EXUMA BUSINESS OUTLOOK 2024 REMARKS

CHESTER COOPER, DPM, MOTIA

OCTOBER 17, 2024

Good morning, ladies and gentlemen,

It is my honor to address you today at the 2024 Exuma Business Outlook.

Exuma has been the envy of much of The Bahamas in the past few years, and in the past year alone, we have seen transformative changes, particularly in our key sectors like tourism, business development, and infrastructure.

As you know, tourism remains the backbone of Exuma's economy, and in 2023, The Bahamas achieved a record-breaking 9.6 million visitor arrivals. Exuma played a significant role in this achievement. In 2023 alone, we welcomed 86,261 visitors, which marked an impressive 19.3 percent increase compared to 2019.

Exuma continues to be a sought-after destination, and I am proud to report that from January to date, is tracking generally in line with 2023, notwithstanding closure of Sandals.

And I want to add that we have no cruise business, and we ideally want to keep it that way.  

However, despite these successes, we have faced challenges.

One of the most notable is the temporary closure of the Sandals Emerald Bay resort, which has been a key player in our tourism sector.

We are continuing to work to deploy displaced workers, and still urge anyone looking for a job to register with our job bank at the TeamCooper office or at teamcooperExuma.com.

Sandals has announced a $100 million transformation of its Emerald Bay property into the new Beaches Exuma, a resort that will expand the number of rooms and enhance the offerings on our island.

This renovation project, while temporarily reducing our hotel inventory by 250 rooms, is set to transform the landscape of tourism in Exuma, and we expect it to bring about significant benefits in the near future.

During this period, we have implemented strategic initiatives to mitigate the impact on our tourism industry.

To this end, we have been working diligently with hotels, major airlines, tour operators, booking engines and digital and traditional media to drive traffic to Exuma. We have deployed strategies to convert leads and to turn lookers into bookers.

We have partnered with Expedia and other travel platforms to further promote Exuma vacation packages, offering special incentives to encourage bookings. In effect, we have revved up the engine.

We have also engaged with private homeowners and short-term rental owners, providing them with the necessary tools to participate in the market and meet the demand for accommodations.

Notwithstanding the loss of the 250 rooms at Sandals, I am pleased to tell you that our research has shown that we have roughly 3,000 rooms available. Not to diminish in anyway the contributions of Sandals, it is refreshing to note that we have long been a vacation rental market focused heavily on affluent family travel. 

Fortunately, our airline partners recognize this fact.

I am pleased to announce that when we look at the number of seats coming to Exuma for the upcoming season we are 2 percent ahead of where we were last year in terms of capacity.

In fact, Delta Airlines up 10 percent in capacity with its daily flight from Atlanta.

American Airlines continues its twice daily from Miami and is still doing once a week from Charlotte but will be doing 6 times a week during month of January.

Air Canada continue its once a week from Toronto

Silver Airlines continues its once per week from Fort Lauderdale and

Bahamasair is continuing its twice a week service from Fort Lauderdale.

The Ministry of Tourism is also working closely with key hotels on the island, to ensure that their offerings remain attractive and competitive.

Our focus remains on maintaining Exuma's position as a premier destination while ensuring that we continue to create opportunities for our people.

The transformation of Sandals Emerald Bay into Beaches Exuma will create over 850 new jobs once the resort reopens.

The construction phase alone is expected to generate 500 jobs, providing a significant boost to the local economy.

With Sandals being couples only but Beaches being family we will now see family of four or more rather than just two. This means more traffic for airlines, restaurants and tour operators.

We are also focusing on upskilling our workforce to ensure that Exumians are prepared to take full advantage of the opportunities that lie ahead.

Initiatives such as job fairs and entrepreneurship programs were launched to support those affected by the temporary closure and to prepare them for the new opportunities that the resort’s expansion will bring. One obvious need will be more family activity.

We will continue to work with entrepreneurs as we have done with the recent grants to fly-fishermen.

Also, as we are doing with the TDC’s incentives for vacation rentals. The TDC has allocated $1 million and the Bahamas Development Bank $1.2 million to this program.

Overall, the BDB has new funding of $30 million and the TDC has new funding of $20 million and with the SBDC and Venture Fund that means more than $60 million for entrepreneurs. Of course, we will ensure that Exuma gets its share.

Beyond tourism, Exuma’s business community has been a driving force in our economic success.

Our local entrepreneurs continue to innovate and invest in the island, creating jobs and opportunities that benefit us all.

Their dedication to excellence and resilience in the face of adversity are qualities that have helped shape Exuma’s current success.

This is why I have always championed the importance of supporting our local businesses.

We have taken initiatives that provide funding for small and medium-sized enterprises or by fostering a culture of innovation, we have taken concrete steps to ensure that Exuma remains a fertile ground for entrepreneurial growth.

We have seen substantial investments across various sectors, with over $1.5 billion in ongoing projects that will continue to shape Exuma’s future. We are now seeing these projects coming out of the ground.

These include the development of new hotels, resorts, and marinas, which will not only increase our capacity to welcome more visitors but also create opportunities for local businesses to thrive.

For instance, the development of a new resort destination, marina, airport, and golf course on Torch Cay  will represent a $150 million investment in Exuma.

