With moderation in growth of the tourism sector due to the global economic slowdown, GDP grew by 3.4% in 2012 as compared with 7% in 2011. Higher growth in 2011 was underpinned by strong growth in the tourism sector and related sectors, such as transportation, construction and communications. However, GDP growth improved to 4.5% in 2012 from 3.8% in 2011.