The Bahamas Partners With SpaceX

News Americas, NASSAU, Bahamas, Weds. Feb. 21, 2024: The Ministry of Tourism, Investments & Aviation of The Bahamas has made a historic move by partnering with SpaceX, the renowned space exploration company by billionaire Elon Musk, to usher the nation into the age of space technology and tourism.

This collaboration, encapsulated in a Letter of Agreement, aims to make The Bahamas a prime location for observing the awe-inspiring spectacle of SpaceX booster landings. SpaceX is in the process of designing missions that will utilize an autonomous droneship positioned east of The Exumas as a landing pad for its Falcon 9 rockets.

This initiative promises to make The Bahamas the only place in the world where such an event can be witnessed, offering tourists and residents alike an unprecedented view of space technology in action. The agreement not only signifies a leap into space tourism but also supports SpaceX’s Starlink mission, which seeks to provide high-speed internet globally, including enhancing connectivity and response capabilities during disasters in The Bahamas.

Deputy Prime Minister and Minister of Tourism, Investments & Aviation, Chester Cooper, expressed excitement over this partnership, highlighting its potential to foster economic growth, create jobs, and improve educational opportunities through access to high-speed internet via Starlink.

This venture is expected to have a transformative impact on The Bahamas, positioning it as a leader in space tourism and technology. Additionally, SpaceX has pledged to establish a space-themed installation in The Bahamas, showcasing space hardware and a SpaceX spacesuit, marking it as a unique attraction outside the United States. This installation is anticipated to draw attention from around the globe, further cementing The Bahamas’ place in the world of space exploration and education.

The partnership also includes commitments to enhance STEM education in The Bahamas through regular space-focused presentations, aiming to inspire the next generation of Bahamian scientists, engineers, and astronauts. Aisha Bowe, a former NASA rocket scientist and the first Bahamian set to travel to space, has played a pivotal role in realizing this partnership, symbolizing the potential for Bahamians in the global space industry.

The initiative is part of The Bahamas’ broader vision to diversify its economy and embrace innovative technologies, as outlined in its Blueprint for Change and Innovate242 initiative, marking a significant milestone in the nation’s journey towards becoming a hub for space tourism and technological advancement.

Strategic Capital Raising Guidance For Caribbean Developers

News Americas, NEW YORK, NY, Tues. Feb. 20, 2024: As US and global financiers recalibrate their investment strategies, moving away from the Caribbean’s once-favored sectors, local project developers find themselves at a critical juncture. The shift has placed a premium on innovation and distinctiveness in project proposals, pushing Caribbean entrepreneurs to refine their approaches to secure vital capital.

The current investment climate underscores the need for projects not just to appeal but to resonate with potential financiers through a combination of strategic planning and storytelling. Here are the pivotal strategies that experts believe can make the difference:

1. A Story Worth Telling: Successful projects hinge on a compelling narrative. An engaging pitch deck that succinctly tells a project’s story, its impact, and potential return on investment stands out in a crowded marketplace.

2. A Plan That Shines: A robust, detailed business plan with an attractive design ensures that key information catches an investor’s eye. Clarity and aesthetics go hand in hand in making a project memorable.

3. The Right Team for the Job: Demonstrating a project’s credibility through the expertise and track record of its team is non-negotiable. Investors invest in people as much as in ideas.

4. Commitment Is Key: A tangible investment from project developers—commonly expected to be around 10% of the total sought capital—signals commitment and confidence in a project’s success.

5. Equity Before Debt: Securing equity partners before approaching debt financing provides a solid foundation, reducing perceived risk and enhancing project attractiveness.

6. Strategic Funding Phases: Articulating a clear, phased approach to funding not only helps in managing resources but also in building investor trust through demonstrated milestones.

7. Transparent Costs: Including broker fees and other costs upfront in financial projections eliminates surprises and fosters trust between developers and financiers.

