This is an excerpt from Tourism Today as it appeared on January 13, 2012. For updates or to read the current version of this post in its entirety, please click here.

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The tourism sector is performing well and is expected to grow this year, according to Minister of Tourism and Aviation Vincent Vanderpool-Wallace. He also commented, however, that there was still room for improvement in the industry.

At the 21st annual Bahamas Business Outlook conference, held at the Wyndham Nassau resort yesterday, Minister Vanderpool-Wallace told attendees that the tourism sector performed well in 2011, with over 3 million cruise ship passengers visiting the country. The Bahamas also recorded the highest daily spend per visitor in the region.

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“Never let a crisis go to waste.”

That was the message from Minister of State for Finance Zhivargo Laing as he spoke at the 21st annual Bahamas Business Outlook, held at the Wyndham Nassau resort yesterday.

The minister was referring to the worldwide global financial crisis which, he says, The Bahamas weathered well thanks to considerable economic momentum going into the recession. Bolstered by construction projects such as the Baha Mar mega resort and the Albany development, Minister Laing said that the economy was recovering well and that the recession had given government the chance to develop long-term strategies for growth.

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Service for opening of legal year (BIS Photo/Patrick Hanna)

Members of the Royal Bahamas Police Force Band (BIS Photo/Letisha Henderson)

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The latest Quarterly Economic Review from The Central Bank of The Bahamas, released at the end of last month, suggests that the jurisdiction showed continued mild economic recovery, with muted growth during the three-month period up to and including September 2011.

“Despite signs of weakness in the global economy, indications are that the Bahamian economy maintained a
positive—although mild—growth momentum during the third quarter,” the report states.

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Members of the Bahamas Hotel Association (BHA) reaffirmed their commitment to last year’s leadership by re-electing the 2011 team for another year. The election was held last month at the organization’s 59th Annual General Meeting, which was followed by a luncheon, where the Prime Minister offered the keynote address.

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We meet today to make an announcement about the terms upon which members of the public service may purchase shares and become owners in the Arawak Port Development Company (ADP).

The terms I shall outline have never before been offered to public servants; we expect that this announcement today is the first of several.

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Chief Justice Sir Michael Barnett has announced that Justice Indra Charles was sworn in as a Justice of the Supreme Court by Governor-General Sir Arthur Foulkes at Government House on January 6, 2012.

Justice Charles served as a Justice of the High Court of the Eastern Caribbean Supreme Court since January, 2000. She served as a resident Justice in the British Virgin Islands from January 1, 2005, until her retirement from that court in December 2011.

Governor-General Sir Arthur Foulkes (right) swears in Justice Indira Charles as Justice of the Supreme Court of The Bahamas on January 6 at Government House. (BIS Photo/ Derek Smith)

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AML Foods Ltd has announced that it has entered into a definitive development agreement with CKE Restaurants Inc to bring the Carl’s Jr. franchise to The Bahamas.

Under the agreement the company will develop a number of restaurants over the next five years, the first of which is expected to open later this year.

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As posted on The Bahamas Investor’s Facebook page and Twitter, Kerzner International has announced that Sir Sol Kerzner has stepped down as chief executive officer, but will remain as chairman.

Alan Liebman, who joined the company in 1992, has assumed the post.

Liebman was chief operating officer at the Atlantis Paradise Island resort in The Bahamas, before becoming regional president of Europe, Africa and the Middle East.

“Over the last 17 years Alan has contributed extensively to Kerzner’s success, and his vast experience in this industry makes him an ideal chief executive to lead Kerzner into the future,” Sir Sol said last week.

“Alan has a great deal of passion and commitment to both our employees and our guests. As chief executive, Alan will lead the executive management team and will be actively engaged in all aspects of the business. I firmly believe this new organisational structure and focus will best ensure the future success and growth of Kerzner International.”

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