Bahamas

The Commonwealth of The Bahamas is an independent English-speaking nation in the West Indies. An archipelago of 700 islands and cays (which are small islands), the Bahamas is located in the Atlantic Ocean, east of Florida in the United States, north of Cuba and the Caribbean, and west of the British dependency of the Turks and Caicos Islands.

Economy

Main article: Economy of the Bahamas

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The Bahamas is a stable, developing nation with an economy heavily dependent on tourism and offshore banking. Tourism alone accounts for more than 60% of GDP and directly or indirectly employs almost half of the archipelago's labour force. Steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences have led to solid GDP growth in recent years.

Related Topics:
Tourism - Banking - GDP - Hotel

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Manufacturing and agriculture together contribute approximately a tenth of GDP and show little growth, despite government incentives aimed at those sectors. Overall growth prospects in the short run rest heavily on the fortunes of the tourism sector, which depends on growth in the United States, the source of the majority of tourist visitors.

Related Topics:
Manufacturing - Agriculture - United States

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