1960s

The Bahamas enjoys tourism growth while becoming a destination of the jet-set crowd.

1973-1992

Achieves independence but suffers through 20 years of "growing pains" as the administration fails to invest in infrastructure, doesn't attract foreign investment, and reputedly has many ties with drug runners.  As a result, foreign investment bypasses the Bahamas and lands 800 miles further down the Caribbean in places like St. Barts, St. Thomas, and St Martin.  On Exuma, roads and other infrastructure deteriorate.  No direct flights from the U.S.  Tourism stagnates, and property values languish.

1992-2002

New administration is elected and changes things for the better.  Exuma gets newly paved roads.  The airport is extended to 8000 feet (1.5 miles).  New water and electric lines are implemented.  A U.S. Army helicopter base (anti-drug) is placed on Great Exuma, creating a direct U.S. military presence on the island.  Starting in 1998, one daily roundtrip flight out of Miami (during season).

Feb. 2002

After years of delays, Four Seasons/Emerald Bay (www.emeraldbayresort.com) gets its full $140 million debt funding and ramps up the 800 workers on site to finish the resort.  This 470-acre resort (when complete) will transform all of the Southern Bahamas.

Jan. 2003

A small group of investors led by developer Fred Wetzelberger and financier Steve Harrington purchase The Palms Hotel and the 16 acre site surrounding it.  The plans are for a 150 unit condominium resort complete with a small hotel, restaurant, and retail space.  The site is located 2 miles from Emerald Bay and is deemed to have the best beach on the island.

June 2003

Announcement of the second major resort for Great Exuma.  Crab Cay (www.crabcay.com) resort will be a $240 million resort, boasting a meg-yacht  marina and homesites ranging from $3.8 to $10 million.  An all villa, $2,000 per night boutique hotel will anchor the project.  Owners are billionaires and are fully financed.  This project confirms that Exuma will be the high-end destination in the Bahamas.  The prime minister says that once the two mega-yacht marinas are complete, Great Exuma will be known as the Bahamian Riviera.

Dec. 2003

Four Seasons/Emerald Bay opens and is an instant success.  Occupancy rates are close to 100% in the winter/spring and surprisingly high (80% to 100%) over the ensuing summer.  Management had expected a 50% rate in the summer.  These rates were achieved with a resort that doesn't even have its marina or casino open yet.

Apr. 2004

Emerald Bay starts construction to enlarge their marina due to high demand.

Spring 2004

Celebrity sights abound.  Mick Jagger, Greg Norman, Jimmy Buffet, Warren Buffet, Bill Gates (3 times in 2004), and many others visit Exuma.  AOL founder Steve Case purchases eight condos at Emerald Bay and four homesites.  Actor Johnny Depp purchases a small 35 acre island just off of Great Exuma.  Demi Moore, Michael Jordan, Nicholas Cage rumored to be interested in buying at Crab Cay.  David James Elliot (the actor from TV series "Jag") bought a house on the beach on Exuma and a homesite at Emerald Bay (reportedly paid $2 million for each purchase).  Note: As silly as it may seem, the actions of the rich and famous do affect property values. For example, Billy Joel's purchase of a house in Turks and Caico in the mid-nineties helped usher in a real estate boom that led beach property values to grow more than 20 fold in many areas.

Summer 2004

New bank and upscale grocery store next to Emerald Bay begin construction (complete Mar. 2005).

Dec. 2004

Direct flights from U.S. increases to six per day.

Spring 2005

Emerald Bay's 24-acre mega-yacht marina opens.  It will be the largest in the Bahamas (3 times the size of the Atlantis marina) and will be the "shot heard round the cruising world."

Summer 2005

Emerald Bay Casino opens.  A 6,000 sq. ft. European style casino (high class, few slots, dress code, mostly table games).  Think James Bond in the Tropics.

2006-2007

The opulent Crab Cay Resort and Marina opens and Great Exuma becomes the top Caribbean destination for the rich and super-rich.

Conclusion

It is the well-informed assessment of this author that Great Exuma is in its third year of an eight-year (2001-2008) transformation into becoming the most desired high-end destination in the Caribbean.  It is already a forgone conclusion that Exuma is the "chosen island" of the Bahamas.  Even the owner of The Atlantis Resort (Sol Kerzner) on Nassau admitted that "the future of the Bahamas is Exuma."

The government has committed many millions of dollars to prepare this island's infrastructure for the two mega resorts.  The two resorts are presently feverishly building amenities to satisfy the needs of their demanding clientele.  Their clientele are going to demand numerous air flights, an efficient airport, a hospital, good roads, clean water, state-of-the-art telecommunications, numerous restaurants, golf courses, a casino, marinas, grocery stores and much more.

All property owners on the island will benefit greatly from this transformation.  This website will be updated from time to time to bear witness to this transformation.  Stay tuned.