Dear Editor,
As we peer into the horizon of The Bahamas’ economic destiny, there is one island whose potential stands out as the single most transformative asset in our national portfolio: Grand Bahama. With the right reforms, Grand Bahama can evolve into the cornerstone of a ‘Smart Island’ in a ‘Smart Country’—paving the way for The Bahamas to surpass a $100 billion GDP within the next two decades. But to achieve this, we must take bold, immediate action, beginning with the strategic restructuring of the Grand Bahama Port Authority (GBPA) and reimagining governance in Freeport/Lucaya.
Strategic Reform: A Modern Economic Operating System for Freeport
To unleash Grand Bahama’s full potential, we must decouple asset ownership from the regulatory, licensing, governance, and management functions currently held by the Grand Bahama Port Authority (GBPA). These overlapping roles have long been a barrier to innovation and competitiveness. By transitioning asset management to a public-private infrastructure trust and transferring regulatory authority to an independent body, we will invite transparency, competition, and global investment.
Alongside this separation, Freeport/Lucaya must be empowered with guided autonomy under an elected leadership structure. This governance model would include a centralized, streamlined “one-stop shop” decision-making hub, allowing for swift licensing, permitting, and approvals that meet the expectations of today’s investors and entrepreneurs.
A New Municipal Identity: Freeport as an Exclusive Economic Zone (EEZ)
To accelerate this transformation, many Grand Bahamian thought leaders agree and propose relocating the current local government structures outside the Freeport area. This would enable Freeport to evolve into a fully municipal-based Exclusive Economic Zone (EEZ), encapsulating the Hawksbill Creek Agreement while providing a legislative and economic basis for its extension beyond 2054. This evolution gives Freeport the flexibility to operate as a smart, high-performance urban economy with global competitiveness.
Building a Smart Island: Homes, Businesses, Communities, Cities
This restructured Grand Bahama can become the foundation of a digitally integrated, sustainable Smart Island. Envision:
Smart Homes: Powered by renewable energy, connected by IoT, offering secure, affordable housing.
Smart Businesses: Leveraging AI, blockchain, and automation to thrive in FinTech, TradFi, and tokenized finance.
Smart Communities: Built with resilience and equity, promoting circular design and inclusive growth.
Smart Cities: Where Tech meets Tourism, and infrastructure is proactive, not reactive.
In short, Grand Bahama becomes the blueprint of a Smart Island in a Smart Country.
Hospitality as a Subscription & Tourism as a Service
In this future, “Hospitality as a Subscription” (HaaS) and “Tourism as a Service” (TaaS) will be key economic drivers. By integrating housing and tourism infrastructure into a seamless economic model, we can combat the housing affordability crisis—not just for Grand Bahama but for the entire Bahamas—with recurring revenue from multiple destination experiences. Whether through wellness retreats, cultural hubs, digital nomad villages, or eco-resorts, Grand Bahama alone offers dozens of build-ready concepts that can be executed instantly, providing jobs, homes, and economic stimulus all at once.
The Multi-Economy Model: The Future of Grand Bahama’s Prosperity
To catalyze such a transformation, Grand Bahama must embrace a multi-economy model that includes:
Digital, Conceptual, Knowledge-Based, and Data Economies
Green, Blue, Ocean, and Aquamarine Economies
Orange (Creative), Circular, and Climate Economies
Crypto, Tokenization, and Blockchain Economies
AI, Gig, Passion, Shared, and Platform Economies
Silver (Aging Population) and Energy Economies
Each of these sectors represents a unique lane of growth. Combined, they form the engine of a mixed economy capable of producing exponential value creation.
Technology-Driven Growth Across Sectors
This evolution will integrate the most transformative verticals in modern commerce and governance:
FinTech, PropTech, RegTech, SupTech, HealthTech, EdTech, AgriTech
GovTech, InsurTech, LegalTech, MedTech, Biotech
DataTech, TravelTech, TradFi, and ProcureTech
Together, these technologies represent not just innovation but a complete redesign of how a 21st-century island economy can operate—more efficient, more inclusive, and infinitely more scalable.
Conclusion: A New Bahamas Starts in Grand Bahama
Grand Bahama is not just an economic asset—it is the launchpad of a new Bahamian civilization. With courageous governance reform, forward-thinking leadership, and decisive public-private collaboration, we can transform Grand Bahama into a globally respected Smart Island. This transformation will not only restore investor confidence and create tens of thousands of jobs, but will also provide the economic lift needed to propel The Bahamas past the US$100 billion milestone, delivering prosperity, stability, and legacy to future generations.
Let us seize this moment with vision, urgency, and resolve.
Sincerely,
C. Allen Johnson
Freeport, Grand Bahama
Advocate for a Decentralized and Inclusive Bahamian Future
