Bahamas predicts decline in its tourism revenues

Bahamas State Minister for Finance, Zhivargo Laing, is predicting further decline in tourism revenues for the country.



Mr. Laing says the country’s tourism earnings declined by eight percent last year and is expected to worsen for this year.



In light of the economic downturn, the government had to provide unemployment benefits to hundreds of workers who loss their jobs.



Amidst this outlook Mr. Laing says the government does not expect that it will have to turn to international financial institutions such as the World Bank.



Tourism contributes around 60 per cent to the Bahamian economy and employees nearly half of the labour force.