PM Minnis inaugurates Margaritaville Beach Resort at Pointe

Bahamas: Prime Minister of The Bahamas Hubert Minnis inaugurated the Margaritaville Beach Resort at The Pointe on 21st July 2021, one of the significant developments in the transformation of downtown Nassau. Office of the Prime Minister of Bahamas stated that the Pointe includes the Margaritaville Beach Resort with 155 hotel rooms & the Fins-Up Waterpark with a 1,000-ft long lazy river, water slides & a surf simulator. The property also features a grand ball room, meeting rooms, restaurants, a marina, residences, and retail space."Facilities are accessible to Bahamians and visitors," it added. [caption id="attachment_36187" align="alignnone" width="100%"] Margaritaville Beach Resort at The Pointe[/caption]300 Bahamians are currently employed at The Pointe, with 150 more to be hired in the months ahead, said the PM Minnis.“Just as The Bahamas is coming back, the City of Nassau and the Nassau Waterfront are coming back,” noted the PM Minnis. “The historic City of Nassau and downtown are being transformed before our very eyes.”GDP in the Bahamas is expected to reach 12.60 USD Billion by the end of 2021, as per the Trading Economics global macro models and analysts expectations. In the long-term, the Bahamas GDP is projected to trend around 12.80 USD Billion in 2022, according to our econometric models.[caption id="attachment_36189" align="alignnone" width="100%"] PM Minnis inspecting view[/caption]In addition, The Bahamian economy will struggle to recover from the impact of the coronavirus pandemic, which began on the heels of Hurricane Dorian (2019). The island’s COVID-19 vaccination drive was slow to start and has progressed only modestly; this will halt a full reopening of tourism—on which the economy is excessively dependent—in 2021-22 forecast period, also the economy will strive to return to pre-pandemic levels of real GDP amid this time.[caption id="attachment_36188" align="alignnone" width="100%"] Photo shared by Bahamas PM[/caption]Moreover, The Bahamas is projecting a 14.1 % increase in GDP at current prices for FY2021/22, with its Acting Financial Secretary Marlon Johnson positing that by that the economy will regain 80% of its pre-COVID capacity by June 2022 with crucial taxes forecast to rise by a similar magnitude.