The consensus is clear: the path to securing investment in the Caribbean’s evolving landscape is paved with transparency, preparation, and strategic partnerships. As the region adapts to these changing dynamics, the role of specialized agencies like Invest Caribbean becomes increasingly crucial. Offering expertise in crafting pitch decks, financial modeling, and investor matchmaking, Invest Caribbean positions Caribbean projects for success on the global stage.

For project developers looking to navigate this challenging environment, the message is to adapt, innovate, and partner strategically. With the right approach, the Caribbean’s rich potential can be fully realized, attracting the investment needed to drive sustainable development and economic growth.

As ICN’s Mastering the Art of Raising Capital podcast guest Jay Dickieson says, a project developer’s job is to chip away at the 100 percent risk factor for any investor by giving them confidence in what you are doing and the more ammunition you can assemble through your team, traction etc.

For further assistance and to explore how Invest Caribbean can help bring your project to fruition, contact us today.

USVI Population Numbers Revealed: Key Demographic Insights

News Americas, Washington, D.C., Thurs. Feb. 15, 2024: The latest U.S. Census Bureau data today unveiled that the population of the US Virgin Islands, (USVI), stands at 87,146, marking a significant demographic snapshot from the 2020 Census.

Here’s a breakdown of the key findings:

Median Age and Gender Distribution: The median age of the total population is reported at 45.9 years, with males comprising 48.6% and females 51.4%.

Ethnic Composition: The majority of the population, accounting for 71.4%, identifies as Black, while the White alone population stands at 13.3%. Additionally, the Hispanic or Latino population accounts for 18.4%.

Household Dynamics: A notable statistic reveals that over two-thirds of grandparents (68.5%) live with grandchildren under the age of 18 in households predominantly led by women.

Educational Attainment: Approximately 22.3% of individuals aged 25 and over hold a bachelor’s degree or higher, indicating varying levels of educational achievement within the population.

Language Demographics: English remains the primary language, with 69.8% of those aged 5 and over speaking English only.

Poverty Rates: The data highlights that 22.8% of all people in households are below the poverty line, indicating socio-economic challenges within the community.

Unemployment: Within the civilian labor force, the unemployment rate stands at 9.7%, with a slightly higher rate among women at 10.1%.

Housing Landscape: Nearly 70% of all housing units are occupied, with 47.8% by owners and 52.2% by renters, providing insights into housing dynamics and occupancy rates.

Experience ‘Jamaica’s Vibe Getaway’ With Blue Diamond Resorts: Honoring the King of Reggae

CARIBPR WIRE, MONTEGO BAY, Jamaica, Feb. 15, 2024: In tribute to Jamaica’s Reggae legend, Blue Diamond Resorts presents its latest offering: the ‘Jamaica’s Vibe Getaway,’ a six-night immersive experience designed for guests staying at select all-inclusive resorts in this destination. This sensory journey seamlessly weaves together luxury, music, and the vibrant cultural tapestry of the island. The experience is available in February at their Negril resorts, including Royalton Negril and Hideaway at Royalton Negril, as well as in Montego Bay, encompassing Royalton Blue Waters and the newly opened Hideaway at Royalton Blue Waters.

Starting with private transportation from the Montego Bay International Airport to the resort to check in at the lavish Luxury Chairman Ocean Front Suite Diamond Club at either Montego Bay or Negril. These opulent sanctuaries offer a haven of comfort, personalized butler service, and private balconies with panoramic ocean views to soak in the natural beauty that inspired the king of reggae’s timeless melodies.

As the sun sets over the Jamaican horizon, a private concert awaits guests on the beach where talented musicians strum the chords of classic reggae hits, creating an intimate ambiance under the starlit Caribbean sky.

Travelers will also experience a unique culinary journey which includes a private dinner in the Chairman Suite, masterfully curated by the Executive Chef with the flavors of Jamaica’s diverse gastronomy. To accentuate the palate, a rum-tasting odyssey hosted by Appleton Estate will give vacationers a glimpse of the rich history and flavors of this world-renowned rum.

Exclusive entertainment options will also be available in the Chairman Suite, featuring a curated playlist to unwind to the rhythm of reggae in the intimate luxury of its accommodations, fully embracing the culture of the destination.

