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Tourism 'Weakens' As Lpia Traffic Off 6.5%


Tribune Business Editor

The Central Bank believes Bahamian tourism industry performance in the 2017 first quarter “weakened” compared to last year, with passenger traffic at Lynden Pindling International Airport (LPIA) down 6.5 per cent.

The regulator, in its March 2017 economic report, said the decline, which is “net of domestic departures”, was likely influenced by timing, as the Easter weekend last year fell in March.

That period, which is widely regarded as the winter tourism season ‘peak’, occurred in April this year, providing a possible explanation for the drop-off in foreign passenger traffic at the Bahamas’ main gateway.

Describing tourism output as “mild”, the Central Bank said: “NAD airport traffic was down over the three-month period.

Mortgage Corp Bonds Eyed To Address 2-3k Housing Waiting List


Tribune Business Reporter

The Ministry of Finance will meet with the Central Bank this week to discuss whether the Bahamas Mortgage Corporation (BMC) can issue more bonds, with between 2,000-3,000 qualified applicants still on the waiting list for low-cost government homes.

Kenred Dorsett, minister of housing and the environment, said yesterday: “The  Ministry of Finance will be meeting with the Central Bank this week to discuss the ability of the Mortgage Corporation to issue more bonds.

“If that happens, certainly we will be constructing more homes. Right now, we are completing homes in the John Claridge Subdivision and the Ardastra Gardens Subdivision. The Bahamia development in Grand Bahamas has reached a point where people should be getting their keys in short order.