Originally Published on September 10, 2015
The Cape Breton Star – http://capebretonstar.ca/2015/09/09/the-bay-of-absurdity/
I’m not an economist. I guess that’s why the logic behind the Nova Star Ferry eludes me. As you may have read recently in the news, we (taxpayers) are well on our way to spending $13-million this year to keep the Nova Star running between Yarmouth and Portland, Maine. Oh, and we mustn’t forget the $28-million we spent last year.
This is excellent news … for the residents of Maine. According to the Portland Press Herald, “Nova Star will use Portland as its home port. That means Portland-area vendors will be supplying fuel and services”.
But it’s good for Nova Scotia, too, right? The Nova Scotia International Ferry Partnership estimated that a season with one hundred-thousand visitors would pump $16.3-million into our economy. Well, it would, but last year we only saw about sixty-thousand visitors and we are on target for about the same again this year. Based on that, with my limited math skills, I figure that each Nova Star visitors contribute less than $10-million to our economy each year.
Now, compare that to Sydney.
Almost one hundred-thousand visitors will arrive in Sydney on cruise ships this year; similar to last year and the year before. According to the Port of Sydney, cruise ship activity will contribute about $27-million to the local economy.
It stands to reason that if the provincial government were to budget tens of millions for the Port of Sydney, like they have for the Nova Star in Yarmouth, the investment would result in an even greater boost to the provincial economy. But, alas, I’m just a writer – not an economist.