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Cruise lines set to invest $500m in Bahamas

The Bahamas is set to receive a $500 million investment, according to the Minister of Tourism. The investment will be laid out over two years, with cruise lines providing a majority of the funds. Read an excerpt from popular cruise industry blog Cruise Hive here.

Cruise Hive
Wednesday, May 4, 2016
Wednesday, May 4, 2016
Joel Lahera

ALT TAG HERE(Cruise Hive) – The Bahamas has big plans. The cruise industry is making moves in the Caribbean. Is this competition or opportunity? With the current events unfolding how will it all play out.

The Bahamas is set to receive a $500 million investment. The Minister of Tourism broke the news. The investment will be laid out over a two-year plan. The cruise lines providing a majority of the funds are MSC and Carnival Corp. MSC plans to spend $100-$200 million on the private cay island project. While Carnival is planning a port on east Grand Bahama.

The Minister of Tourism Obie Wilchombie, released statements on proposed plans.

Obie Wilchombie Minister of Tourism [Tribune]:

“We have major players such as Carnival, Royal Caribbean, Disney and Mediterranean (MSC) all now in the middle of completing major negotiations for further development that would mean hundreds of millions of dollars being invested in the Bahamas; in fact, well over half a billion dollars of investment over the next year or two.”

This is an excerpt from Cruise Hive as it appeared on May 5, 2016. For updates or to read the current version of this post in its entirety, please click here.

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The International Forum for Investor Education, Americas Chapter, held the first meeting of its working group for content development and delivery in The Bahamas recently.

Cheryl Grant-Bethel was sworn-in as Justice of the Supreme Court and Joyann Ferguson-Pratt was sworn-in as Acting Justice of the Supreme Court by Governor-General Dame Marguerite Pindling earlier this week.

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