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Only about 0.8% of the Bahamas' land area is arable, about 140 square km (54 square miles). [5] Most arable land is on New Providence, Abaco, Andros, and Grand Bahama islands; challenges for Bahamian agriculture include limited fresh water resources for irrigation, the difficulties of inter-island transport of goods in the archipelago, a lack of human capital, the country's small size (which ...
The only other current industry of note is tourism. Albeit limited, there is a small upscale ecotourism lodge, a 36-room traditional hotel and as well the management of "bonefish lodges," small hotels which offer all-inclusive packages for tourists wishing to fish the world-famous "bonefish flats" of the southeastern fringe of the island. As of ...
The Bahamian economy is almost entirely dependent on tourism and financial services to generate foreign exchange earnings. The Gross Domestic Product (GDP) of the Bahamas is approximately $5.7 billion with tourism accounting for 50%, financial services nearly 20% and the balance spread among retail and wholesale trade, fishing, light manufacturing and agriculture. [9]
For example, in February 2020, fishing in the Dominican Republic was a 93.4 million USD industry, but illegal activity by both local and foreign fishers from Honduras, Nicaragua, and South Korea have caused a deficit in fish; as a result, the country is forced to import fish that could otherwise by caught or farmed within its sovereign borders.
The company is a part of Sandals Resorts International (SRI), which also operates Beaches Resorts, Fowl Cay Resort, and several private villas. Founded by Jamaican-born entrepreneur Gordon "Butch" Stewart in 1981, SRI is based in Montego Bay , Jamaica and is responsible for development, service standards, training, and day-to-day operations of ...
Tourism is a huge contributor to the economies of all Caribbean countries and the biggest contributor to many of them such as Antigua and Barbuda, Bahamas and the Virgin Islands. [ citation needed ] It provides a steady revenue stream, with temporary blips due to hurricanes or recessions in the Western world [ 17 ] and supports local farming ...
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In the 19th and early 20th centuries (1841–1938), Greek spongers immigrated to Andros for the rich sponge fishing on the Great Bahama Bank off Andros' west coast. For a period of years, Andros sponging was The Bahamas' largest industry. In the 1930s, the sponges were wiped out by a Red Tide infestation.
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