NASSAU, BAHAMAS — Deputy Prime Minister Chester Cooper yesterday urged critics to stop disparaging the economy and the country’s tourism sector, calling out a circulating video warning of supposed dangers in The Bahamas this winter season as “reckless and irresponsible.”
While supporting the Domestic Top-Up Tax Bill during his contribution to the debate on the legislation, Cooper addressed the video circulating on social media with misleading claims about safety in the Bahamas.
Cooper stated: “This video is a disturbing and misleading mishmash of earlier coverage and is not being carried by any legitimate US news station. It is evident this was crafted for political purposes, not to inform, but to discredit our nation’s reputation and mislead prospective visitors. What is most troubling about this is that our intelligence suggests that this was done by Bahamians.
“What kind of Bahamian, for political or whatever reasons, is willing to hurt their own economy and the livelihoods of their very families for cheap political points? We spent considerable resources, almost $10 million in fact, managing the impact of that bad press earlier this year. We are at the start of what promises to be a record-breaking winter season, with bookings on pace to exceed our previous years. To anyone who had a hand in creating or promoting or circulating this video, let me be clear: this is a fool’s errand.”
He continued: “Jeopardizing our number one industry for political gain is as reckless as it is irresponsible. It is, in effect, biting the hands that feed you. Tourism is the economic lifeblood of The Bahamas. And notwithstanding our best efforts to diversify, it will continue to be so in all of our lifetimes. It supports thousands of families, fuels our businesses, and sustains entire communities.
“For any political actor to attempt to shame the government of the day by undermining the single most important sector in our economy shows disregard for the welfare of Bahamian families and is, frankly, unpatriotic and un-Bahamian. When we aim for the tourism industry, we hurt our entire nation. This video is not the only concerning instance of negativity on social media and public commentary.”
Cooper also criticized a trend of dismissive and cynical comments about new tourism projects.
“FDI continues to be the fastest way to grow the economy. Some of these critics are quick to dismiss every new development as unnecessary or unlikely to benefit Bahamians, and some even claim – wrongly – that our stopover visitors are in decline. This is simply not true. The truth is that visitor arrivals are on the rise, including stopover arrivals, and interest in The Bahamas as a world-class destination remains stronger than ever.
“While stopover growth is constrained by lack of room inventory, in 2023, it was the best year ever in the history of The Bahamas, and 2024 is up over 2023. So, I wish that would-be responsible people would cease from spreading this falsehood. To be blunt, some of these complaints are simply delusional. Every hotel, every new attraction, and every visitor brings vital revenue to our country, creates jobs, and allows countless Bahamians to support their families.”
Addressing the Domestic Minimum Top-Up Tax (DMTT) Bill, Cooper emphasized that this is not a tax on Bahamian-owned businesses or ordinary Bahamians.
“It applies solely to large multinational enterprises, those that meet an extremely high revenue threshold of 750 million euros – about $818 million – annually. Very few businesses in The Bahamas even come close to meeting that bar,” Cooper explained.
He added: “This bill targets massive multinational corporations – those that benefit from doing business here but have found ways to minimize their tax obligations across various jurisdictions. In effect, we are getting our share of taxes that they would pay anyhow. With this legislation, we’re ensuring that these entities contribute their fair share to our economy, rather than allowing their profits to flow out of The Bahamas without benefiting the communities in which they operate. It’s worth noting that under this bill, The Bahamas will retain tax revenue on profits that, without this measure, would be scooped up by foreign tax jurisdictions.”
Cooper noted that without the DMTT, these profits could be subjected to top-up taxes elsewhere, meaning The Bahamas could lose revenue that belongs to Bahamians.
“This protects our tax base and ensures that we, as a country, are not left behind as the world advances in establishing fair tax standards for global enterprises. It could also help us further grow the tax base. This legislation also allows us to advance our incentive regime, which should encourage headquartering in The Bahamas,” said Cooper.
