The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

Sir Franklyn Wilson yesterday asserted that “pockets of The Bahamas will experience their best year in history” in 2026 while conceding that complaints the economic benefits are not being felt by all will always be “the reality”.

The Arawak Homes and Sunshine Holdings chairman identified south Eleuthera, home to the Jack’s Bay project that he chairs, as one such area poised for a 2026 surge thanks to its growth and that of other nearby tourism-related developments. Grand Bahama was another location where “very significant things” were poised to happen during early 2026.

And, while warning that The Bahamas must not forget those “left behind”, he argued that many in this situation will not escape unless they alter “personal behaviour patterns” such as “overloading” themselves with consumer debts that they are then unable to repay or excessive gambling expenditures.

Sir Franklyn also issued a plea for Bahamians working and living abroad to reverse the “brain drain”, caused by the most skilled and talented citizens leaving for education and lucrative employment abroad, to consider returning home as the economic and other “opportunities here are real”. While many are doing well overseas, he said there is “reason to believe many are not doing better abroad than they could do in The Bahamas”.

Voicing optimism about The Bahamas’ overall prospects for 2026, Sir Franklyn told Tribune Business: “Let me put it this way: My view is there’ll be areas of the country that experience their best year in history; areas, pockets. South Eleuthera will be among them. And I’m not talking about no recent times; in history. South Eleuthera will experience the best time in its history.”

Besides his own Jack’s Bay project, which was recently said to have generated almost $59m in real estate sales in the near two-year period since April 2023, he also pointed to Disney’s Lighthouse Point cruise port destination as well as the nearby Ritz-Carlton Reserve development spearheaded by Colombian billionaire, Luis Carlos Sarmiento, and movement at Cape Eleuthera and Windermere as justifying his confidence for south Eleuthera.

And, despite its two-decade economic stall, Sir Franklyn also named Grand Bahama among the islands that are poised to thrive - although the full impact may not be felt in 2026 - as he alluded to upcoming announcements next week by Prime Minister Philip Davis, which will likely focus on the Grand Lucayan and Grand Bahama International Airport as well as, potentially, the $357m arbitration dispute with the Grand Bahama Port Authority (GBPA).

“I am convinced that within the first quarter of this year there’ll be very significant things happening. Matters are at a certain stage in Grand Bahama, but it will take a little longer for the full impact to be felt,” Sir Franklyn said. “I’m aware of it, but I will not get into specifics because the Prime Minister will have more to say on it in the future.

“Well-informed Grand Bahama businessmen, who know what is going on, tell me the future of Grand Bahama is very bright and strong, so it is no surprise that the Prime Minister is going down there. He’s going to say something…

“Overall, when you look at the numbers collectively, there’ll be pockets of the country that experience there best time ever. There will be pockets that are strong, and pockets that do well over the longer-term. If you look at the macroeconomic level as a whole, I think we’re in great shape.”

Sir Franklyn projected that it will “take a little longer for the energy policies of the Government to be felt” with the “full impact” from renewable and other reforms, including a cut in the price of electricity, only likely to emerge next year in 2027. FOCOL Holdings, the BISX-listed entity that he chairs and is the largest shareholder of, is heavily involved in the reform process as New Providence’s baseload generation provider.

However, the Government’s political opponents and other observers have frequently stressed that the economic growth, job creation and investments much-touted by the Davis administration are not benefiting, or being felt by, many Bahamians especially amid ongoing cost of living and price pressures.

While admitting that this is a reality, and urging Bahamians to help those who are less fortunate, Sir Franklyn said a number of those complaining are at the margins because of their own poor personal choices and decision. “I’m very much aware of people in the road saying they don’t feel it,” he told Tribune Business. “There’s a reality in The Bahamas that’s a real, real problem.

“If the economy grew by drastic levels, double what it would normally be, some people just don’t feel it. There’s some people, for reasons, for decisions they made, who are overloaded with consumer debt or continue to gamble. There are people who have made decisions and I don’t know what you do for them.

“That’s the reality. That’s the way it is. While the economy is doing well, it’s strong, I urge us all to remember those - let’s be candid - who have been left behind. I’m not sure what we do, but we cannot forget them,” Sir Franklyn said.

“At the same time, I am convinced that part of the solution to those left behind has to involve a change in their personal behaviour patterns such as gambling less. They have got to take better care of their money, their things. It’s serious. I don’t see how it changes for a significant proportion of the population until some behaviour patterns change.”

The Arawak Homes chairman then issued a personal plea for Bahamians living and working abroad to return home and put their talents and experience towards national development. Pointing to “opportunities” that exist and can be created throughout this nation, he asserted that too many Bahamians ignore “the geography of this country” - pointing, as an example, to Inagua alone being “three times’ larger than Barbados’.

“A lot of Bahamians don’t think about the implications,” Sir Franklyn told Tribune Business. “One of the things I see is that there are more and more opportunities for Bahamians who have moved away. I am appealing to all Bahamians who have moved away to look closely at your country again as the opportunities here are real.

“There are, of course, many Bahamians doing well overseas. We salute them, commend them and are proud of them, but for those who may not be doing so well there’s home. I have reason to believe a lot of Bahamians are not doing better overseas than they can in The Bahamas, but are almost embarrassed to come back home.

“I’m saying to them: Forget pride. Face facts that you are not doing better. Come back home. Bring your talent and experience. Yes, there’s a brain drain, but there are plenty of opportunities for Bahamians to come back home. Come back home and share your innovation.”

Sir Franklyn said south Eleuthera’s impending growth is “going to create new problems” of a housing shortage and over-employment. And he warned that the need for affordable homes could be difficult to cure unless multiple land title issues in the area are resolved.