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Construction and tourism sectors show growth

The construction industry in The Bahamas is continuing to reap the benefits of Foreign Direct Investment (FDI), while tourism is seeing slow but steady growth according to the Central Bank of The Bahamas which released its monthly economic report for June yesterday. 

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TheBahamasInvestor.com
Friday, July 26, 2013
Friday, July 26, 2013

The construction industry in The Bahamas is continuing to reap the benefits of Foreign Direct Investment (FDI), while tourism is seeing slow but steady growth according to the Central Bank of The Bahamas which released its monthly economic report for June yesterday.

In its Monthly Economic and Financial Developments bulletin, the Central Bank of the Bahamas noted that ongoing FDI projects, such as the Cable Beach mega-resort Baha Mar, as well as public infrastructure programmes were supporting the domestic construction sector.

And according to the Central Bank, tourist arrivals for the first four months of the year grew by 2.7 per cent to 2.3 million visitors. Visitors to New Providence increased by 9.6 per cent to 1.3 million, with the majority of these coming by sea.

clearTo read the full report, download it here.

Senior Communications Manager at the Bahamas Tourism Office in Plantation, Florida, Anita Johnson Patty says the Resorts World International SuperFast ferry to Bimini has created "so much buzz" in the Florida tourism market and she expects the twice daily cruise between Miami and Bimini to transform the Family Island. Watch a clip of the interview here.

The Bahamas has signed a Co-operation Memorandum on pre-clearance security with the United States, to facilitate easier travel between the two countries. Pictured: Minister of Foreign Affairs Fred Mitchell and deputy assistant administrator for the Transportation Security Administration's Office of Global Strategies Victoria Reeder sign the Co-operation Memorandum at the Ministry of Foreign Affairs. Pictured to the left of Minister Mitchell is Minister of Transport and Aviation Glenys Hanna-Martin. (BIS Photo/Kristaan Ingraham)

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