Bookings for the “Jamaica’s Vibe Getaway” at Royalton Luxury Resorts and Hideaway at Royalton Resorts in Jamaica are available until February 29, 2024, with a starting price of $2,625 USD per person per night. Travelers embarking on this journey will be able to travel from February 29 – December 23, 2024.

For more information or to book your stay, contact me***@bl****************.com.

“Jamaica’s Vibe Getaway” Package
Available for booking from February 14th to February 29th, 2024*
Travel from February 29th to December 23rd, 2024.
Starting rate at $2,625 USD per person, per night**

*Package is subject to availability. Blackout dates and other restrictions may apply.
**Prices are quoted per person, per night, in USD and are subject to change without prior notice. Offer cannot be combined with any other promotion or discount.

About Blue Diamond Resorts  

Blue Diamond Resorts encompasses over 60 properties, exceeding 18,000 rooms in eight countries located in the most popular holiday destinations in the Caribbean. Its nine leading hotel brands include the Award-winning, All-In Luxury® Royalton Luxury Resorts, where Everyone is Family. Whether guests come as friends, parents, kids, couples, weddings, corporate or incentive retreats, or solo travelers everyone is family in these properties that feature personalized services and signature amenities including All-In Connectivity, DreamBed, and the Sports Event Guarantee.  To refocus on valued relationships and friendships, Hideaway at Royalton offers an adults-only experience with exclusive dining and preferred accommodations to enhance Togetherness among their guests. Party Your Way at Royalton CHIC Resorts, an adults-only vibrant and effervescent all-inclusive brand to revel in the unexpected. Mystique by Royalton is Miles from Ordinary, offering their visitors the chance to connect with their surroundings in a boutique-style resort collection full of endless beauty and hip vibes. In Jamaica, Grand Lido Negril offers guests over the age of 21, a unique and all-inclusive Au Naturel vacation along with a secluded shore for the utmost privacy. Memories Resorts & Spa offers a vacation designed whether you’re planning a family vacation, reuniting with friends, or just have a relaxing moment with your significant other, while Starfish Resorts provides amazing value, breathtaking surroundings, and rich culture and heritage. Planet Hollywood Hotels & Resorts invites guests to Vacation Like A Star with an engaging and interactive experience, plus famous pop culture items from iconic movies, music, and sports while you will Dodge the Paparazzi at Planet Hollywood Adult Scene where your adults-only vacation will be the center of fascination and attention with glam and exclusivity.  

To learn more about Blue Diamond Resorts, please visit www.bluediamondresorts.com   

Former BVI Premier Faces Life In Prison Sentence

News Americas, MIAMI, FL, Weds. Feb. 14, 2024: Former Premier of the British Virgin Islands (BVI), Andrew Fahie has been convicted in Miami Federal Court for his involvement in a conspiracy to facilitate the transportation of large quantities of cocaine through the archipelago in 2022.

Andrew Fahie, from premier to US federal inmate.

After more than four hours of deliberation, a jury unanimously found Fahie guilty on four counts related to conspiracy and money laundering. He now faces a potential life sentence in prison and a $10 million fine specifically for the cocaine conspiracy charge.

Fahie was found to have collaborated with undercover U.S. Drug Enforcement Administration (DEA) agents who posed as drug dealers, intending to traffic a significant cocaine shipment through territorial waters.

Previously serving as both the BVI’s premier and tourism minister, Fahie was convicted after a week-long trial. His alleged co-conspirator, Oleanvine Maynard, who held the position of managing director of the British Virgin Islands’ port authority at the time, was arrested alongside Fahie. Maynard provided extensive testimony against Fahie during the trial.

Court documents indicate that Fahie anticipated receiving an initial payment of $500,000 in cash, along with future proceeds from drug sales, in exchange for facilitating the shipment. Fahie, who had been free on bail, was subsequently handcuffed and taken into custody.

