet and exceed all of your expectations.