NASSAU — The Bahamas National Statistical Institute released advance GDP growth estimates for 2025 showing real GDP growth of 3.8%. The country’s economic output increased by $557.6 million, rising from $14.671 billion in 2024 to $15.229 billion, with nominal GDP growth at 7.1%.

Gowon Bowe, Fidelity Bank (Bahamas) chief executive, questioned whether the institute’s GDP estimates used consistent measurement methodologies compared to prior years. He noted that nominal and real GDP growth rates of 7.3% and 3.8% imply a 3.5% inflation rate in 2025. "No one’s saying we had inflation at 4 percent and, equally, to say we had nominal growth of 7 percent, that would be a phenomenal amount of jobs in terms of activity," Bowe said.

Bowe also questioned which sectors drove the growth, pointing out that major tourism properties like Sandals Exuma and Atlantis’ Beach Towers were closed for much of 2025. He noted stopover visitor numbers were flat or declining, with tourism growth limited to cruise passengers who did not increase spending. Bowe suggested previously unrecorded activity—such as operations at cruise industry private islands and construction projects—may explain the higher-than-expected growth.

Kwasi Thompson, MP for east Grand Bahama, acknowledged the economy grew but said many citizens are not benefiting. "Far too many Bahamians are still not feeling the benefits of this growth in their every day lives. Yes, the economy grew. But so did the pressure on families trying to afford groceries, electricity, rent and basic necessities," Thompson said. He added the report "shows warning signs beneath the surface," citing a decline in wholesale and retail trade and minimal growth in household spending.

Thompson stated that much of the 2025 GDP growth came from tourism, finance, and increased government spending, while sectors tied to ordinary consumers declined. He called for cost-of-living relief and support for small businesses in the next Budget.