Investment Opportunities in The Bahamas
A Message from the Deputy Prime Minister and Minister of Tourism, Investments and Aviation
Deputy Prime Minister and Minister of Tourism, Investments and Aviation Chester Cooper.
Addressing an Investment Forum in Washington DC
The Deputy Prime Minister and Minister of Tourism, Investments and Aviation, the Hon. Chester Cooper, recently addressed an Investment Forum in Washington DC, emphasizing that “it is better in The Bahamas” when it comes to doing business.
“If you’re looking to do business and to invest, The Bahamas is better than ever before,” he said, urging potential investors to take advantage of opportunities being rolled out by the Bahamas Government.
Support for Investors
The government is committed to providing the necessary support to help ensure investment is a success, through the one-stop facilitation of the Bahamas Investment Authority. “We have a strong brand, but God has done most of the work in positioning the Islands of The Bahamas,” he noted.
The country’s beauty is incomparable, and it’s easily accessible from major tourism markets – two hours from DC and 27 minutes from Miami. “However, we still sell it and constantly work on strengthening that product. I’m also the minister of Investments. And if you think about it, that makes sense,” he said.
Investment Opportunities
Many of the reasons tourists come to The Bahamas are the reasons that investors should consider The Bahamas, according to the minister. He noted the dollar parity with the United States, a stable democracy, and peaceful hospitable people. And, visa-free seamless travel from the US with Pre-Clearance and TSA checks.
“We have a strong growing economy that has allowed us to build modern infrastructure throughout our archipelago,” the minister said, adding that more direct flights are being scheduled between The Bahamas and the US.
Record Tourism Arrival Numbers
The minister touted record tourism arrival numbers: in 2023 arrival of 10 million visitors, which was an increase of more than 30 percent ahead of 2019 pre-pandemic levels. Already this year, the country is seeing a 15 percent growth in overall arrivals, over the 2023 record.
Recent Policy Initiatives
Recent policy initiatives aimed to make The Bahamas more attractive, reducing carbon footprints and enhancing environmental resilience. This is being achieved through the National Investment Policy, which is designed to attract investment in alternative energy, green technology, eco-tourism, and carbon credits.
“We are also advancing The Bahamas as a digital society, fully embracing smart technology and the digital economy,” he said.
Progressive Legislation
The minister shared progressive legislation benchmarked against international best practice, including Digital Assets and Registered Exchange Act, the Longevity and Regenerative Therapies Act, the Climate Change Initiative Act, the Carbon Credit Trading Act, and Cannabis measures.
“All innovative pieces of legislation that demonstrate our commitment to innovation and to revolutionizing our economy that open new vistas for our country, in a secure, transparent, and well-regulated way,” he said.
Conclusion
The Bahamas is open for business, and the government is committed to providing the necessary support to help ensure investment is a success. With its strong brand, beautiful location, and growing economy, The Bahamas is an attractive destination for investors.
FAQs
Q: What are the investment opportunities in The Bahamas?
A: The Bahamas offers a range of investment opportunities, including alternative energy, green technology, eco-tourism, and carbon credits.
Q: What is the government’s commitment to supporting investors?
A: The government is committed to providing the necessary support to help ensure investment is a success, through the one-stop facilitation of the Bahamas Investment Authority.
Q: What are the benefits of investing in The Bahamas?
A: The Bahamas offers a range of benefits, including dollar parity with the United States, a stable democracy, and peaceful hospitable people.