Securing the economic benefits of an “international finance center”, like being a tourism destination, is a pursuit by large and small countries around the world.
It is a tough fight as international finance is highly mobile: while there are key attributes to being a finance center (stable political and fiscal environment) there are no immovable assets (the presence of the Bahama Bank and third largest barrier reef) that pre-determines or aids one’s success in financial services.
It is for this reason that financial services, perhaps even more than tourism, requires the leadership and engagement of the prime minister and those that sit around the Cabinet table.
Leadership demands the establishment of development goals and monitoring of key success targets that are both growth and risk management in nature.
Engagement is required both in the proactive and deliberate pursuit of key businesses and sector leaders whose business model, brand and capacity are consistent with the country’s strategic goals for the sector and in defense of the country’s industry, such as those occasioned by the work of the OECD.
