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Nassau in The Bahamas is Booming - Here's Why!

Posted by The Pointe on Apr 25, 2019 5:30:18 PM
The Pointe

Nassau The Bahamas economyIt is not hard to see why Nassau in The Bahamas is such a popular location. Exceptional weather, amazing scenery, and unparalleled amenities certainly justify a trip to or an investment in the area.

It is safe to say that Nassau is no longer a hidden gem because the word is out about what an amazing place it truly is.

Nassau is booming, and there are many reasons for this epic growth.

Nassau in The Bahamas

Redevelopment of Prince George Wharf 

One of the world's most popular stops for cruise ships is Prince George Dock. Also known as the Prince George Wharf, this project was completed in the 1960s and dredged again in 2009 and, since that time, can accommodate the largest ships in the world.

Many visitors to Nassau and to The Bahamas first experience this tropical destination on a cruise. Many cruise ships, in turn, make their way to Prince George Wharf and is the first view of The Bahamas that millions of passengers see. Clearly, it is important for that first experience to be as wonderful as possible. 

With the increase in the number of passengers experiencing Nassau via cruises, plans are underway to transform the wharf into a world-class entertainment venue. Global Ports Holding is leading the $250M redevelopment project and it will include new attractions, additional berths, dining, entertainment, and more.

New Prince George Dock

Once complete, the new design will allow the wharf to become an integral part of the city itself.  The project is planned to be complete in 2021.

Hotel Industry Revenue Up in The Bahamas

Of course, not every visitor to Nassau in The Bahamas arrives on a cruise ship. Millions more arrive by air and stay at a hotel. For that reason, the revenue of the hotel industry as a whole is a great way to see how the tourism industry is doing in a particular area. 

In 2018, hotel revenue in Nassau was up 34%, with similar growth predicted for 2019. Daily room rates are on the rise, there are more visitors staying in hotels, and there is more demand overall. 

All of this is great news because visitors don't just come to Nassau to stay in a hotel. They also eat great meals at local restaurants, drink cocktails by the beach, go on boat tours, and purchase souvenirs. In countless ways, they contribute to the local economy and encourage the growth of businesses catering to international visitors.

For those who frequently vacation in The Bahamas or consider Nassau to be a second home, this is overwhelmingly positive. It means more choice for you and better infrastructure overall. 

Economic Strength in Nearby Countries 

Nassau has long been a desirable travel destination. However, a big reason for the increase in real estate investment and travel has to do with the economic strength in nearby countries. Notably, a strong economy in the United States means more American visitors and investors flock to Nassau in The Bahamas. 

This makes perfect sense. In tough economic times, people are less likely to travel internationally on vacation or invest in second or vacation homes. When the economy is stronger, then there are more opportunities to live life to the fullest.

Since the economic state of nations like Canada and America has been on the rise after the 2008 recession, places like Nassau are seeing renewed interest and renewed growth. With continued economic stability in North America, Nassau can expect continued interest from travelers and investors alike. 

More Flights to Nassau 

Airlines are often the first to research and explore whether a particular destination is booming. After all, every airline wants to be the one that offers direct and frequent routes to a popular spot. When an airline begins to offer new routes or increased flights to a particular location, it is usually a good sign that they are noticing trends and tracking growth in the area. 

American Airlines, for example, recently announced a broad expansion into the Caribbean. That means more flights, more destinations, and more routes that travel to popular spots like Nassau. While many of these flights are concentrated in the winter season, there are also year-round flights to accommodate those who travel outside of the busiest months of the year.

For those who spend just part of the year in Nassau, having more convenient and direct flights available makes each trip a little simpler, and it can be another reason to travel to or buy property in the area. 

Increased Real Estate Investment 

More travel to a destination doesn't always mean more investment. In the case of Nassau in The Bahamas, however, it usually is. When travelers visit Nassau for a few days or a few weeks, they are often drawn to the incredible lifestyle that The Bahamas can offer.

That atmosphere, combined with the relative affordability of real estate when compared to other popular beachfront destinations, means plenty of visitors-turned-buyers. 

One Particular Harbour at The Pointe luxury residence

Fortunately, there are still several great opportunities for real estate investment in Nassau. Some people may purchase property for retirement and others opt for a second home.

Real estate can serve an immediate purpose, but it can also be a way to generate income or protect assets for the long-term. 

Infrastructure and Amenity Growth in Nassau 

There are still places in The Bahamas that are remote and secluded. While it is nice to spend a day in these destinations, most travelers want to enjoy all the beauty of The Bahamas while still embracing a luxury lifestyle.

The good news is that infrastructure and amenity availability are growing in Nassau. 

From upscale restaurants to spas to luxury shops and reliable internet access, you can have the lifestyle you deserve right in the heart of The Bahamas. 

Take Advantage of Nassau Growth

Nassau is booming, but it is not too late to get in on the incredible growth in the region. It’s a great time to visit the area and see the real estate investment opportunities available to you.

Make sure One Particular Harbour by Margaritaville at The Pointe is on your list. Located in the heart of downtown Nassau and on Nassau Harbour, One Particular Harbour residences provide an upscale lifestyle with a casual, beachfront atmosphere.

Start your research now and find out more about these luxury residences.

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Topics: Insider