AGP Executive Report

Tourism & Climate: Prime Minister Philip Davis told the UN there’s “no uncertainty” in the climate crisis, warning sea-level rise threatens statehood and citing the Declaration on Sea-Level Rise. Financial Services Policy: Government will remove VAT from trust services by end-2026 and also from certain property transfers into trusts, alongside a new Family Office Programme and Bahamas Invest Concierge. Cruise & Marine Growth: MSC celebrated the float-out of the MSC World Atlantic in France; the 2027-delivery ship will sail Caribbean itineraries including MSC’s Bahamas private island Ocean Cay. Superyacht Push: The Bahamas Ministry of Tourism launched “Dock Anchor & Discover” at Monaco Yacht Show to market the country as a superyacht hub, highlighting marinas, FBOs, provisioning and concierge services. Hospitality Leadership: Bahamas Hotel and Tourism Association names Robert “Sandy” Sands interim president after Jackson Weech’s move to Director General of Tourism. Local Industry & Jobs: Massy Group confirmed it’s selling its Caterpillar dealership to MACORP, with assurances for employees and a focus on regional growth. Construction & Community: Govt and the union broke ground on the Patrick S. Bain Subdivision, a nine-home housing project with hurricane-proof features and a nature park. Beach Access Tension: Cabbage Beach vendors say relocation plans are still unclear as development work proceeds and a fence remains a flashpoint.

Hotel & Airport Development: Nassau Airport Development Company is set to select a proponent for a 250-room hotel at LPIA via an RFP, with selection expected early 2027, including two buildings and stormwater detention areas. Cruise & Private-Island Investment: MSC Group broke ground on Sandy Cay (opening 2028) next to Ocean Cay, pitching a more intimate, wellness-led luxury experience; the broader MSC Bahamas push is framed as nearing $1.5bn with major construction and hospitality spillovers. Tourism Leadership: The Bahamas Ministry of Tourism appointed Jackson Weech as Director General, signaling a push to steer tourism growth. Banking & Payments: BankPro partnered with Thredd to power its physical and virtual debit/credit cards, aiming for faster, more integrated card experiences for high-net-worth clients. Environment & Community Tensions: Bahama Rock’s proposed aggregate excavation in Grand Bahama remains at a standstill pending environmental review adjustments after a town hall was “not favorable.” Beach Access & Vendor Fallout: Cabbage Beach vendors say relocation plans ahead of October 1 are still unclear, raising livelihood concerns. Safety on the Ground: A 60-year-old tourist was rescued after rough surf trapped her against a fence at Cabbage Beach, with advocates calling for action on beach barriers. Sports & Events: HBCU football returns to The Bahamas with the YES Bahamas HBCU Football Classic after a decade hiatus. Economic Outlook: The Central Bank forecast 2026 growth will moderately exceed medium-term potential, supported by rising tourism arrivals.

Tourism Leadership: The Bahamas Ministry of Tourism named hotel veteran Jackson Weech as Director General effective Oct. 1, with the BHTA set to appoint an interim president until elections on Dec. 2. Cruise & Construction Jobs: MSC Group broke ground on Sandy Cay (opening planned for 2028) next to Ocean Cay, with the Prime Minister citing near $1.5bn in total MSC investment in The Bahamas and expectations of 600+ construction jobs. Private-Island Expansion: MSC also outlined Ocean Cay upgrades alongside Sandy Cay, reinforcing a two-island strategy for different guest experiences. Cabbage Beach Fallout: Vendors at Cabbage Beach say relocation plans are still unclear as a fence dispute continues ahead of an Oct. 1 deadline, with government saying required notice wasn’t given and fencing must come down. Environment & Industry: In Grand Bahama, Environment Minister Zane Lightbourne says Bahama Rock’s aggregate expansion remains at a standstill pending environmental review adjustments after a town hall was “not favorable.” Banking & Payments: BankPro partnered with Thredd to power its physical and virtual card programs for international private banking clients. Economy Watch: The Central Bank forecast 2026 growth will moderately exceed potential, citing stronger tourism arrivals through July.

