Kerzner International’s signing last night of a heads of agreement with the government to begin it’s $600 million Phase III expansion on Paradise Island will “help The Bahamas retain its dominance in Caribbean tourism” and reduce the rising unemployment rate, a leading economic observer told The Tribune.
The source, who requested anonymity, said that given the softness in the US and world economy, the decision by Kerzner International to proceed with its Phase III expansion represented a tremendous vote of confidence in The Bahamas and the government and could attract additional investors to this nation.
Source: Neil Hartnell, The Tribune
