The Bahamas Investor

...lery of The Bahamas, Dr Erica James. “If an artist sells a work for $1,000 for example and over the next year he shows his work, gains increasing recognition, is invited to participate in shows, is written about enthusiastically in art magazines and journals and so on, the following year a demand would be generated that allows him to sell the new work for maybe $1,500. “But if a $1,000 painting from the year before is resold in that time for $4,00......

...ndamental level and that means that when a piece of legislation is passed, for example, the private sector has been so involved that it has the enthusiasm to turn it into a product and go out and promote it.” The briefing trips overseas give companies the opportunity to do just that. “The BFSB has created a product that allows companies that have a footprint in The Bahamas to promote themselves, the BFSB, The Bahamas and the products we have avail......

...stment model.” Strategic approach According to the United Nations Economic Commission for Latin America and the Caribbean, $4.443 billion flowed into the Caribbean in 2011 from foreign direct investment (FDI). The Bahamas was second only to The Dominican Republic in terms of its share—recording $840 million in FDI for the year, due mainly to the multi-billion-dollar Baha Mar mega-resort and casino, which is the largest project of its kind in the C......

...profits to environmental groups. The key is to develop sustainable finance for green initiatives and for the management of protected areas in order to nurture the sector’s growth and prevent the decline of major economic drivers such as tourism that are based on natural resources. Need for financing While many protected areas exist, very few of them are managed effectively; insufficient financing is one of the root causes. In an effort to address......

...visors and trustees or their private bank? Banks and family offices Driven by competitive pressures and the greater complexity of the lives of wealthy people, banks have begun catering more diligently to their clients’ needs through family offices. In many respects it is a natural evolution, as the focus of the international banks in The Bahamas has for many years been concentrated on the management and preservation of private wealth. Family offic......

...ns compete for a larger share of baby boomer and Gen Y travel dollars, the competition for that business is growing more intense. A major contender in the travel industry throughout its long history, The Bahamas has managed to sustain its place as a tier-one vacation destination for decades. Recent figures show that tourism continues to account for more than 50 per cent of GDP, with financial services weighing in second at approximately 15 to 20 p......

...me or just spend a few restorative weeks every year. There’s scuba diving, for example, tennis, golf, yachting, deep-sea fishing, swimming, wind surfing, fine dining, dancing, live entertainment, horseback riding, gambling… Well, one could go on. But the appeal of the islands goes beyond even all this, for The Bahamas is not only a wonderful place to own a dream home, it is a premier location to invest your money and grow your wealth. In fact, man......

...imply put, BISX will need more Bahamian involvement to grow (at this time, foreign participation is not possible). Davies looks forward to the day government bond offerings are listed and traded publicly. Not only would this increase exchange volume, it should lower borrowing costs for the government and increase liquidity. An active stock market would give Bahamians more alternatives for investing their savings and realizing potentially greater r......

...pture the larger amount of activity in the economy. In looking at the need for tax reform we could approach it from any number of ways. Externally The Bahamas has indicated an intent to join the World Trade Organization. As a member of WTO, at some point, we would have to reform the tax structure because tariffs would be regarded as barriers to trade. That in itself means we should be looking at reform. But more importantly, and despite any of the......

...rtisans sit side-by-side with world renowned brands. If you love luxurious comfort, you have four high-end hotels to choose from. This is what Izmirlian hopes will attract the world’s rich and famous, glamorous and powerful. When the grand opening takes place, Baha Mar will play host to 2,500 VIP guests and the world’s media. But once it has made its grand entrance, what will be the megaresort’s lasting legacy for the country and its people? “I th......

...like to think it’s significant. We’re frequently amazed when very big-name companies come and talk to us, but that is now happening on a not infrequent basis, so we’re getting used to the idea. We have some really big-name financial institutions that are talking to us and buying from us.” The company’s flagship software programme is called International Private Banking System (IPBS) and is described as a fully integrated, Internet-enabled, multipl......

...mas, and to Nassau and Paradise Island. I trust that by now my greeting is simply the formal expression of the warm reception and careful attention you have already experienced. We are always happy to embrace opportunities that gather colleagues and partners from throughout the region and around the world in The Bahamas. 2012 is a year of notable anniversaries for the tourism sector. It is the 50th anniversary of the Caribbean Hotel and Tourism As......

...l at Marathon , Prime Minister Hubert Ingraham launched the high-speed telecommunications network by placing his hand on a touch-screen display to symbolically activate the 4G technology. Also in attendance were members of the Cabinet, directors, dignitaries, union leaders and about 100 invited guests. Activities celebrating the grand opening are set for Saturday December 10, with entertainment, Junkanoo, stilt walkers, artists, musicians and othe......

...out building portfolios stock by stock. We are long-term investors looking for companies that are trading at a discounted value but where we think price to future earnings is still looking very attractive. The biggest overweights in our portfolio right now are in technology, with some cyclical consumer stocks such as media, health care and pharmaceuticals.” Sweeting says it is also a good time to get quality upgrades to the portfolio as a lot of w......

...the islands’ charms. “I have been a huge fan of The Bahamas and have been coming over here for 25 years,” says Norman. “To see the growth of what is happening in The Bahamas is just phenomenal. Not only have we seen the influx of dollars from the United States, but we have also seen money coming in from Europe. We have seen growth in tourism because this is such a beautiful country and destination to visit. And part of that attraction is golf.” N......