The Tourism Sector

The Ministry for Grand Bahama is mandated to ensure that Grand Bahama Island receives maximum benefits from all Government initiatives in order to restore its economy.  The Government of the Bahamas recognizes that revitalization of Grand Bahama is not only crucial for its residents but it is also crucial for the Country. 
 

An assessment of the state of the Tourism sector in Grand Bahama is presently underway by the Ministry for Grand Bahama for the development of this Island into a thriving tourist destination.  In collaboration with the Ministry of Tourism and other Industry Partners, the Ministry for Grand Bahama will seek to increase sea/air arrivals and promote additional cultural entertainment and touristic activities. 
 

To facilitate the above initiatives, the Ministry for Grand Bahama will work diligently with owners of closed resorts on the island to determine the best methods to reopen those properties in order to gain relevant market share.  To this end, the Government of the Bahamas will reduce hotel taxes for existing or reopened hotels for a period of five (5) years from the date of application and approval.  For new properties, the Government will reduce hotel taxes for ten (10) years from the date of application and approval.
 

The Industrial Sector

The advantages of pre-planning and the infrastructure of Freeport are clearly the best in this Country and the Caribbean.  As a result, the Government of the Bahamas has designated Freeport the industrial hub of the Bahamas.  To further promote this sector, the Ministries for Grand Bahama and Financial Services together with the master developer, the Grand Bahama Port Authority are intensifying efforts to attract targeted industrial investors by way of promotional trips in going forward.
 

Industries that produce high end products and those that offer high end services will be specifically targeted for investment in Grand Bahama.  This strategy will offset the country’s high costs of labour and electricity.