Tourism Leadership: The Bahamas Ministry of Tourism has appointed veteran hospitality executive Jackson Alexander Weech as Director General effective Oct. 1, with the Bahamas Hotel and Tourism Association set to name an interim president after his move. Cruise & Private Islands: MSC is pushing ahead with a $400m Sandy Cay development (opening planned for 2028) and Ocean Cay upgrades, while Norwegian Cruise Line shared a first look at its Great Tides Waterpark on Great Stirrup Cay. Visitor Economy Watch: Central Bank data shows July tourist arrivals up 16.8% to 1.2m, led by cruise growth, with August indicators pointing to stronger earnings. On-the-Ground Tensions: Cabbage Beach’s fence dispute escalated again as vendors and protesters clashed over access; a tourist was swept into rough water and rescued. Workforce & Skills: Tourism Development Corporation renews its Junior Achievement partnership to mentor students through a 20-week program. Maritime Registry: Liberia’s ship registry leadership briefed President Boakai, noting Liberia remains the world’s largest registry, including major flags like The Bahamas. Industry Risk Signals: A commentary warns investors against promises of extreme returns, urging caution on high-risk schemes. Tech & Space: SpaceX’s Starship reached orbit for the first time, deploying 26 Starlink V3 satellites.

Cruise & Tourism Investment: MSC broke ground on Sandy Cay, a $400m private island beside Ocean Cay, with construction already underway and a 2028 opening planned; the island targets MSC Cruises and Explora Journeys guests with a quieter, wellness-led, upscale setup, while Ocean Cay gets upgrades too. Tourism Leadership: Jackson Weech was appointed Director General of The Bahamas Ministry of Tourism effective Oct. 1, bringing 35+ years in hospitality and tourism, replacing Latia Duncombe. Public Access & Beach Tensions: Vendors and protesters clashed over new fencing at Cabbage Beach; after a tourist was swept into rough water, calls intensified to remove the fence and protect shoreline access. Aviation & Weather Services Debate: Opposition leader Michael Pintard urged release of the BACSWN deal details, warning proposed airline fees could hit airlift, competitiveness, and Family Island routes. Youth & Entrepreneurship: TDC launched a second-year Junior Achievement partnership, mentoring students through entrepreneurship and financial literacy. Construction Safety: A worker’s sister says he raised safety concerns before a Lyford Cay trench collapse killed him, calling for stronger oversight. Local Economy Pulse: Straw Market vendors returned after a two-day closure for cleaning, with mixed reactions about how thoroughly stalls were handled. Regional Culture: The Mighty Sparrow died at 91, prompting Caribbean-wide mourning.

Tourism Leadership: Jackson Alexander Weech, a veteran hotelier and former Atlantis Royal Towers vice president/general manager, has been appointed director general of the Ministry of Tourism effective Oct. 1, replacing Latia Duncombe. Aviation & Tourism Costs: The FNM is pushing for the release of the government’s BACSWN aviation deal, warning proposed flat overflight fees could raise ticket prices and hurt Family Island airlift. UN Digital Sovereignty: Prime Minister Philip Davis told the UN that small states must control their own data, calling it “colonisation by data,” alongside calls for reparatory justice and an end to the Cuba blockade. Diplomatic Tensions Over DEA Probes: The Ministry of Foreign Affairs has complained to US officials about DEA investigations in The Bahamas without Bahamian government consent, citing cases involving Jonathan Gardiner and Elvis Curtis. Haiti Security Push: OAS member states, including The Bahamas, urged the UN Security Council to renew Haiti’s Gang Suppression Force mandate with full funding and deployment support. Maritime Disruption: Nor’easter weather is reshuffling cruise schedules, including Carnival Sunshine’s one-day delay and rerouted Bahamas itinerary. Local Business Pressure: Cabbage Beach vendors protest renewed fencing and relocation letters, warning public access and livelihoods are at stake. Energy & Reliability: Bahamas Power and Light outages continue to disrupt residents, with Eleuthera and New Providence hit hard.