Maynard, who pleaded guilty last June to participating in the conspiracy, is set to be sentenced on February 22 by Judge Williams. Reports suggest she is seeking leniency for her cooperation. Fahie has consistently denied all charges against him.

The incident unfolded when Fahie and Maynard, attending the Seatrade Cruise Global conference in Miami in April 2022, decided to investigate a purported $700,000 shipment aboard an airplane they believed was destined for the BVI.

Jamaican Singer Sean Paul Drops New Reggae Track

News Americas, NEW YORK, NY, Fri. Feb. 9, 2024: Jamaican Grammy winning singer, Sean Paul, has dropped a new single. Paul dropped “No Evil” today. The track delves into life’s struggles, frustrations, and the determination to stand strong. He reminds fans that in the face of adversity, there’s no evil that can break their spirit. Listen below.

Bahamian Government Plans Tax Reforms Affecting Cruise Lines’ Private Islands

News Americas, NASSAU, Bahamas, Fri. Feb. 9, 2024: The Government of The Bahamas has announced plans for tax reforms that will impact the Bahamian private islands owned by cruise lines, ending their nine-year value-added tax (VAT) free status. This confirmation comes amidst a reveal of a Department of Inland Revenue “guidance document” from Simon Wilson, the Ministry of Finance’s financial secretary obtained by the local Tribune newspaper.

An aerial view of Coco Cay, the private island for Royal Caribbean International cruise line, in the Bahamas. (Joe Burbank/Orlando Sentinel/Tribune News Service via Getty Images)

According to the document, tax authorities intend to change the tax treatment of goods and services supplied to millions of tourists visiting these locations annually by imposing VAT on all such transactions at the standard 10.0% rate within the upcoming weeks.

Wilson emphasized the government’s disagreement with the International Monetary Fund’s (IMF) suggestion of introducing a personal income tax targeting the top 10.0% of earners, among other reforms, to achieve its 25% revenue-to-GDP goal. He argued that the current tax system possesses adequate “buoyancy” to meet revenue ratio ambitions.

However, the IMF’s proposed reforms, including the implementation of corporate and personal income tax regimes, might face resistance in The Bahamas due to the absence of historical taxation of such kinds. Additionally, their execution would necessitate substantial investment in training personnel and technology for administration.

The Davis administration has set a target for government revenues to equal 25.0% of GDP by the 2025-2026 fiscal year. Yet, without the outlined reform package, the IMF projections indicate that this ratio would persistently remain just below 22.0% through 2032-2033.

These proposed changes, notably the new VAT and discussions regarding a corporate income tax, could signify a positive step for The Bahamas, whose revenues have historically relied heavily on tourism. This dependence renders its economic activity and fiscal position susceptible to industry-related adversities, including climate-related and economic shocks. However, the extent and impact of these tax restructuring measures remain to be seen.

Caribbean Travel News And Deals This Week

News Americas, NEW YORK, NY, Fri. Feb. 9, 2024: Here are the top Caribbean travel news and deals this week in 60 seconds.

Canada is warning nationals to exercise a high degree of caution if travelling to or in the Bahamas due to high rates of crime, especially in Freeport and Nassau.

Jamaica’s prime minister has slammed a US travel advisory on the island, telling Travel Weekly that “it runs counter to the story of Jamaica in the last five years (and) is not supported by the trend in (crime) statistics.” Three million Americans traveling to Jamaica last year, and 52 crimes reported, added Sandals Resorts CEO, Adam Stewart.

Delta Air Lines says it is returning to Barbados with scheduled flights out of Hartsfield-Jackson Atlanta International and John F Kennedy (JFK) International Airports. Effective November 23, 2024. Delta will provide a seven-day-a-week service from Atlanta, Georgia, and provide once-weekly services on Saturdays from New York, commencing December 21st, 2024.

Montserrat, known as the “Emerald Isle of the Caribbean,” is gearing up for its 42nd annual St. Patrick’s Festival, set to take place from March 8 to 18, 2024. The festival will feature a myriad of exciting events, including the highly anticipated All White Affair, the thrilling Leprechaun’s Revenge, the pulsating Emerald City Reggae Fest, Scriber’s Adventure Hike and Boat Cruise, as well as the iconic St. Patrick’s Day Parade and Heritage Feast.

