SAMOA TOURISM EARNINGS, REMITTANCES DROP
Tourism earnings and remittances, dubbed as the country’s “two major foreign exchange sources” declined in August this year. Whereas tourism revenues decreased by $5.6million compared to 2011, remittances declined by $3.2million compared to the same period last year.
The Central Bank of Samoa’s latest Tourism and Remittance report says the decline reflects“to some extent seasonal trends and the prevailing economic conditions in the main source markets.”
Here is the report in full:
Tourist Arrivals and Tourism Earnings
The number of international visitors in August 2012 declined 31 percent to 10,430 and was six percent lower then in August 2011.
Decreased arrivals were recorded for all the main source markets, with huge reductions for New Zealand, American Samoa, Australia and USA.
Lower arrivals were noticeable for those on ‘holiday’, ‘visiting friends and relatives’ and travellers arriving for ‘businesses and conferences’; the latter mainly due to a return to normal levels, after several major church conferences in July 2012.
The lower number of arrivals more than offset to a seasonal 16 percent increase in average spending per tourist, reducing total tourism revenues by 19 percent ($5.6 million) to $23.3 million in August 2012.
And, when compared to a year ago, tourism proceeds in the month under review were 4 percent lower on account of lower tourist arrivals contrary to higher averaged spending over the year.
Private remittances declined nine percent ($3.2million) to $33.8 million in August 2012, but were 6 percent higher than a year ago.