Bahamian Flag with Palm Trees and blue sky, located in Nassau Bahamas. Photo was taken May 1, 2014.
Getty
Fifty miles off the southern tip of Florida lies a set of small islands that are utterly exquisite. These days, I wouldn’t blame you for mistaking them for the lost Garden of Eden.
Parts of them, anyway.
The Bahamas are filled with stunning beaches, awe-inspiring natural caves, pirate coves, interactive dolphin events and whale-watching tours… not to mention the many snorkeling opportunities around shallow shipwrecks, moderate-depth variety sights, and deeper waters still.
I was just in the renowned town of Nassau, myself. And let me tell you… It was true to every advertisement and marketing scheme I’ve ever seen or heard about the place.
You get to see the most striking range of blues and greens there in those amazing waters. The air everywhere you go is tinged or flat-out saturated with the best kind of ocean scents you can imagine. And no matter whether you’re there on business – which I was – or for pleasure, you can’t help but feel like you’re in paradise itself.
Just one warning for you if you do decide to go: You may leave utterly ruined to appreciate anywhere else. Where I was, it was just that good.
Here are some other delicious descriptions, courtesy of www.bahamas.com:
“The Bahamas archipelago is an ecological oasis sprinkled over 100,000 square miles of ocean… It comprises 700 breathtaking islands, over 2,000 rocks and cays, and boasts the clearest water on the planet – with a visibility of over 200 feet. You can see your toes as easily as you can the world’s third-largest fringing barrier reef.”
Doesn’t that sound amazing in and of itself?
Nassau truly seems to have something for everyone, from exquisitely challenging golf courses… to exclusive designer shops… to historical sightseeing… to live music or DJ-driven nightlife entertainment.
Who wouldn’t want a piece of it?
Yet, apparently, the United States does not.
Some Interesting Considerations
It’s been more than eight years now – going on a decade – that the U.S. hasn’t had an ambassador to The Bahamas, according to CaribbeanNews.com. Why that is isn’t entirely clear. At least not without digging into what is no doubt significant amounts of political and bureaucratic rationales.
Which, let’s face it, is a rabbit hole we don’t have the time for.
Two years ago, to his credit, President Trump did nominate someone for the role. But that individual hasn’t been confirmed at this time… leaving this seemingly cushy yet surprisingly important position continuously vacant.
That’s to the detriment of the United States, its investors, and likely that of The Bahamians as well. Particularly when there’s another country cashing in on this sandy plot of real estate.
While American, Canadian, and European companies look to build hotels and resorts, and take other such “smaller” stakes there, China has its sights on much bigger investments. Quoting CaribbeanNews.com directly:
“China has set its sights on The Bahamas and has invested billions of dollars in building new infrastructure and industry across the country.
New roads, new businesses, new hotels, and booming Chinese immigration has led to many companies being staffed with more Chinese workers than local Bahamians.”
Plus, “Reports show that over 200,000 Chinese are illegally smuggled into the Caribbean every year to open their shops or work at Chinese businesses, with many sending their money back to China.”
However, the local government doesn’t see how it’s in a good position to do anything about it since Chinese state banks are simultaneously flooding the islands with tens of millions of dollars… even going so far as to finance new ports there.
At the same time – and quite possibly because of all these additional infrastructure projects – The New York Times reported last year how, “Luxury prices are inching up in Nassau, thanks in part to foreign investors who see the island nation as a safe investment.”
The Ones to Beat
So what is the effect on this perceived paradise?
Personally, I don’t see investor interest waning any time soon, especially not Chinese investor interest. Just two years ago, the elaborate, enormous, and very expensive Baha Mar opened up in The Bahamas, courtesy of a Hong Kong-based Chinese company.
When it comes to Bahamian luxury vacations, Baha Mar is most definitely the one to beat. And everybody knows it.
When the Canadian-based Wynn Group’s CEO, Paul Wynn, broke ground for his company’s $120 million condo-hotel and residences development (scheduled to open next year), he didn’t bother boasting about the upcoming property compared to his Chinese competitors.
“We will not compete with Baha Mar,” he assured. “We will complement Baha Mar with a boutique, electric environment.”
Really, what else could he say?
More Development Underway
To be sure, there are other notable developments and development plans throughout the islands. And not all of them are financed by China.
Over two years ago, it was announced that Tiger Woods had been hired to help create a new 10-hole golf course there. The up-and-coming getaway, named Jack’s Bay, is “nearing completion,” according to www.jacksbayclub.com.
The property’s residential component consists of 575 total residential units, including 210 spacious estate lots with golf, beach, or ocean views. And there are 32 exceptional beachfront homesites where owners can build their dream homes.
Other options include an assortment of 126 condos and club suites, as well as 239 luxury, developer-built bungalows and villas designed by the acclaimed architects at Colman Design Group of Eleuthera.
A few miles away is the Four Seasons Ocean Club resort, also known as The Ocean Club, A Four Seasons Resort. It’s where I stayed when I was there, and the amenities it offers alone are amazing. The property is owned by Access Industries, the conglomerate founded by billionaire Len Blavatnik, who serves as its chairman.
Blanatnik is a dual citizen of the U.S. and the U.K. and, according to Forbes, emigrated to the U.S. in 1978 to study computer science at Columbia University. I don’t know if that education has anything to do with it, but his Ocean Club is one of the highest-quality hotels I’ve ever visited.
Since there’s no Uber service in The Bahamas, I had to drive myself back to the airport, passing by the landmark British Colonial Hilton hotel as I did. Though, with this one, don’t be fooled by the name.
It may have been built by a Brit and is currently managed by the American-based Hilton. But it’s most definitely owned by the China State Construction Engineering Corporation, the same owner as the Baha Mar.
The Bahamian Objective
When it comes to the British Colonial Hilton, that place is an absolute icon, despite its somewhat spotty past. Originally named the Colonial Hotel, it was built in 1901 by Henry Flagler, a man I mention in my book The Trump Factor for his many noteworthy real estate projects in South Florida.
After switching hands several times over the decades that followed, the hotel was eventually shuttered across the early and mid-1990s, bought by one company in 1997, and then sold to its current owners in 2014.
Speaking on the topic of the “British” Hilton, Bahamian Prime Minister Perry Christie had this to say:
“My government’s objective has been not only to secure a qualified buyer to upgrade and operate the Hilton Hotel, but one with the means to proceed forthwith to develop the vacant property to its fullest potential for the greatest economic benefit to both the investors and the local economy.”
Apparently, that was the Chinese.
Nobody Does It Better
There’s no other way to look at it. More and more stellar real estate in The Bahamas is being claimed and marketed to the international community. Several James Bond movies were even filmed there, including The Spy Who Loved Me – which had scenes shot at Thunderball Grotto. Meanwhile, Never Say Never Again was recorded at the Hilton. And Casino Royale was filmed at The Ocean Club.
But perhaps the most fitting James Bond movie tribute to The Bahamas is my personal favorite: The Spy Who Loved Me. As Carly Simon croons in the movie’s smash-hit number, “Nobody does it better.”
Tourists recognize that, flocking to the phenomenal Bahamas more and more with each passing year. And as already established, China gets the big picture, now owning some of the largest trophies in the Bahamas.
Perhaps it’s time the U.S. takes notice too.