A good attendance is expected at Atlantis on January 21 for the Royal Fidelity Bahamas Economic Outlook (BEO) with online delegate confirmations reflecting the keen interest in the full day conference and social calendar. An impressive cadre of international speakers, each individually renowned for his or her insightful and sometimes controversial or entertaining views, is once again the main draw for BEO. Michael Anderson, president of Royal Fidelity Merchant Bank and Trust Ltd., said it is a rare opportunity to see four such notable speakers on one ticket, and there is much anticipation as to their views on the conference theme, ‘Inequality – Addressing the Global Imbalance’.
Several “blue chip” companies are once again the sponsoring partners: Cable Bahamas, Commonwealth Brewery, Graham Thompson, J.S. Johnson, RBC Royal Bank, PricewaterhouseCoopers and the Tribune Media Group. Three executives – Gowon Bowe, PwC; Ryan Pinder, Graham Thompson; and Charles Johnson of J.S. Johnson – were asked for their views on the conference theme.
Gowon Bowe, partner at PricewaterhouseCoopers (PwC,) reminded us that inequality has been with us since David and Goliath of biblical times.
“Inequality is a real and age-old challenge that has plagued the global economy and domestic economies, including The Bahamas. We observe this in things like tax initiatives, with larger OECD countries devising and implementing tax policies among themselves that significantly impede competition from smaller ‘offshore’ jurisdictions, and climate change, with larger countries contributing to global warming that may result in islands within The Bahamas being underwater in the not-so-distant future,” said Bowe.
He continued: “Domestically, we experience inequality regarding the widening of the gap between the ‘haves’ and the ‘have nots,’ largely exacerbated by the prolonged impacts from the recent economic recession and slow economic recovery.
“However, inequality provides opportunities for stories of triumph, starting from the very story of David and Goliath. To achieve greater equality, global and local leaders must exhibit out-of-the-box thinking, innovation and courage. Forums like the Bahamas Economic Outlook provide thought-provoking dialogue and opportunities to consider the dynamics of the world outside our shores, and most importantly can be a catalyst for the new ideas that may break the back of inequality in the global and domestic economies. PwC Bahamas is proud to be a sponsor of such an event, as it plays its role in solving complex problems.”
Ryan Pinder, partner at Graham Thompson, the lunch-time speaker, commented on the natural inequalities of a small country.
“The Bahamas is a country at the crossroads of the Americas, a jurisdiction that is well positioned for economic growth and development. The Bahamas, however, is a small country, and positioned at the aforementioned crossroads, must be aware of the various social, political and economic makeup of the many surrounding larger countries, finding its place in the global balance to be economically successful,” said Pinder. “As a small country, we frequently are subject to international inequalities, whether economic, social or political, and must rely on our expertise, knowledge and creativity to not merely survive, but to thrive in the global economic arena. The legal industry must lead the way in this regard, demonstrating excellence and superiority, and a willingness to participate in the global arena.”
Charles Johnson, senior manager, J.S. Johnson, said that the insurance industry shares concerns with others regarding growing inequality nationally and seeks to address it where it can.
“J.S. Johnson has always been adaptable to changing market forces and quickly adapts its sales and marketing strategies to match changing times. There is no doubt that customers are now more price-sensitive, which is reflective of the current uncertainty in the economy.
“As a result, we are now far more flexible in structuring insurance coverage for a client – we have more insurance plan variations aimed at multiple markets. This change affects our business model and our marketing initiatives. I doubt total equality for humanity is achievable, but we try and manage it in our sector as best we can to give fair advantage across the board,” concluded Johnson.
About Royal Fidelity BEO
Royal Fidelity BEO 2016 is slated to occur at Atlantis resort, Paradise Island on Thursday, January 21. Full details and registration are available at www.royalfidelitybeo.com. Registration is $400 and includes a welcome breakfast, eight sessions featuring a world class line up of speakers, local panel discussion, lunch and an end of day cocktail reception.
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