BAHAMAS ECONOMY |
| |
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.
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. |
|
| |
|
