Dear Editor,
Thank you in advance for allowing a native Grand Bahamian to share my opinion. The Bahamas stands at a critical juncture, facing twin challenges: a deepening affordable housing crisis and the urgent need to expand our world-class tourism and hospitality offerings. Grand Bahama, uniquely positioned with its deep-water port, soon-to-be-built international airport, robust utility infrastructure, and vast land reserves, offers the most compelling solution and a beacon of opportunity. It possesses the inherent capacity to simultaneously deliver essential mixed-income housing and dynamic new tourism experiences—reigniting the economic magic it once embodied over two decades ago.
To realize this ambitious vision at the necessary scale, we must adopt a forward-thinking, inclusive policy framework.
While acknowledging the short-term need for specialized foreign expertise in advanced construction, project management, and emerging technologies, this expertise must serve as a catalyst for permanent local empowerment. The key is embedding structured knowledge transfer into every major development: mandatory “train-the-trainer” programs and on-site apprenticeships within development agreements. This ensures international partners actively equip Bahamian and Grand Bahamian workers—especially those already skilled in hospitality, tourism, industry, and construction—to master cutting-edge methods and sustainable design, becoming the leaders of tomorrow.
Building on this foundation of empowered local talent, I propose three interlocking policy pillars designed to ensure growth is equitable, sustainable, and community-owned:
First, Democratizing Capital Access for Local Ownership in the Housing & Hospitality Industry, by establishing innovative, Bahamian-owned investment vehicles such as community development financial institutions (CDFIs), tokenized real estate funds, equity cooperatives, and other creative financial models. These will strategically mobilize dormant local and diaspora capital (“lazy money”) into impactful mixed-use developments that seamlessly integrate affordable housing, boutique hotels, and vibrant cultural hubs and centers. These vehicles would be structured to ensure inclusive ownership by offering modest minimum investments coupled with market-rate returns, truly democratizing ownership and guaranteeing that investment benefits circulate within and strengthen our communities.
Secondly, we must Mandate Engagement & Irreversible Skills Transfer by enforcing genuine stakeholder consultation. We should legally require all large-scale developments to implement robust, transparent engagement processes, including public hearings, resident and small business stakeholder councils, environmental impact consultations, and regular, accessible progress reporting. We must contractualize knowledge transfer by embedding obligations within development agreements that compel foreign contractors to partner with Bahamian firms, provide on-site apprenticeships, and deliver accredited training workshops. This guarantees the tangible transfer of cutting-edge skills and technologies, building irreversible local capacity.
Thirdly, we must embed Equity for Shared & Lasting Prosperity by reserving a meaningful ownership stake (equity tranche) within each major project specifically for historically marginalized and underrepresented groups: women entrepreneurs, young professionals, and residents of under-invested neighborhoods. This access could be facilitated through mechanisms like low-entry tokenized offerings, co-ownership LLCs, or profit-sharing trusts. This intrinsic alignment of incentives ensures that as tourism revenues rise, they become fuel for reinvestment into our communities. Our communities would then directly share in the prosperity, fostering local investment, responsible asset stewardship, and the creation of intergenerational wealth.
Grand Bahama’s unparalleled convergence of existing infrastructure, untapped workforce potential, and abundant land makes it the ideal proving ground for this holistic, inclusive model. By strategically leveraging foreign expertise solely as a catalyst for permanent local capacity building—and embedding principles of inclusion and shared ownership at every stage, from capital formation and project execution to skills development and community ownership—we can decisively restore Grand Bahama’s legacy as the “Island of Magic.” We can transform it into a place where sustainable prosperity, once the norm, becomes the undeniable reality once more.
Our time for decisive action is now. Let us craft bold economic policies that unlock the power of localized Bahamian capital, mandate genuine community engagement and irreversible skills transfer, and broadly distribute the tangible benefits of ownership. In doing so, we will not only solve the pressing challenges of housing affordability and tourism expansion but, more importantly, empower Bahamians—and especially Grand Bahamians—to lead and own the next thriving chapter of their island’s resurgence.
Hopeful,
Brian Smith
Albuild Hardware, T&N Construction, and President of the Grand Bahama Contractors Association