Tourism & Hospitality Deal: CARICOM Private Sector Organization (CPSO) congratulated Sandals Resorts and Royal Caribbean Group on the landmark partnership: Royal Caribbean to buy a 50% stake in Sandals and Beaches for about US$3bn, with a close expected in early 2027—seen as a major boost for regional airlift and supply chains. UN Policy & Digital Sovereignty: Prime Minister Philip Davis defended The Bahamas at the UN General Assembly, warning against “colonisation by data” and calling for digital sovereignty, alongside climate action and multilateralism. Energy Reliability: Power outages continued to disrupt businesses and services, with Eleuthera hit hard; one hospital reported higher operating costs and limits on diagnostic equipment while relying on generators. Local Tourism Friction: Vendors protested fencing and access changes at Cabbage Beach, saying promised relocation sites can’t absorb them and that the dispute is spilling into visitor experience. Maritime/Weather Disruptions: Nor’easter impacts kept cruise schedules shifting, including Royal Caribbean rerouting to Nassau and Grand Bahama and Carnival Sunshine delaying a Norfolk return and shortening a Bahamas itinerary. Industry Safety & Construction: Two men were identified after a deadly Lyford Cay trench collapse at a construction site, renewing calls for stronger workplace protections. Maritime Security: The Bahamas Wildlife Enforcement Network (BahWEN) soft-launched its new headquarters, expanding centralized operations, intelligence, and training. Aviation/Travel Costs: U.S. Global Entry fee changes are pushing travelers toward free alternatives like Mobile Passport Control to avoid customs lines.

Cruise Disruptions: Carnival Sunshine’s Norfolk return was pushed one day to Monday, Sept. 28, after a nor’easter forced speed reductions and a revised Bahamas-focused itinerary. New Bahamas Calls: Carnival Jubilee made its maiden visit to Celebration Key, with the ship now alternating Bahamas sailings that also include Nassau and RelaxAway, Half Moon Cay. Next-Gen Cruise Planning: Cruise coverage highlights Carnival Tropicale’s 2028 maiden season from Galveston, featuring multiple 8-night Bahamas departures to Celebration Key, Nassau and RelaxAway, Half Moon Cay. Hospitality Deal Watch: Royal Caribbean agreed to buy a 50% stake in Sandals and Beaches Resorts for about US$3 billion, a move that could reshape Caribbean travel by linking cruise and land stays. Local Tourism Tension: Vendors protested fencing and relocation plans at Cabbage Beach in Nassau, warning public access and livelihoods are at risk. Energy Strain on Islands: Eleuthera businesses and a local hospital reported major impacts from prolonged BPL outages, while residents also face recurring water and power problems. Blue-Energy Push: The Bahamas is exploring ocean thermal energy conversion (OTEC) with a feasibility study aimed at powering electricity and supporting data-centre cooling. Governance & Data: At UNGA, PM Philip Davis warned of “colonisation by data,” calling for fair AI and data regulation that protects small states. Maritime Security: BahWEN opened its new headquarters, strengthening centralized operations, intelligence and training for wildlife protection.

