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The economy of the Bahamas is dependent upon tourism and offshore banking. The Bahamas is the richest country in the West Indies and is ranked 14th in North America for nominal GDP. [ 8 ] It is a stable, developing nation in the Lucayan Archipelago , with a population of 391,232 (2016).
In terms of gross domestic product per capita, the Bahamas is one of the richest countries in the Americas (following the United States and Canada), with an economy based on tourism and finance. [1] Tourism alone provides an estimated 45% of the gross domestic product (GDP) and employs about half the Bahamian workforce.
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. The sponging industry died, and the spongers left the island for Key West, and Tarpon Springs, Florida. Thousands of unemployed Bahamians moved to the village of Coconut Grove near Miami. [13]
Great Inagua is the second largest island in the Bahamas at 596 sq mi (1544 km 2) and lies about 55 miles (89 kilometres) from the eastern tip of Cuba.The island is about 55 by 19 mi (89 by 31 km) in extent and mostly flat with some sand hills, the highest points being East Hill at 132 ft (40 m), Salt Pond Hill at 102 ft (31 m), and James Hill at 90 ft (27 m). [4]
Companies of the Bahamas by industry (8 C) S. Service industries in the Bahamas (6 C) This page was last edited on 24 January 2020, at 20:22 (UTC). Text ...
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 ...
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It included a partnership between Genting Malaysia Berhad and RAV Bahamas, the developer of Bimini Bay and the Rockwell Island Beach Estates. [3] The Resorts World Bimini Casino opened in June 2013. It is the only casino on the island and the closest offshore casino to South Florida .