The Nation newspaper says the Government of Barbados now has $150 million into Hotels and Resorts – otherwise known as the GEMS scandal – after pouring in another $3 million.
I’m not sure I believe the Nation. I think it’s a lot more than $150 million of our tax money has been poured down that hole in the ground – and that’s not counting all the “free” marketing and subsidies that have been thrown at GEMS over the years through the Barbados Tourism Authority budget. (Oh… they thought we stupid taxpayers missed that trick for hiding the expenditures!)
Wouldn’t it be nice (or at least useful) if citizens could put in a freedom of information request to learn how much of our money has been put into this failed business model?
What do you think folks? Is $150 million a believable figure for how much we’ve lost through GEMS Hotels or is there more to it?
Nation News article: $1.1 million Arch Cot bill