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Attorney General Sees The Bahamas as a Digital Assets Hub

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By: Betty Vedrine

Bahamas Information Services

 

#TheBahamas, April 26, 2022 – On the heels of the presentation of a White Paper on venturing into the business of digital assets by Prime Minister and Minister of Finance the Hon. Philip Davis in the House of Assembly on Wednesday, 20th April, Attorney General and Minister of Legal Affairs, Senator the Hon. Ryan Pinder foreshadows the country as a leading hub for the new technology.

While speaking during a press briefing on Thursday, 21st April, 2022 Senator Pinder said that the opportunities are endless and given the expertise that exists in the financial services sector, success can be leveraged to create a hub in the country.

“From the first week of this administration, we have been determined to build a framework that would allow us not just to participate but to lead in this innovative industry. At the same time, and as with any new industry, particularly one that’s changing so quickly, it’s important to protect our reputation and to protect consumers, so we know that getting our policies and regulations right matters enormously to setting ourselves up for success and to protect the jurisdiction,” he said.  Senator Pinder stressed, however, that the policies noted in the paper are designed to encourage growth while keeping ‘bad’ actors out.

Additionally, he said that as the paper was being developed, the government was very focused on the policy goal of ensuring that as the industry thrives, there would be opportunities for Bahamians to participate both as consumers and investors.

Senator Pinder explained how blockchain technology works and gave an overview of how it would underpin the growth of the industry.

“Blockchain is an open distributed ledger that can record transactions between two parties,”he said. “It creates a record that is encrypted end-to-end and cannot be altered, providing the security which makes crypto currencies viable. Blockchain has the potential to revolutionize financial markets and be a material player in the evolution of the financial services industry and development of financial technology business solutions. We don’t want The Bahamas on the out of this revolution looking in. We know we can make major contributions to this industry and we believe we can become a digital hub and leader in the international financial technology solutions industry.”

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Bahamas Tourism, on Track for Further Expansion

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By LINDSAY THOMPSON
Bahamas Information Services

 

NASSAU, The Bahamas — Key indicators show that The Bahamas experienced unprecedented growth in tourism, particularly in the Family Islands over the past year, and is on track for further expansion.

This was revealed by the Deputy Prime Minister and Minister of Tourism, Investments and Aviation the Hon. Chester Cooper as he highlighted 2024 successes, and shared the 2025 Strategic Plan Update, during a press conference on Wednesday, February 5, 2025.

Held at the ministry’s conference room at the British Colonial, also present were Acting Permanent Secretary, Ministry of Tourism, Investments and Aviation, Lisa Adderley-Anderson; Latia Duncombe, Director-General, Tourism; Dr. Kenneth Romer, Deputy Director-General, Tourism and Director of Aviation; Dwight Gibson, Director, Tourism Development Corporation; and Anthony Bostwick, Consultant, Downtown Development.

Deputy Prime Minister Cooper reported that at the end of 2024, The Bahamas recorded a record-breaking 11.22 million overall in foreign air and sea arrivals, surpassing the previous year’s number by 16.2 percent and 2019 figures by 54.7 percent.

“This is the best year ever, exceeding 2023,” he said.

Out of that number, foreign air arrivals across all destinations exceeded 1.72 million, equaling arrivals recorded in 2023, and surpassing the 1.67 million foreign air arrivals recorded in 2019 by 3.3 percent.

“December 2024 was the best month ever in terms of arrivals with 1.15 million visitors, posting 14 percent ahead of 2023 and 62 percent ahead of 2019. There was an 8.7 percent growth in air arrivals in Grand Bahama, second only to Abaco with an 11.9 percent growth over 2023. This is cause for celebration given the devastation and heralded a return to pre-Dorian and pre-Covid levels. This is truly a remarkable rebound,” he said.

The above results are notwithstanding the interruptions of Hurricanes Milton, Oscar, and the USA elections, he added.

The 2024 Impact of Cruise Tourism Report by the Business Research and Economic Advisors as commissioned by the Florida-Caribbean Cruise Association has The Bahamas ranked as number one in the Caribbean and Latin America in terms of total economic benefit.

“These passenger and crew visits along with additional expenditures by the cruise lines generated a total of $654 million in cruise tourism expenditures in The Bahamas during the 2023/2024 cruise year compared to $405 million in 2018. This is a staggering 61 percent increase,” Mr. Cooper said, adding “Our estimates suggest that when we add direct employment, taxes and levies the overall benefit exceeds $1.25 billion with overall tourist spending in the $6 billion range.”

Notwithstanding this, he noted that the Government has engaged a study to further calculate and examine the economic benefit of the cruise business to the Bahamian economy.

“We were pleased to see the attractions of more than $10 billion of Foreign Direct Investments over the last two years with high-end brands like Montage, Rosewood, Six Senses, Montage, Rosewood, Park Hyatt, Bvglari and Four Seasons Residences.

“This is extremely positive for cementing our reputation as a premier luxury destination.”

He said Tourism is also optimistic of the contributions to be made by Celebration Key in Grand Bahama and the Royal Caribbean Club, which are new investments, slated to come on stream before the end of 2025.

Additionally, the ministry launched the ‘Home Sweet Home’ program which incentivizes vacation rental as a short-term boost to room availability.

“We are pleased to announce phase II of this program that offers grants of up to $10,000 and loans via the Bahamas Development Bank for qualified applicants,” Deputy Prime Minister Cooper said.

As a whole, the Islands of The Bahamas attracted foreign air arrivals services from 23 airlines and air carriers in 2024, representing direct route services from 34 international markets across the USA, Canada, London, France, Italy, Turks and Caicos, Cayman, Jamaica, Cuba, Haiti and Panama.