Bahamas–Ghana Trade Push: Ghana’s Caribbean envoy and Bahamas Trade Commission leaders are driving new links through a showroom and an African-Caribbean trade corridor, aiming to connect tourism, agriculture, manufacturing, fashion and design. UN & Data Sovereignty: At UNGA, PM Philip Davis warned of “colonisation by data,” calling for fair AI rules and stronger voices for small states. Haiti Security Mandate: OAS member states, including The Bahamas, urged the UN Security Council to renew Haiti’s Gang Suppression Force mandate with sustained funding and support. Cabbage Beach Vendor Fight: Vendors protested renewed fencing and relocation letters tied to a major development, saying promised alternative sites can’t absorb them. Construction Fatality in Lyford Cay: Two men died after a trench collapse at a construction site, renewing calls for stronger workplace safety. Eleuthera Power/Water Strain: Prolonged BPL outages and water supply problems forced businesses to cut back and hospitals to defer services. Blue Carbon Plan: Davis announced a $25m national blue carbon programme to measure and protect seagrass for climate reporting and future emissions transfers. OTEC Feasibility Study: Global OTEC was named lead technical partner for an EU-backed study on ocean thermal energy conversion, with possible data-centre cooling benefits. Aviation Fees Under Fire: Airlines for America objected to proposed Bahamian overflight fees, warning they could be excessive and harm carriers. Sandals–Royal Caribbean Deal: A landmark JV will see Royal Caribbean buy a 50% stake in Sandals and Beaches for about $3bn, with closing expected early 2027.

Tourism & Culture: Antigua and Barbuda is leaning into a new “dating tourism” angle with Love Link Caribbean, a reality dating series filmed across the islands and set to premiere on YouTube Sept. 30—an attempt to sell the experience of meeting, not just honeymoons. Climate & Policy: At the UN General Assembly, Bahamas PM Philip Davis warned sea-level rise is a present reality that “does not negotiate,” while leaders pushed for climate finance that reflects justice, not charity. Cruise Industry: Royal Caribbean’s landmark $3bn move—buying a 50% stake in Sandals and Beaches—signals a major shift toward vacation branding, with closing expected early 2027; meanwhile, Norwegian’s Bahamas sailings and cruise booking timing are being framed around Great Stirrup Cay’s upgrades. Local Governance & Safety: Vendors protested renewed fencing at Cabbage Beach over public access and livelihood impacts, as families and visitors feel the fallout. Workplace & Infrastructure: Two men died after a trench/ground collapse at a Lyford Cay construction site, while Eleuthera businesses and a hospital reported disruptions and higher costs from prolonged BPL outages. Energy & Investment: The Bahamas is exploring ocean thermal energy conversion (OTEC) with a feasibility study aimed at power plus cooling benefits for potential data centre investment; VAT changes on uncooked food are also being blamed for weakening business incentives to invest in renewables. Aviation Costs: Airlines for America objected to proposed Bahamian overflight fees as excessive and duplicative, warning private aviation could decline. Wildlife Enforcement: BahWEN soft-launched its new headquarters, adding a centralized base for operations, intelligence and training. Health & Business: Ocugen received provisional approval and priority designation in The Bahamas to supply OCU400 via an expanded access program for retinitis pigmentosa. Trade Links: Ghana’s envoy to the Caribbean pushed for deeper business ties with the Bahamas, including agriculture, manufacturing, fashion and tourism.

UNGA Diplomacy: PM Philip Davis used his UN General Assembly remarks to push back on “spheres of influence,” arguing small states must be truly sovereign and calling for stronger Africa–Caribbean infrastructure links. Haiti Security: The UN is spotlighting a new push to contain Haiti’s gang violence, with a U.N.-backed Gang Suppression Force ramping up after earlier missions struggled. Tourism Dealmaking: Royal Caribbean agreed to buy a 50% stake in Sandals and Beaches for about US$3bn, a major Caribbean tourism power shift expected to close in early 2027. Energy & Cost Pressure: Eleuthera businesses and a local hospital reported disruptions from prolonged BPL outages, while a VAT change on uncooked food is being blamed for hurting energy-efficiency investment plans. Renewables & Data Centres: Government-backed studies are exploring ocean thermal energy conversion (OTEC), including potential cooling benefits for data centres, plus a $25m blue carbon programme focused on seagrass. Aviation Fees: U.S. airline group Airlines for America says proposed Bahamian overflight fees are “unjustified” and could reduce private aviation. Wildlife Enforcement: Bahamas Wildlife Enforcement Network opened a new headquarters, boosting centralized operations and training. Safety & Construction: Two men died after a trench collapse at a Lyford Cay construction site. Animal Welfare: Bahamas Humane Society leadership changed, with Lissa McCombe-Pinder taking over and pledging expanded services.