April is Calling your name with this Celebrity Cruises, 5 night cruise Deal to the Western Caribbean from Fort Lauderdale. Get a Veranda state room for two at USD 590 per person when you book now

Or Get To Trinidad’s 2024 Carnival with Caribbean Airlines from Fort Lauderdale Florida from Feb. 11th to the 15 for less than USD 610. Book on CAL

Canadian Born, Jamaican Roots Actor Returns In ‘The Walking Dead: The Ones Who Live’

News Americas, LOS ANGELES, CA, Thurs. Feb. 8, 2024: Canadian-born Jamaican heritage actor, Andrew Bachelor, famously known as King Bach, is making his comeback in AMC’s ‘The Walking Dead: The Ones Who Live.’ This upcoming American post-apocalyptic television series, created by Scott M. Gimple and Danai Gurira, is set in the aftermath of the original The Walking Dead series. It features Andrew Lincoln, Danai Gurira, and Pollyanna McIntosh reprising their roles, with Bachelor joining the cast for the premiere this week.

(L-R) Terry O’Quinn, Jamaican roots King Bach, Andrew Lincoln, Danai Gurira, Lesley-Ann Brandt, Breeda Wool and Craig Tate attend the premiere for AMC+ “The Walking Dead: The Ones Who Live” at Linwood Dunn Theater on February 07, 2024 in Los Angeles, California. (Photo by Frazer Harrison/Getty Images)

Scheduled to debut on February 25, 2024, on AMC, ‘The Walking Dead: The Ones Who Live’ promises to be an epic love story. It sees Lincoln and Gurira returning to their roles as Rick Grimes and Michonne, respectively, with both also serving as executive producers. The series explores the journey of long-lost lovers striving to reunite in a world still overrun by zombies.

Canadian born Jamaican roots star, Andrew King Bach Bachelor, attends the premiere for AMC+ “The Walking Dead: The Ones Who Live” at Linwood Dunn Theater on February 07, 2024 in Los Angeles, California. (Photo by Alberto Rodriguez/GA/The Hollywood Reporter via Getty Images)

Bachelor, known for his portrayal of Bailey in ‘The Walking Dead’ and its spin-off, joins the cast for what is expected to be a captivating performance.

A native of Rexdale, Toronto, Bachelor has a diverse background, with Jamaican parents and a Christian upbringing in West Palm Beach, Florida. His journey to stardom includes significant success on platforms like Vine, where he amassed millions of followers, as well as roles in various films and TV shows.

Now, with his return to ‘The Walking Dead’ universe, Bachelor is poised to captivate audiences once again with his talent and versatility.

ExxonMobil Plans Offshore Oil Exploration Despite Venezuela’s Past Incursions

News Americas, GEORGETOWN, Guyana, Thurs. Feb. 8, 2024: ExxonMobil, the US oil and energy giant, announces intentions to explore for oil offshore the Essequibo region, where Venezuelan gunboats previously chased seismic research vessels in oil concessions granted by Guyana six years ago.

Alistair Routledge, President of ExxonMobil Guyana, reveals plans to drill two exploration wells west of Liza and Payara. Despite tensions, Routledge assures that the exploration activities will proceed as planned.

Venezuela’s President Nicolas Maduro unilaterally extended the maritime boundary in 2015, leading to naval interceptions of research vessels in 2018. Despite concerns, Routledge affirms the legality of ExxonMobil’s agreement with Guyana under local and international law.

ExxonMobil plans to invest approximately US$60-70 million in each exploration well, with potential cost escalation for additional data gathering and stem drill tests.

Routledge welcomes the Argyle Declaration between Guyana and Venezuela, emphasizing collaboration between the US and Guyana in defence, diplomacy, and energy supply.

US Air Force Major General Evan L. Pettus recently visited Guyana to discuss air domain awareness and strengthen collaboration on airspace security.