The Tribune

By DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

PRIME Minister Perry Christie yesterday opened the Grand Bahama Business Outlook, expressing optimism in the city of Freeport and the economic revitalisation of the island.

Mr Christie believes that the island is heading in a positive direction, especially in the tourism sector where some 600 new permanent jobs were recently created, and another 300–400 tourism-related jobs are projected to come on stream this year.

“The optimism that I found in what is taking place now, (leads me to say that) we have turned the corner and (are) headed in a positive direction,” he said at the Grand Lucaya Resort while delivering the keynote address.

He said the island’s economy is gaining momentum amidst formidable challenges.

He reported that the cruise and stay market, which has always benefitted hotel operators, is projected to have an overall impact of some $31m on the local economy.

The prime minister stated that the new Grand Celebration and Balearia’s new 1,000 passenger Fast Ferry, the “Bahama Mama,” together are expected to generate more than $42m in the Grand Bahama economy and $2.3m in government revenues in 2015.

Discussions with major cruise lines, Mr Christie said are underway for the development of a new cruise destination with Bahamian-themed attractions in Grand Bahama.

“We anticipate being able to make further announcements about this in (due) course. But for restrictions that we are faced with, we should have completed our negotiations by now. Again, I continue to be optimistic that this major intervention into the economy of Grand Bahama will happen in short order,” he said.

Mr Christie also reported significant improvements in tourism growth in the past year on Grand Bahama, which saw a 56 per cent increase in hotel occupancies and 33 per cent increase in hotel revenue, as well as the creation of some 1,000 construction and 600 new permanent jobs. He pointed out that for the first time since 2004, hotel inventory demand is expected to exceed capacity on the Lucayan strip.

Additionally, he noted that government recently negotiated daily air service with Delta Airlines to Freeport, representing a 400 per cent increase in seat capacity from the increased frequency of flights provided by that carrier.

Grand Bahama’s overall tourism business growth is projected to increase by 40 per cent above last year’s arrivals of 1,076,416 air and sea passengers, he said.