The Tribune

By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

The first-ever Bahamas Charter Show exceeded the number of expected participants by more than 50 percent, organisers have revealed.

Dr Kenneth Romer, the Ministry of Tourism's executive director of product quality and support, told Tribune Business: "This is the inaugural event, so we are really proud. Since Hurricane Dorian we have been looking for ways to diversify the product and the yacht charter experience is a multi-billion dollar industry.

"What we want to do is create a strategic plan around the boating and yachting industry, and see how we can include this as our maritime cruise and yachting business model. We originally had predicted 15 yachts, but we have exceeded that to now 23. We are very pleased with the success and we wish to drive this part of our tourism product in the future."

Peter Maury, the Association of Bahamas Marinas' (ABM) president, said of the event's impact for The Bahamas. "It's jobs. You have all of these boat technicians, electricians, mechanics, air-conditioning, painters and hull washers, and there is a number of vocational support jobs from provisioners to agents," he said.

"The Caribbean has been beating us hands down over the last 40 or 50 years, but in the Caribbean they have to check in to a different country every time. For example, a charter that starts in Antigua and then on to St Thomas, they have to check in every time.

"The advantage for The Bahamas is that these yachts can come to The Bahamas and stay in The Bahamas for up to six months a year at a time, and charter their own cruises around the islands without having to check in like they have to do in the Caribbean," he added.

"These charter opportunities spend a lot of money in the economy for Bahamians - from them going to marinas, food stores and restaurants, as well as keeping people employed."

Basil Smith, the ABM's executive director, said the event was designed to introduce charter brokers to the available yachts, some of which are resident in The Bahamas all the time.

"We really want to stimulate the business," Mr Smith said, adding that he "wants to get a bigger slice of the pie" as The Bahamas is missing out on prime business to other Caribbean countries "outperforming us" despite our "geographic advantage" of being next to the US.

Speaking about the impact the show will have for tourism, Mr Smith said: "It isn't big in numbers, but it is big in comparative value. This inaugural boat charter show is really for charter brokers themselves; those brokers who want to see the yachts that are available for charter and to see the marina and to see the destination itself." He added that some boats are chartered for up to $150,000 a week.