Improved tourism and a better economic outlook in the Bahamas is creating conditions where property prices are expected to rise and the number of transactions grow, it is claimed.

Although there are no official house price figures, values are estimated by local agents to have dropped by 30% to 40% from 2007 to 2010 and but they are now starting to recover and sales volumes are picking up, according to Luke Smith, managing director of Crystal Investment and Real Estate.

He pointed out that the Bahamas is expecting double digit growth in visitor arrivals for 2014 and with a mature tourism infrastructure supporting approximately 1.5 million stopover visitors and 3.5 million cruise visitors per annum along with a progressive service industry, tourism has become the largest driver of the economic activity in the Bahamas.

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VANCOUVER, Dec. 4, 2013 /CNW/ – Continuing on recent trends, Smartcool Systems Inc. (TSX-V: SSC) is expanding its ECO3 energy efficiency product distribution network across the Caribbean. Building outwards from its sales and technical hub in South Florida, Smartcool has signed new distribution agreements with local partners in The Bahamas, Jamaica, the Dominican Republic and Puerto Rico. This is in addition to ongoing activity elsewhere in theCaribbean basin including Guyana, Barbados, Mexico and Central America.

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With international business and cross-border transactions increasing dramatically, Halsbury Chambers partner Nerissa Greene (left) says that it is critical for Bahamians practicing law to keep pace with legal precedence, trends and changes in other jurisdictions.

Fresh from attending the International Lawyers Network (ILN) 2013 conference in Miami, Greene says that issues of taxation, employment, energy and natural resources have such global repercussions today that attorneys who practice in The Bahamas need to keep abreast of evolving trends.

“It is no longer a luxury to remain abreast of changing judicial precedent, practices and procedures in other parts of the world, it is essential,” says Greene, who specializes in real estate, conveyancing, family law, and civil and corporate law.

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Cable & Wireless Communications (CWC) has updated the brand identity of its Bahamas business. The refreshed brand of Bahamas Telecommunications Company (BTC) seeks to create a new identity for the business and more strongly emphasizes BTC’s customer-focused approach.

The launch of a new interactive web site is central to the brand update. The revamped web site includes improved navigation and interactive features. An expanded BTC customer support database includes videos, articles and frequently asked questions, but also enables web site visitors to leave their own tips.

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NASSAU, Bahamas, Dec. 2, 2013 (GLOBE NEWSWIRE) — Ultrapetrol (Bahamas) Limited (Nasdaq:ULTR), an industrial transportation company serving marine transportation needs in three markets (River Business, Offshore Supply Business, and Ocean Business), will host a luncheon for the investment community at noon on December 9th in New York.

At the event, the senior management of Ultrapetrol will present the Company’s business strategy, growth prospects, financial position, market outlook, and recent developments, followed by a question and answer session.

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Minister of Tourism Obie Wilchcombe has been in Canada recently to launch a new marketing campaign, which includes radio and television ads and billboards, as well as train and tram collateral.
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Pictured: Chris Uphold (left) chief customer service officer at the Toronto Transit Commission (TTC) and Minister of Tourism Obie Wilchcombe tour the subway platforms. (MOT BIS Photo Derek Smith)

Bahamas Minister of Tourism Obie Wilchcombe launched a comprehensive media and advertising campaign in Toronto, November 29.

Bahamas publicity images and logos now cover six Toronto Transit Commission (TTC) subway trains, with interior ads throughout.

The TTC, North America’s second busiest transit system, carries more than 460 million passengers per year.

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Minister of Tourism Obie Wilchcombe has been in Canada recently to launch a new marketing campaign. Watch an interview with Wilchcombe here.
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While Thanksgiving is not a holiday in The Bahamas, we often see an uptick in visitors from our closest neighbor joining us to celebrate their holiday’s historical roots and cultural traditions.

The Bahamas Investor would like to thank our US readers for helping us spread the word and make The Bahamas Investor a success.

We at The Bahamas Investor think foreign direct investment is integral to the growth and diversification of The Bahamian economy and we are grateful for those who join us in the promotion of the jurisdiction.

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