Dear Editor,
The Bahamas is facing a problem that many do not want to name: “The Enshittification of Paradise: Banking, Finance, Hospitality, and Tourism and Their Failing of the Bahamian People.”
This pattern is simple: at first, systems are built to serve people. Then, they are reworked to squeeze profit. Finally, they break down, leaving little benefit for the people they once served. That is where we are today.
Banking once gave Bahamians access to credit and personal service. Today, many face high fees, fewer branches, and closed accounts. Thousands of citizens are now unbanked and forced to rely on remittance services, webshops, payday loans, predatory private lenders, or pawnshops.
Financial services once brought pride and opportunity. Today, constant demands from groups like the OECD and FATF have stripped the sector of vitality. Other countries now lead and excel in innovation, while Bahamians are left with, from an innovation-cycle perspective, little more than low-level clerical work—often dressed up with elaborate-sounding titles.
Hospitality once reflected the warmth and character of our people. Now, cruise lines and mega-resorts dominate. Profits leave the country, and locals are locked into low-wage roles with no ownership.
Tourism once promoted the uniqueness of these islands. Now, the focus is on volume, not value. Our natural resources and culture are under strain, and we risk losing what made The Bahamas special in the first place.
Regardless of the elaborate linguistic gymnastics employed by Bahamian leaders, the reality is clear: this situation cannot be described as growth. It reflects a profound decline.
We must act now. Bahamians need digital banks and financial platforms that we own and control. We need a financial services sector based on creativity, not just compliance. We need hospitality and tourism ventures where Bahamians hold equity—not just jobs. We need an economy where opportunity, ownership, and benefit rest with the people. Above all, what we truly require is visionary leadership that can clearly identify and comprehend the extensive decline we have experienced over the past several decades. This leadership must not only acknowledge these challenges but also demonstrate the skill and insight necessary to develop a comprehensive and pragmatic plan tailored for the 21st century—one that aims to reverse this troubling trend and pave the way for revitalization and progress toward a more promising future.
Bahamians desire and urgently need an “Opportunity and Ownership Economy Model” that includes all Bahamians. If we do nothing, The Bahamas will remain a paradise for outsiders but a plantation for Bahamians. The time has come to decide: will we keep being passengers on someone else’s ship, or will we take the helm of our own future?
Sincerely,
Eden Merry Johnson
