A week ahead of the opening of the Baha Mar, CIBC FirstCaribbean executive Trevor Torzsas said his institution - like the rest of the country, and the region - was looking forward to the opening of the $3.5 billion mega resort as both a catalyst for economic growth in the overall economy and as a potential and already real market for banking services.
Torzsas is managing director of customer relationship management and strategy at the bank, and is based in Nassau. He spoke to Guardian Business about Baha Mar at his offices on West Bay Street.
"We hope to have different relationships with Baha Mar and the Baha Mar group of companies over time. We do have some, and with a development that size, it's a big percentage of the overall country. We have a lot of individuals who work at Baha Mar bank with us; people buying properties bank with us; the businesses going in and around the complex bank with us," he acknowledged.
"As one of the prominent banks in the country, we have a variety of relationships to that development."
In fact, Torzsas said the size and scale of Baha Mar - and the consequent draw it would be to U.S. travellers - is "exciting." Whenever the economic health of the country improves, he said, it is good for the bank. The resort is set to open on March 27. It has been the subject of reams of pages and hours of footage, not all of it positive.
Still, Torzsas is convinced that the surging tourism sector - exemplified by the strong air arrivals touted by Tourism Minister Obie Wilchcombe yesterday - could only be good for the economy. The trend is region-wide, marking a strengthening of Caribbean economies.

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