This past year was one for recovery and reflection. The COVID-19 pandemic, alongside widespread predictions of a US and wider global recession, supply chain disruptions and other socio-economic tragedies, has marred potential development opportunities for world leaders, consumers, entrepreneurs and businesses. The same sentiments are likely shared by many Bahamian families and businesses. As we approach our 50th independence celebration, we should take time to reflect on what the past three years have taught us as a nation. These events were not a test of endurance. Instead, they were an eye opener for how unprepared we are to survive beyond the short-term aftermath of unforeseen disasters or events. The pandemic forced governments to step up, and step out, of their comfort zone to deliver sustainable, safe and disruptive solutions to health challenges that the world had not seen for 100 years. Now that our eyes have been opened to the need to diversify and plan for the unforeseen, what will our government do better to improve the current state of the country? Will we continue to aim for progress, yet revert to doing the same things we have always done?

Reality Check

Since 2020, there has been no mention of using the National Development Plan (NDP) to kickstart the reforms needed across our islands to spur economic growth. There has also not been a shift in policy circles regarding the bureaucracy and red tape that still plague the ease of doing business, plus health care and crime. This signals that we may not have learnt the importance of planning for the future. But, to kickstart 2023 on a positive note, we trust that our government has a lot of innovation in store for us this year. In the meantime, this article will focus on key issues that continue to hold back national development.

Northern Bahamas

Grand Bahamians would agree the island has seen better days. Yet it appears that, since 2004, when its prolonged downturn began, the island’s ‘magic city’ reputation has been permanently blemished as residents continue to leave in search of better economic opportunities and standards of living. Successive governments have tried to give Grand Bahama the tools for success, such as new infrastructure, foreign direct investment and even diversifying its economy, but nothing has truly produced measurable outcomes. The main reason is because hardly any promises and plans for Grand Bahama come to fruition. What is causing this? It could be the relationship between the Government and the Grand Bahama Port Authority (GBPA), or it could be a loss of interest in developing the island further. Maybe our governments have decided it is time to pump the brakes on Grand Bahama and focus on other Family Islands that are thriving. Whatever their thinking, the island remains in a depressed state.

However, there are many Family Islands, such as the Abacos, that have compensated for Grand Bahama’s reduced economic contribution. Abaco was for some time referred to as the nation’s second capital. Increased airlift and marina traffic, along with the construction of multi-million-dollar second home properties, all played a role in the island’s booming economy. However, Hurricane Dorian changed Abaco’s economic outlook. The island’s airport was destroyed, families were traumatised, and decades of home home ownership and businesses were gone in less than a day. Thankfully, successive governments together with aid from several international organisations provided relief in response to this devastation.

Yet, three years after the passing of this Category Five storm, residents still have questions on when things will fully get back to normal. One concern is whether Abaco will suffer the same fate as Grand Bahama. The latter island was a booming second city with much to offer prior to Hurricane Frances in 2004 but, somehow, it never fully recovered from this blow. We hope the Government continues to work aggressively towards rebuilding Abaco this year to prevent one more island from spiralling downward.

Central Bahamas

Exuma and Eleuthera

Eleuthera and Exuma are islands that have the potential to become economic centres for The Bahamas. Both islands have luxury real estate offerings, established hotel brands, skilled human capital and reliable infrastructure. The islands are also a hotspot for the growing second home and vacation rental market. With so many parts that combine for the success of these two islands, it goes without saying that a plan is needed to ensure this continues. The Government should be prepared to further invest itself while managing future private sector investments more effectively. For example, better healthcare facilities are needed for both islands to ensure that residents and visitors do not incur expensive air travel to access medical services. Given the increasing airlift demand for both islands, this could encourage visitors or residents to visit more often. What is also needed for these islands are better airports, with construction work having already begun in Exuma.

Southern Bahamas

Mayaguana holds significant potential for The Bahamas given its ideal geographic location and land mass. It is a great blank state for investment. The investment group connected to this island was the Boston-based I-Group, which proposed a $1.8bn development in 2006. The then-government entered into a Heads of Agreement with Mayaguana Island Developers (MID), a joint venture entity owned 50/50 by the Government through the Hotel Corporation of The Bahamas (HCB) and the I-Group. A $7m airport development was proposed for the island. However, this has yet to start. There was also a potential project called “Port Mayaguana”. Given the island’s geographical location, it would be ideal for a transshipment hub since it sits in a major shipping lane. Minimal dredging is required since there is easy access to deep waters. The proposed port would be located at the southern part of Betsy Bay. Since we are not clear on the direction for developing this island, the government should provide an update to Bahamians on the status of long overdue projects and its relationship with the I-Group.

The National Development Plan

In 2023, we need to dust off the National Development Plan since it remains the most effective tool that will guide our leaders and policymakers by giving them the direction needed to usher in new growth for all islands. It promotes sustainable, well-researched solutions that each island can benefit from. Common issues faced among all islands are the ease of doing business, education, healthcare, transportation, tourism and investments. The National Development Plan has already outlined how these issues can be addressed.

Conclusion

In closing, there is still a lot of work to do. Our nation has accomplished a lot over the past five decades yet it has not progressed in many areas. We are focused on resilience and endurance when we should really be focused on shifting the paradigm and becoming disruptors. Our current situation from a socio-economic standpoint could use improvement if only we would begin to step out of our comfort zone. As we head towards 50 years-old, let’s celebrate by putting the best interests of the Bahamian people first.