NASSAU, Bahamas -- While the global economy lurches unpredictably, it seems something rather interesting is happening in the tropical Bahamas.
The longtime Caribbean holiday haunt is experiencing a mini-boom, with international billion-dollar developments and business investments rapidly moving forward.
While the Atlantis resort on the Bahamas' Paradise Island is considered a landmark achievement, Baha Mar, an ambitious $3.5 billion resort on New Providence, is due for completion in December 2014 and expected to follow the lead of Atlantis. The resort is preparing to impress a mostly adult clientele with 3,000 feet of white-sand beach, hotels, Vegas-style casino, shopping, a Jack Nicklaus Signature golf course, pools, restaurants, clubs and bars.
In southwestern New Providence lies the Albany resort community, developed on 600 oceanfront acres by the Bahamas-based Tavistock Group, golf legends Tiger Woods and Ernie Els.
Tennis star Roger Federer counts among the celebrities who choose the high-class destination, boasting a marina, 18-hole golf course, hi-tech gyms, a stable and children's clubs.
This hive of activity has also boosted interest among second-home seekers looking for a secure, peaceful place that is easily accessible but also within reach of the action - developments like Caves Heights, a private residential oceanfront community set on seven private acres dotted with exotic palms and flora on the north coast of New Providence, are proving an attractive, affordable investment.