Royal Caribbean exec: Investments will boost GDP by $12 bil.

Royal Caribbean International’s (RCI) investments in The Bahamas will lead to a $12 billion increase in the country’s gross domestic product (GDP) over 25 years, the company’s Vice President of Governmental Affairs Russell Benford said on Friday.

Benford, who spoke at a ceremony commemorating the arrival of RCI’s Adventure of the Seas in Grand Bahama on its first home port voyage in The Bahamas, said over the next 25 years, the government could realize $2.1 billion in revenue.

He added that as a result of RCI’s planned redevelopment of Freeport’s cruise port and the Grand Lucayan resort complex, Grand Bahama will have 250 additional cruise ship visits per year, translating into more than 1.5 million cruise passenger visits.

“Our initial investment is in the hundreds of millions and will boost the Bahamian economy over the next 25 years and beyond,” Benford said.

“These projects also include employment opportunities for hundreds of Bahamians and once these projects are complete, they will generate thousands of jobs for people in Grand Bahama.”

Minister of State for Grand Bahama Kwasi Thompson, who also spoke on Friday, called on RCI to consider permanently using The Bahamas as a home port. He praised RCI for its decision to restart cruising in the region through The Bahamas.

“I have never been more hopeful and optimistic abut the future of Grand Bahama than I am today,” said Thompson.

Keynote speaker at the event, Prime Minister Dr. Hubert Minnis, said The Bahamas’ economic success depends on the success of Grand Bahama. He said tours and excursions have been developed on Grand Bahama, specifically for Adventure of the Seas guests who will be visiting the island over the course of RCI’s home porting initiative.

RCI is completing steps to develop a beach club on the western end of Paradise Island, which Benford said will attract two million cruise passengers per year.

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source https://thenassauguardian.com/royal-caribbean-exec-investments-will-boost-gdp-by-12-bil/