The Florida-based Royal Caribbean and Carnival Cruise Lines is joining forces with The Bahamas to undertake a whopping US$350 million investment in the upgrading of the Grand Bahama Shipyard, an unmistakable indication that one of the region’s best-known tourist havens will continue to bank on the sector to drive its economy in the period ahead. A July 10 regional media report indicated that the announcement of the joint mega-investment signals the country’s intention to raise its tourism game insofar as the tourism industry is concerned in the period ahead.
The Bahamian Prime Minister made the announcement during the closure of the country’s 2021/22 Budget Debate in the House of Assembly during which he reportedly disclosed that the recent investment in the shipyard had been preceded by other earlier ones totalling approximately US$250 million. Minnis said that the upgrading and expansion works on the Grand Bahama Shipyard will begin as early as October this year.