Energy & Industry: The Bahamas is exploring ocean thermal energy conversion (OTEC) with Global OTE as lead technical partner for a feasibility study, looking at power plus seawater reverse osmosis, district cooling and data-centre cooling links. Renewables & Climate: A UN General Assembly resolution on sea level rise passed unanimously, with Bahamas PM Philip Davis calling it a boost for action as islands face existential threats. Tourism & Investment: CARICOM’s private sector group hailed Royal Caribbean’s $3bn move to buy a 50% stake in Sandals/Beaches as a “defining moment,” while local voices question whether cruise operators can run hotels well. Cruise Economy: Carnival is pushing its new Carnival Rewards loyalty program with limited-time bonus points for cruisers, and Royal Caribbean drink pricing is under the microscope as dynamic package costs vary by sailing. Finance & Compliance: Former AG Ryan Pinder KC urged centralising financial services regulation and compliance into one authority ahead of FATF evaluations, while government moves to remove VAT on trust services and certain property transfers into trusts to boost competitiveness. Maritime & Security: BahWEN soft-launched its new headquarters and training hub in Nassau, strengthening wildlife enforcement capacity. Workplace Safety: Two men died after a trench/foundation collapse at a construction site in Lyford Cay, New Providence. Aviation Costs: Airlines for America challenged proposed Bahamian overflight fees as unjustified and excessive. Health & Pharma: Ocugen received provisional approval and priority designation to supply OCU400 for retinitis pigmentosa patients in The Bahamas via an expanded access program. Trade & Branding: Ghana’s presidential envoy visited Nassau to expand Africa-Caribbean trade, tourism and investment, including through a new Afri-Caribbean showroom. Local Economy Debate: A new “rot economy” critique argues Grand Bahama’s big investment announcements aren’t translating into lasting household prosperity.

Bahamas Wildlife Enforcement Network: The new BahWEN headquarters at #6 West Bay Street soft-launched with a training hub and centralized operations, as National Security Minister Myles LaRoda said officers will deter poachers, traffickers and illegal loggers. Energy & Utilities: A prominent developer says new grid connections via Bahamas Grid Company have turned into “an absolute flippin’ nightmare,” with approvals now taking months instead of weeks after T&D responsibilities were split. Wealth Management Policy: Economic Affairs Minister Jerome Fitzgerald announced VAT removal on trust services and on certain property transfers into trusts for family beneficiaries by year-end, aiming to boost The Bahamas’ competitiveness for family offices and succession planning. Financial Services Regulation: Former AG Ryan Pinder urged centralizing compliance regulation into a single authority/portal ahead of upcoming FATF evaluations. OTEC & Investment: Global OTEC and partners were selected to study OTEC feasibility for Bahamas power, desalination and data-centre cooling, backed by EU support. Climate Diplomacy: The UN approved its first sea-level rise declaration, with PM Philip Davis calling it a rare multilateral win for low-lying island states. Tourism & Travel Trade: Royal Caribbean’s $3bn deal for a 50% stake in Sandals/Beaches drew local scrutiny, while Ghana’s Presidential Special Envoy King Kwasi Kyei Darkwah visited to push Ghana–Bahamas trade, investment and tourism ties. Maritime Cyber Resilience: Stakeholders met to strengthen inter-institutional cyber-resilience for Bahamas maritime and logistics infrastructure.

