NASSAU, BAHAMAS — The Tourism Development Corporation (TDC) is making a major push to revitalize and reinvigorate the Bay Street experience, a top executive said yesterday, while noting that efforts to establish an authentic Bahamian retail experience to take advantage of the cruise passenger traffic in the downtown area are underway.
Ian Ferguson, executive director of the Tourism Development Corporation while speaking at an Office of the Prime Minister (OPM) press briefing yesterday noted that the TDC aims to offer a ‘lifeline’ to small and medium-sized businesses in the tourism sector.
“We have recently begun renovation on the pilot phase of our incubation center,” Ferguson said.
“It’s going to be east of Bay Street and Rawson Square. We are in a major effort to revitalize and reinvigorate the Bay Street experience; driving so much of that 30,000 plus cruise passengers per day to traverse that area. We don’t want them to be disappointed but to find something exciting to see, do and purchase.”
He added, “This is going to enhance the authentic Bahamian retail experience. Everything that is indigenous to us in retail, that which truly represents us is going to be represented in those kiosks style incubations spaces we have there.”
Ferguson also noted that a $10 million loan has been secured from The Saudi Fund for Development to be used to develop incubation centers in Nassau, Grand Bahama and Exuma.
The arrangement was announced in Parliament by Deputy Prime Minister Chester Cooper during his budget communication earlier this week.
