National

Investment Is Flowing, But Is Local Business Ready?

GRAND BAHAMA, BAHAMAS – Grand Bahama’s revival depends on local readiness, says Chamber President, urging better collaboration and business preparedness amid new cruise investments.

Published

6 months ago

June 24, 2025

Kendeno Knowles

GRAND BAHAMA, BAHAMAS – The success of Grand Bahama’s economic resurgence depends not only on new investment but also on how well locals prepare to play their part, according to Grand Bahama Chamber of Commerce President Dillon Knowles.

As Knowles walked through the Port Lucaya Marketplace, once the vibrant heart of Freeport’s tourism industry, he reflected on how much the area has changed.

“KK: Do you remember a time when you couldn’t walk in this area or find space in this area? What does it feel like now?
DK: This is a symptom of a lack of collective engagement of the four pillars of commerce.”

Today, Port Lucaya is a quieter stretch of souvenir shops, bars, and craft stalls, all fighting to keep the spirit of the city alive. But Knowles believes infrastructure alone won’t spark true revitalization. He says the key lies in strategic alignment between businesses, regulators, government, and everyday consumers.

Nowhere is this disconnect more visible than in the tourism sector.

Dillon Knowles – President, GB Chamber of Commerce
“The cruise industry has now come along and has said we need things to do on Grand Bahama. And so we are going to create that because you’re not creating that Grand Bahama. So now you have Royal Caribbean, Celebrity Cruise Line, you have Carnival, MSC, all engaging and putting their capital where their mouth is.”

Knowles welcomes the investments by major cruise lines, but he’s cautious. He warns that while these companies bring in significant dollars, they often take the lion’s share of the profits. Still, signs of economic hope are emerging.

Dillon Knowles – President, GB Chamber of Commerce
“KK: Are your members feeling any real shift? Just knowing and understanding the 3 1/2 billion dollars in investments, while we hear that number, is that momentum this resurgence is supposed to bring being felt?
DK: So it happens in waves, and it touches different people at different times in the wave.”

One of the first sectors feeling the wave is real estate, with both locals returning to the island and new expats moving in. However, Knowles says many small businesses are struggling to keep pace.

After years of operating in survival mode, he notes that many local businesses lack adequate training, systems, and understanding of how to engage with international partners. That’s why the Chamber is working to pull more businesses into the fold and help them adapt.

Dillon Knowles – President, GB Chamber of Commerce
“They need to understand what it is going to take, how much working capital they’re going to have. They can’t just go Downtown every day and buy another five widgets to be able to sell tomorrow, because they’re not going to get their revenue on a daily basis.”

Despite the challenges, Knowles remains optimistic. He says that as long as businesses are willing to learn and evolve, there’s opportunity for everyone.

Dillon Knowles – President, GB Chamber of Commerce
“Every dollar helps us. So we’re happy to see this happen. And we’re happy that as these projects move forward, we’ll see more and more foot traffic, and therefore more and more engagement by our members and the wider business community.”