VAT & Wealth Planning: Economic Affairs Minister Jerome Fitzgerald says VAT will be removed from trust services and from certain property transfers into trusts by year-end, aiming to make The Bahamas more attractive for family offices and succession planning. Housing Cost Pressure: Opposition senator Arinthia Komolafe warns a new 5.25% VAT interest charge on late real estate VAT payments could make homeownership harder, arguing the penalty ignores how transactions actually work. Tourism Leadership: Valery Brown-Alce named Acting Director General of Tourism, Investments & Aviation for one week as Latia Duncombe exits, with a permanent appointment due Oct. 1. Energy & Data Centres: Global OTEC and PLOCAN selected to study ocean thermal energy conversion potential in The Bahamas, including links to water supply and data centre cooling. Solar Economics: URCA says residential solar PV must cost about $3 per watt or less to deliver competitive returns; higher costs risk weak investment performance. Construction Supply Risk: Heroic Concrete urges a national strategy to diversify aggregates as Bahama Rock’s mining halt raises fears of project delays and higher costs. Power & Labour Tensions: BPL reports another outage tied to a lightning strike, while it fires two workers and suspends union president Kyle Wilson amid an overtime dispute. Cruise & Resorts: Royal Caribbean’s $3bn, 50% stake in Sandals/Beaches is framed as a major boost for Exuma’s Beaches redevelopment. AI Policy: Minister Sebastian Bastian pushes for practical AI and disaster-resilience tools small states can access and sustain. Sports & Culture: Bahamian “Bowflex Barbie” Dekel Quant heads to the Joe Weider’s Olympia in Las Vegas; Buddy Hield is traded to the Charlotte Hornets.

Cruise & Resorts Deal: Royal Caribbean confirmed a $3bn investment for a 50% stake in Sandals, valuing the operator at about $6bn and setting up a cruise-plus-all-inclusive joint venture expected to close in early 2027—Sandals’ footprint includes the Bahamas. Tourism Demand Watch: Out Island resorts report November bookings down about 10 points as travellers feel “uneasy,” though Christmas/New Year looks steadier. Energy & Power Reliability: BPL says a lightning strike at Blue Hills triggered a widespread New Providence outage, restoring service by late morning; meanwhile, a banker says government should fix its own VAT and process delays before penalising businesses. Solar Economics: URCA says residential solar must cost about $3 per watt or less to deliver returns competitive with other investments. Construction Supply Risk: Heroic Concrete urges a national strategy to diversify aggregates as Bahama Rock’s halt raises fears of higher building costs. Education Staffing: Government says 100 teachers will soon join the system as union talks move toward final drafts. Digital Resilience: Innovation Minister Sebastian Bastian pushes for small states to get early access to AI and disaster tools, not after solutions are built. Maritime Cyber: Ports workshop focuses on strengthening cyber resilience for Bahamas logistics.

Education Staffing: Chester Cooper says 100 new teachers will soon join the system as the ministry works through shortages that also left some schools without principals or vice principals. Power Reliability: Bahamas Power and Light blamed a lightning strike at the Blue Hills power station for another major New Providence outage, with service restored after damage assessment. Ocean Energy & Data Needs: Global OTEC will study ocean thermal energy conversion in The Bahamas to support future ocean-energy options for data centres and water supply. Hospitality & Tourism Investment: Royal Caribbean agreed to buy a 50% stake in Sandals Resorts for US$3bn, while Atlantis Paradise Island announced star-studded New Year’s plans for 2027. Construction Supply Risk: Heroic Concrete warned The Bahamas needs a national strategy to diversify aggregate supply as Bahama Rock’s Grand Bahama operations face regulatory uncertainty. Maritime Cybersecurity: A ports-focused cybersecurity workshop is underway to strengthen resilience against attacks that could disrupt trade and national security. Airlift Expansion: Aeroméxico will launch nonstop Mexico City–Nassau service in March 2027, boosting Latin America connectivity. Consumer Protection: Inspectors are training to strengthen price enforcement as 15 of 17 price-control cases pleaded guilty. Sports: Bermuda’s North American Cup schedule was reshuffled due to severe weather in Cayman, with Bahamas set to play in a double-header.