You can make "some" money if you have locals supporting the effort. The best formula is Staniel Cay. They own the place AND the airline to provide access. The locals on that island benefit from the Hocker family. An example is Christmas time and the "summer camp" for the kids that the YC operates.

There is also a big problem with clear title. I heard that was the problem with Royal Island. They big money behind them but in the end, not clear title. Tom you are right on with the political comment. The current government isn't fond of outsiders as much as the last one. Even the big places that thought they had a "deal" get fooled. Look at Atlantis. They had an "agreement" and they lost their monopoly on Nassau when the Chinese got approval for the Cable Beach development. There are no guarantees down there.