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Home :: Trade Leads By Country : Bahamas



BAHAMAS

Bahamas, Countries by TradeBahamas, Countries by Trade

Introduction

Tourism for the Bahamas have been the backbone and no doubt they are a proud part of it.The main reason that is stated time and again that Bahamas as a country has been blessed with a lot of opportunity due to the only fact that it has a lot of geographical proximity with the United states of America that is a influential country in the world market today.As already indicated, tourism has been the motor of the Bahamian economy for the past several decades; the nation's geography, including its climate, natural beauty, and proximity to the United States, have made it a prime tourist spot.The country has had a balance in all the activities that they have taken up and the growth rate has been very steady.The government has successfully implemented policies to increase private confidence and investment in the sector. It has transformed tourism into a year-round industry.


Business and Economy

Like discussed Due to the influence of the USA the Bahamas is a stable, developing nation with an economy heavily dependent on tourism and offshore banking. It is a out right fact that the tourism department alone accounts for more than 60% of GDP and directly or indirectly employs half of the archipelago's labor force.As a result of te boomin tourism business there is a boom in the infrastructure creation and hotel industry that seem to be raking leaps year after year. As for the revenue is concerned the tourism is a contributor apart from that the other sources are the manufacturing and agriculture which together contribute approximately a tenth of GDP and show little growth, despite government incentives aimed at those sectors.


Major Cities

Some of the beautiful places that mainly comprise of islands are Abaco ,Acklin's Island ,Andros ,Berry Islands ,Bimini Islands, Cat Island, Crooked Island (incl. Long Cay),EleutheraExuma & Cays Grand Bahama, Harbour Island ,Inagua Long Island, Mayaguana, New Providence, Ragged Islands, Rum Cay,San Salvador, Spanish Wells and Other islands, cays & rocks.


Fact Sheet

Population: 314,000 (2003e)
Capital: Nassau 171,542
Pop. Growth Rate: 0.86% (2002e)
Total Area: 13,939 km2
Currency: $CAN = 0.77 Bahamian dollars (average 2005)
Language: English (official)
Literacy: 98.2%(98.5%M/98%F) (1998e)
Life Expectancy: 70.46: 67.2M/73.7F (2001e)
UN Development Index (2005): 51 among 177 countries
National Day: July 10 (1973 Independence Day)
GDP: C$3.658 billion
Real GDP Growth Rate: 3.4%
GDP per Capita: C$26,113
Inflation Rate: 2.0%
Unemployment Rate: 10.8% (Jun03)
Total External Debt: C$895.5 million
Defence Expenditures: US$20 million (1999) CIA




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