EDITOR, The Tribune
Slowly people are realizing that the biggest economic betterment that has come about in the past 3-4 years is the “service tourist accommodation” the AirBnB service condo-house, etc.
Nassau alone AirBnB has some 2,300 units times 4-beds, means potential of accommodating 9,200.00…units renting from 90-150 plus or more for homes and especially upwards, when beach and swimming pool is included, that hits $2,000.00 plus a day. The beauty of this is Tax Free straight all the way into the bank. The renter pays VAT at source.
Do these create additional employment? Yes, a unit needs maid service at least every other day and at end of rental. Needs maintenance garden, pool, etc., and probably every 6-months a quick paint touch up.
Compare this to Baha Mar, Atlantis or any other hotel! Which puts most money in the hands of a Bahamian? Obviously the AirBnB property owner. Tourism might not admit it, but the boom in the islands, is directly from AirBnB and serviced property 100%.
Very healthy investment….families get together invest especially units in the islands, with airports bringing indirect flights from the USA.
R H ALBURY
July 31, 2019