Rosewood, one of the top luxury brands in the world will flag the $250 million development in Sampson Cay. We are also seeing developments on Little Sampson Cay, Big Sampson Cay, and Elizabeth Island, all of which will contribute to the diversification of our tourism product and provide further opportunities for local entrepreneurs.

Infrastructure development has also been a priority for our administration. We recognize that in order to sustain growth, we must invest in the infrastructure that will support it.

The Exuma International Airport, which has been a longstanding project, is finally getting going after overcoming several funding challenges, now funded by the Saudi Fund for Development.

Works on the runways and taxiways are continuing.

Black Point Airport is now out to tender.

Once operational, the new international airport will serve as a critical hub, enhancing our connectivity not just within The Bahamas but also with our international partners.

This will open up new markets and provide Exuma with the infrastructure needed to support increased tourism and business activity.

Not including the $60 million being put into airport terminals, Exuma & Ragged Islands has underway more than $150 million of investment in infrastructure. This is perhaps more than in any other five-year period in the history of the independent Bahamas

The roads in Exuma have been another area of focus.

We have made significant progress in improving our road network, with a total of 30 miles of new roads completed so far. Yes, it appears that the project management can be better. But there will be a little pain until it’s done.

Additionally, Water and Sewerage has substantially completed works in Barraterre and Little Exuma, ensuring that residents in these long-neglected communities have access to potable water.

Now, we recently had a challenge with the Fish Fry where we saw three stalls burn down.

I already pledged my MP’s salary to help rebuild those stalls.

The government will provide additional support as well.

But there was a larger question of a fire truck for Exuma.

Let me be clear that there is a fire truck at the airport but that is for the airport – if it isn’t there, then the international flights can’t land, and we would have another very serious problem of the potential downgrade of our airport.

We do need a fire truck for Exuma, and I know I’m the MP and deputy prime minister, but we all have to  go through the Royal Bahamas Police Force. Sufficed to say, we are working on a plan and I will have more to say in due course.

In the meantime, we recognized that we have a 50-mile-long island. Therefore, my office worked with local government to acquire numerous water bowsers and trailers to place strategically throughout Exuma.

And one is right there in Georgetown.

Let me just say this without getting too deep into it – if we get the fire truck, you have to put water in it.

It can’t work any other way, and I really don’t have the bandwidth as MP and DPM to check to make sure that’s happening.

So, while I work on getting the fire truck. Let’s make sure we put water in the bowsers. Let’s make sure we service them. They have the unique advantage of carrying more water than a fire truck and the durability to pump salt water directly from the sea.

I am happy to report that Bernard Swann and Bradwin Hall have been identified to lead a volunteer fire brigade to bring more focus to the issue of training and maintenance working along with local government. Anyone interested in signing up for training may contact them at TeamCooper’s office.

So, beyond tourism and infrastructure, we must celebrate the resilience of our people.

Our job-readiness programs, entrepreneurship initiatives, and youth development efforts have made tangible impacts.

The opening of the Forbes Hill Cultural Center and the allocation of a part of the $10 million from Saudi Arabia for an incubation center highlights our dedication to empowering local businesses.

The Forbes Hill Cultural Village is a project that is particularly close to my heart.

It represents the intersection of Exuma’s past and future, offering a space where we can celebrate our culture while creating economic opportunities for local artisans, vendors, and farmers.

This project, along with others like the Louise Cooper Scholarship Fund and the Exuma Pride project, are initiatives that seek to invest in our community and ensure that we continue to thrive both economically and culturally.

We’ve also hosted numerous college fairs, job fairs, created a job skills bank, and provided training workshops to help Exumians stay competitive in today’s economy.

In education, we’ve achieved critical milestones with the completion of the new Staniel Cay School and the near-completion of Ragged Island School – we just need to put on final finishing touches, I am told.  it.

Also, the LN Coakley track and field stadium - the Onion Bowl – has been revitalized, providing much-needed sports facilities for our youth.

Through scholarships and partnerships with institutions such as the Qatar Aeronautical Academy, we are ensuring our students have the tools they need to succeed on a global stage, like Brittney Ford a young lady from Ragged Island, a graduate of Exuma, now blazing a trail in the middle east to become a jet pilot.

As we look ahead, we must remain focused on our goals.

Our government is committed to building a brighter, more sustainable, inclusive future for Exuma.

From improving healthcare access, demonstrated by the re-opening of the Ragged Island Clinic and the donation of an X-ray machine to Exuma Health Care Center, to addressing staffing and infrastructural challenges, we are determined to meet the needs of our people.

Ladies and gentlemen, we still face challenges here in Exuma, but I am confident that Exuma is on the right path.

Exuma continues to be the envy of The Bahamas.

And I believe we need to continue to harness the potential of what we have to make Exuma an even brighter example of what progress is possible.

In closing I say as I usually do, the harvest is plenteous, but the laborers are few.

I call on you as conscious citizens to rise to the occasion and volunteer your time and leadership. Run for local government, become a volunteer fire fighter, sign-up for Exuma Pride when we relaunch it, get involved with the AirBNB business, start a business, become a coach or mentor for a child.

Together and with your help, we will continue to build the Future Exuma. The Exuma that will continue to be the envy of The Bahamas and the Caribbean.  

Thank you. God Bless you!