Cruise Lines Preparing $500 Million Investment For The Bahamas

Nassau, Bahamas
Photo By: Brian Summers (Creative Commons)

The Bahamas has big plans. The cruise industry is making moves in the Caribbean. Is this competition or opportunity? With the current events unfolding how will it all play out.

The Bahamas is set to receive a $500 million investment. The Minister of Tourism broke the news. The investment will be laid out over a two-year plan. The cruise lines providing a majority of the funds are MSC and Carnival Corp. MSC plans to spend $100-$200 million on the private cay island project. While Carnival is planning a port on east Grand Bahama.

The Minister of Tourism Obie Wilchombie, released statements on proposed plans.

Obie Wilchombie Minister of Tourism:

“We have major players such as Carnival, Royal Caribbean, Disney and Mediterranean (MSC) all now in the middle of completing major negotiations for further development that would mean hundreds of millions of dollars being invested in the Bahamas; in fact, well over half a billion dollars of investment over the next year or two.”

A good note to add. This is the same official who made comments about Cuba. The relations with the U.S. and Cuba has other Caribbean nations worried. Some would say, Cuba can draw valuable tourism currency away from traditional destinations in the Caribbean. The competition is not always welcomed. Cruise Hive will continue to report on the matter.