By KEVA LIGHTBOURNE, Guardian Senior Reporter, kdl@nasguard.com

Despite a slow down in the United States economy, tourist arrivals to at least one of the Family Islands are reportedly on the upswing.

The arrivals on Abaco have increased by a whopping 20 percent, according to figures released by Prime Minister Hubert Ingraham who addressed the Abaco Chamber of Commerce on Friday.

Ingraham revealed that last year, the island welcomed some 110,738 stopover visitors. By the end of February this year, air and sea arrivals in Abaco were up by 20 percent over the same period last year - 39,207 visitors, compared to 32,686, he said.

A significant number of visitors to Abaco are repeaters; many are second home owners. Ingraham said with the expansion of time-share and fractional ownership products to the Abaco tourism inventory, the number of repeat visitors are likely to increase.

"This bodes well for employment and business," the nation's chief explained.

According to Ingraham, Bahamas Investment Authority statistics for the past year reflected approvals for the sale of real property in Abaco, among foreign sellers and purchasers, valued at more than $91 million including $3.5 million in inherited property.

Approvals granted for the sale of Bahamian-owned real estate to international persons during the same period had a value of some $34 million.

The Central Bank reported actual net investment flows to the Abaco economy of $107.86 million with capital transfers among non-resident investors of approximately $36.66 million, during the past 12-month period.

Ingraham explained that Abaco had over the years benefited from a fairly successful mix in its economy.

He said the island had become a major tourism destination in The Bahamas and one of the most popular destinations for yachtsmen the world over.

"You are the third most populous island and the third largest economy in The Bahamas after New Providence and Grand Bahama. The strength of your economy is transforming you into an economic and employment center. And so, just as Abaconians in earlier years sought economic opportunity on other islands of The Bahamas, today Bahamians from other islands are moving to Abaco," Ingraham told the group.