No slowdown in spending among the wealthy on this Bahamian island

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CNBC’s Bob Pisani checks in from his vacation with a read on the global economy.

on the marina of this tiny speck of an island for a vacation was met with bemusement by the tourists who had gathered to watch the magnificent sunset at the bar, and with dismay by locals, worried that their little speck of paradise was turning into the next Saint Barts.

The woman herself, she explained, had moved to Eleuthera, a 10-minute water taxi ride away, where the hoi polloi rarely come, apparently. The operative word is"tiny." The largest hotel has 41 rooms; the dozen or so other hotels have less than that. Altogether, there can't be more than 250 hotel rooms on the entire island. It's unlikely you'll see a big global chain set up shop here. I's doubtful the infrastructure could support a large hotel. Not surprisingly, there seems to be a brisk business renting out the few houses on the island.

Source: Financial Digest (financialdigest.net)

 

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