NASSAU, BAHAMAS — Deputy Prime Minister and Minister of Finance K Peter Turnquest yesterday maintained that the fundamentals of the economy are ‘very strong’ despite the ‘interruption’ of COVID-19.
While addressing the Citizen Exchange forum, Turnquest said, “We believe that towards the end of this year and the beginning of next year we will see some level of return in our travel and leisure industry not only here in The Bahamas but also globally as we figure out the protocols that we are going to use to live with this virus, even as we wait for a vaccine.
“That may change the profile of what our tourism industry looks like in terms of the focus being more on low density, more eco- friendly type vacations rather than the big hotel.”
Turnquest said government is also of the view that the financial services industry will remain stable although there many be some ‘consolidations’.
“We believe the investment in agricultural and the digital economy is going to pay dividends in the medium to long term,” said Turnquest, adding that the country also has a ‘good stock’ of investments in the pipeline.
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