By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

Bahamian marinas fear they will lose $25m in direct revenue as a result of boating fee hikes and cumbersome regulatory processes, it was revealed yesterday, with the industry also blaming these woes for the cancellation of next month’s Bahamas Charter Yacht Show.

Peter Maury, the Association of Bahamas Marinas (ABM) president, told Tribune Business that a recent survey of its members also disclosed that around 1,000 jobs could be endangered by the sharp “40 percent” decline in both charter and cruising arrivals as he warned: “The Bahamas is not the most popular destination right now.”

The cancellation of the fourth annual Bahamas Charter Yacht Show emerged as Chester Cooper, deputy prime minister and minister of tourism, investments and aviation, finally announced that the Government will “review” the fee increases and regulatory changes that were implemented on July 1, 2025, following six months of warnings and advocacy by maritime and tourism stakeholders about their likely damaging impact.

While Mr Cooper said the review (see other article on Page 1B), for which no start or finish dates were given, will assess the “competitiveness” and “impacts” of The Bahamas’ boating regulatory regime, several marina and tourism sources - speaking on condition of anonymity - told this newspaper that any reforms will almost certainly come to late to save the peak 2025-2026 winter season, one saying simply: “I think the damage is done.”

Another added of the Government: “About time they understand the error of their ways but, to be honest, a lot of charter boats have moved on never to return or at least it will take years before this reversed. Not that it is the be all, but we make the economy go round in the Exumas and Abacos for sure. Two big charter companies - 30 boats each in Abaco alone - are closing shop because it’s too expensive to operate.”

Another casualty is the 2026 Bahamas Yacht Charter Show, which was scheduled to be held from January 28 to February 1 in the New Year. In an online notice that was shared with Tribune Business, it was announced: “We regret to inform you that the 2026 Bahamas Charter Yacht Show has been cancelled due to circumstances beyond the control of the ABM.

“While we are saddened by this decision, we sincerely appreciate your understanding and look forward to welcoming you back in 2027.” Mr Maury linked the cancellation directly to the new and increased boating fees, and bureaucratic entry processes that visiting vessels have to navigate, as The Bahamas’ resulting loss of competitiveness means the Show cannot attract sufficient boats to make it economically viable.

The ABM chief argued that the greatest losers from the Show’s cancellation will not be the marinas but, instead, the spin-off and support Bahamian-owned businesses that support the sector. These firms, ranging from boat cleaners and carpet cleaners to provisioners, numbered around 40 exhibitors at last year’s event, and Mr Maury explained that the Show provided a one-stop platform for them to show what they can do to boat owners, captains and brokers.

Noting that Bahamian exhibitors at the previous three Shows, which first launched in January 2023, are typically not present at international boat shows, Mr Maury said of next month’s event: “We did cancel it.

“Last year, at this point we had 40 boats. Right now, we have less than 20. We were just going to be paying more money to have the show. There’s no boats. We need a minimum of 25 boats, and we’re not even close to that. I think they said they have 12, and it’s a month before.”

The ABM president said the small number of exhibiting boats meant the 2026 Show was unlikely to be financially and economically viable, especially after a major sponsor, Safe Harbour, which operates a number of Florida-based marinas, pulled out.

Show organisers must “put a guarantee” on the “block” of rooms they have reserved at Atlantis, as well as marina slips, and with reservations and attendance unlikely to match they had little choice but to give up these bookings and reclaim their funds prior to passing the ‘30 days before occupancy’ deadline at which point their money goes ‘hard’ and cannot be recovered.

“Last year we lost; we didn’t lose a lot, but we lost some money,” Mr Maury recalled, “and this year we were going to be losing thousands. The marinas are already losing enough money because of the fees and everything else. We cancelled. We talked to the Ministry of Tourism, Bahamas Yacht Brokers Association…

“The whole point of the show was to feature Bahamian companies. We charged $100 for Bahamian companies to be in the show, and if we don’t have a major sponsor we cannot charge them more because they cannot pay more. It’s a real loss. It’s no Florida boat show, but it’s a couple hundred thousand to the local economy in room sales, restaurant business.

“Last year I cannot remember where it ended up. We had around 100 brokers and close to 40 boats. The year before we had 180 brokers and 80 boats. Everybody was shopping in the food stores, getting rooms, and we were actually growing. Then this happened.”

Linking the Show’s woes, and attendance drop-off, directly to the increased boating fees, Mr Maury added: “The brokers can’t sell charters in The Bahamas. They’ve seen a 40 percent reduction in bookings for The Bahamas while the Caribbean region has seen a 25 percent uptick. It’s not hard to figure out. It’s just maths.

“The problem is also the processing [entry/clearance of visiting boats into The Bahamas]. I have realised a lot of Bahamians don’t understand what these boats go through. They think these boats are getting all the fish and other stuff.” The ABM president said boat captains, owners and brokers he has spoken to have contradicted the belief that the extra costs involved in bypassing The Bahamas in favour of the Caribbean, particularly fuel expenses, mean vessels have no choice but to remain in this nation’s waters.