“While we continue to experience unprecedented growth overall, it should be noted that the largest percentage growth in overall foreign air arrivals, as well as increase in seat capacity, were experienced in our Family Islands,” he said.

Deputy Prime Minister Cooper further noted that Moody’s, Standard & Poor’s, and International Monetary Fund all praised the post-Covid recovery with the latter noting the “remarkable” recovery of the economy “buoyed by a strong increase in tourism.”

He thanked partners and stakeholders inclusive of airlines, hotels, promotion boards, executives and staff of the ministry and the “magnificent people” of The Bahamas who have embraced the mantra that “Tourism is Everybody’s Business.”

PHOTO CAPTION: Deputy Prime Minister and Minister of Tourism, Investments and Aviation the Hon I Chester Cooper gave a tourism update and projections during a press conference on Wednesday, February 5, 2025 at the ministry’s conference room at the British Colonial. Pictured from left are: Anthony Bostwick, Consultant, Downtown Development; Acting Permanent Secretary, Ministry of Tourism, Investments and Aviation, Lisa Adderley-Anderson; Deputy Prime Minister Cooper; Latia Duncombe, Director-General, Tourism; Dr. Kenneth Romer, Deputy Director-General, Tourism and Director of Aviation; and Dwight Gibson, Director, Tourism Development Corporation.

(BIS Photos/Kemuel Stubbs)

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On World Cancer Day – Mrs. Ann Marie Davis advocates for early detection

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By DANIELLE ROLLON

Bahamas Information Services

GRAND BAHAMA, The Bahamas — World Cancer Day is observed globally on February 4 annually to raise awareness and encourage action in the fight against cancer. In honor of this important day, the Mammogram Access Programme (MAP) hosted a World Cancer Day event at Pelican Bay on Grand Bahama, under the theme “United by Unique.” The event was held under the patronage of Mrs. Ann Marie Davis, spouse of the Prime Minister of The Bahamas.

During her address, Mrs. Davis emphasised the significance of early detection in the fight against cancer.

“Cancer remains one of the most pressing health challenges worldwide. Breast cancer is one of the most common cancers among women, with millions being diagnosed each year. The survival rate significantly reduces death and it significantly improves with early detection, which is why we are here today,” she said.

She also commended the work of Nikeia Watson, the founder of the Mammogram Access Programme, and highlighted the importance of the programme in increasing accessibility to mammograms for women in the Northern Bahamas.

“The Mammogram Access Programme ensures that every woman, regardless of her socio-economic status, geographical location or background has access to life-saving mammogram screenings,” Mrs. Davis said.

Founder and Chairman Nikeia Watson also discussed the crucial role of early detection in overcoming breast cancer. She explained that breast cancer remains a significant challenge worldwide, but early detection dramatically increases survival rates.

Watson shared MAP’s 2025 screening initiative, described as a 38-mile journey, where each mile represents hope, progress, and access to life-saving care. As part of this initiative, MAP celebrated the induction of five new breast health educators, known as “Lemonistas,” who will help spread awareness and encourage persons to take proactive steps towards their health.

Samantha Colton, Vice Chairman of MAP, spoke about the importance of continuing efforts in breast health education, saying, “The Know Your Lemons Foundation has become a global leader in innovative breast health education, using its memorable 12 signs of breast cancer lemon. Through partnerships like these, MAP has continued to bridge critical gaps in healthcare access for underserved communities by providing educational resources, outreach programs, and advocacy efforts.”

The partnership between MAP and the government is crucial in promoting breast health initiatives and ensuring access to care. As MAP continues to expand its reach, the program remains committed to improving breast health outcomes through education, awareness, and accessible screenings for all women throughout the Bahamas.

 

PHOTO CAPTION

UNITED BY UNIQUE — On February 4, in honor of World Cancer Day, the Mammogram Access Programme (MAP) hosted a “World Cancer Day” event at Pelican Bay, Grand Bahama, under the patronage of Mrs. Ann Marie Davis, spouse of the Prime Minister of The Bahamas. During the event, MAP celebrated the induction of five new breast health educators, known as “Lemonistas”.

(BIS Photos/Jamika Culmer)

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Bahamas Government to meet with SpaceX

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PRESS STATEMENT

Ministry of Tourism, Investments & Aviation

 

The Bahamas, February 6, 2025 – A delegation inclusive of all relevant agencies is meeting with SpaceX officials as The Islands of The Bahamas finalise preparations for the historic landing of a SpaceX Falcon 9 rocket booster on February 17.

This landmark moment will make The Bahamas the first international destination to host the Falcon 9 rocket booster landings. This historic event, set to take place off the coast of The Exumas, marks a significant leap for The Bahamas into the realm of space tourism.

The collaboration between Bahamian officials and SpaceX positions The Bahamas as a key player in the growing space tourism industry, with 20 scheduled landings to take place in Bahamian waters on autonomous drone ships. The country will be the exclusive location to witness these remarkable events, offering unique economic opportunities and advancements in technology.

The delegation includes senior representatives from the Royal Bahamas Defense Force, the Bahamas Air Navigation Services Authority, the Department of Environmental Planning and Protection, and the Port Department.

The relevant senior officials will remain on hand during the launch sequence and launch and ascent. They are fully engaged to ensure all safety, regulatory, and operational measures are in place for the scheduled landing. Every effort is being made to facilitate this historic event while maintaining the highest standards.

Further details regarding the landing and related activities will be forthcoming.

The Hon. I. Chester Cooper
Deputy Prime Minister & Minister of Tourism, Investments & Aviation

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