Tourist arrivals to the Caribbean region including The Bahamas increased by a solid 9.7 per cent during the first half of 2019, when compared to the same period last year, the Caribbean Tourism Organization (CTO) has revealed.

Addressing the media at a news conference at World Travel Market yesterday, CTO chairman Dominic Fedee said this performance was more than double the global average of 4.4 per cent.

Between January and June this year, there were 17.1 million tourist trips to the Caribbean region, 1.5 million more than the corresponding period in 2018.

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During the 60th annual Fort Lauderdale International Boat Show, held October 30-November 3, the Ministry of Tourism and Aviation presented yacht charter operators, brokers and owners with a multitude of options for visiting the islands of The Bahamas.

Dubbed the “greatest boat show on the seven seas”, the Ft. Lauderdale International Boat Show attracts approximately 110,000 attendees and 1,200 exhibitors representing 52 countries.

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Domestic economic developments for the month of September were dominated by the passage of Hurricane Dorian, which resulted in a falloff in tourism relative to an average monthly strengthening during the first eight months, according to The Central Bank of The Bahamas‘ monthly economic review.

Nonetheless, positive impulses to construction output from foreign direct investment projects were sustained, with contributions from the domestic sector likely to increase as post-hurricane rebuilding efforts intensify.

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As part of the The Caribbean Tourism Organization (CTO), The Bahamas is attending the World Travel Market in London this week.

During an interview on the sidelines of the event, director general of tourism Joy Jibrilu reiterated that most of The Bahamas was open for business despite the destruction caused by Hurricane Dorian.

She said that while Abaco and Grand Bahama were still recovering, the 14 other islands were unaffected and ready to welcome tourists.

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HOUSTON, November 2019 (GLOBE NEWSWIRE) — IFM Investors Pty Ltd (“IFM”) and Buckeye Partners, L.P. (“Buckeye”) today announced the completion of the acquisition of Buckeye by entities affiliated with IFM, adding one of the largest diversified networks of integrated midstream assets to IFM’s substantial investments in energy infrastructure across North America.

Buckeye’s assets include 6,000 miles of pipeline, with over 100 delivery locations and 115 liquid petroleum products terminals with aggregate tank capacity of over 118 million barrels, and a network of marine terminals located primarily in the East and Gulf Coast regions of the United States, as well as in the Caribbean.

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Society of Trust and Estate Practitioners (STEP) Bahamas Branch members paid a courtesy call on Minister of Financial Services, Trade & Industry and Immigration Elsworth Johnson at the Ministry October 31, 2019.

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The Caribbean Tourism Organization (CTO) has said that festivals are key element in the region’s tourism offering as it celebrates Caribbean Tourism Month.

In a statement the CTO said: “As we continue to observe 2019 as the Caribbean Year of Festivals, we celebrate both the unique distinctions of our region and the many features that bind us together. The unique rhythm and tempo of each CTO destination is reflected best in the music, art, sailing, lights, food, rum, religious, literary, dance and the many other festivals celebrated throughout the region. Unquestionably, there is a festival to commemorate each element of the cultures and heritages which personify the region.”

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Pictured: The Bahamas Pavilion, designed by The team from the University of The Bahamas. (Bahamas’ Ambassador to the UAE and the State of Qatar/Tony Joudi)

The Bahamas’ financial services sector hopes to make inroads into the Middle Eastern market with a series of events this month – all of which will lay the groundwork for the country’s presence at the Dubai Expo 2020.

The Bahamas Financial Services Board (BFSB) will host a Bahamas Landfall event in Dubai on 18 November, in addition to sponsoring STEP Arabia, as stakeholders assess interest in this new market.

“It is a promotional tour to size up the potential appetite and interest that those players have in The Bahamas,” says Patrick Feuz, executive chairman of Gonet Bank & Trust Ltd which will be attending the events. “It will be a crucial to see what the outcome is from this tour. That will lay the foundation for what the BFSB and the Ministry of Financial Services want to do in Dubai.”

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Prime Minister Dr Hubert Minnis accepted a $100,000 donation from telecommunications firm Aliv to help fund The Bahamas’ participation in Dubai Expo 2020, during a check presentation at the Office of the Prime Minister October 28.

The funds will go toward the development of The Bahamas Pavilion that will showcase the resilience of The Bahamas in the wake of Hurricane Dorian and what the country has to offer to the global community, including investment opportunities, skills and culture.

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The fiscal deficit continued to improve during the first quarter (Q1) of the fiscal year, based on preliminary estimates in the latest budget performance report. The government has plans to revise its fiscal estimates moving forward following Hurricane Dorian.

“It is important that we saw a strong performance in the first quarter notwithstanding the impact of Hurricane Dorian. The added strain we are now under due to these extraordinary circumstances would be exponentially worse if we had not taken deliberate action to get our fiscal house in order and responsibly manage the country’s fiscal affairs,” said Peter Turnquest, Deputy Prime Minister and Minister of Finance.

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