In 2003, The Bahamas was a developing country located in the Caribbean region. Its economy was mainly based on tourism, banking, and financial services, with some manufacturing and agriculture also playing an important role. Infrastructure was in need of improvement throughout the country but education levels were high. Unemployment had decreased since the 1990s but still remained relatively high in certain areas. According to computergees, the government at this time was stable with strong democratic institutions and a commitment to free-market capitalism. Foreign investment had increased significantly in recent years due to The Bahamas’ favorable business climate and proximity to the United States. Tourism also played a major role in driving economic growth due to its stunning beaches, vibrant culture, and world-renowned cuisine. The Bahamas’ capital city Nassau had become one of the most important financial centers in the Caribbean at this time and had attracted many international businesses looking for a base of operations within the region.
Yearbook 2003
Bahamas. During the year, five school boys aged 11 to 14 disappeared inexplicably on the main island of Grand Bahama. According to Countryaah.com, Bahamas Independence Day is July 10. The public was shocked by the disappearance and rumors spread that it was a serial murder or that a devil sect was behind it. Both the British Scotland Yard and the US FBI helped the Bahamas police investigate the disappearances. When one of the boys was found dead, it eventually led to four boys aged 11 to 15 in October being arrested and charged for involvement in the boy’s death.
Economy
| Inflation rate | 1.40% |
| Unemployment rate | 10.1% |
| Gross domestic product (GDP) | $ 12,060,000,000 |
| GDP growth rate | 1.40% |
| GDP per capita | $ 32,400 |
| GDP by sector | |
| Agriculture | 2.30% |
| Industry | 7.70% |
| Service | 90.00% |
| State budget | |
| Revenue | 1.03 billion |
| Expenditure | 1.03 billion |
| Proportion of the population below the national poverty line | 9.3% |
| Distribution of household income | |
| Top 10% | 27% |
| Lower 10% | k. A. |
| Industrial production growth rate | 1.50% |
| Investment volume | |
| National debt | 54.60% of GDP |
| Foreign exchange reserves | $ 922,100,000 |
| Tourism | 2014 |
| Number of visitors | 1,427,000 |
| Revenue | $ 2,470,000,000 |
Federal Republic of The Bahamas Brief Guide
According to AbbreviationFinder, the Bahamas island nation in the Northern Caribbean consists of more than three thousand islands and is one of the most popular travel destinations in the Caribbean offering high quality services. It is the most prosperous state in the Western hemisphere after the United States and Canada.
The main islands of the Bahamas are sixteen and each offers a different experience for the tourist; turquoise blue sea, pink, white or golden sandy beaches, rainforests, coral reefs, golf, sailing, quality restaurants and luxury hotels. Between the largest islands, Bimin, Nassau, Paradise Island and Grand Bahama, it is easy to travel on domestic flights and the smallest islands can be conveniently reached by boat or helicopter, making island hopping in the Bahamas effortless.
The Bahamas offers a variety of activities from island history and pirate museums to nature hiking, horseback riding, golf, sailing, diving and snorkeling. The main islands have good shopping and quality restaurants. Accommodation options on the islands range from sumptuous private villas to all-inclusive beachfront resorts – specializing in the Bob Marley family-owned resort in Nassau!
| Language | English |
| Population | 350 000 |
| Area | A total of 13,800 km 2 |
| Currency | Bahamian dollar or US dollar |
| How to fly | Via Miami, London or New York |
| Stop-over recommendation |
New York or Miami |
| Ship connections | Intra-Bahamian and inter-island connections |
| Combine | The proximity of Florida makes the Bahamas a good beach resort for visitors to Orlando theme parks (Dinsney, Lego, Sea World, etc.), for example. The Bahamas is also a popular transit country between the United States and Cuba, as a direct connection is not possible due to the trade embargo. |
| Inauguration at | Succeed |
| Golf | Yes, numerous good quality fields on all the main islands |
| The best time to travel | Between January-May or November-December |
POPULATION AND ECONOMIC CONDITIONS
Over the last few decades the population of the archipelago (296. 000 residents According to an estimate of 1998) has grown at a very modest rate: less than the ‘ 1 % between 1970 and 1980 and slightly higher than in subsequent years. It is made up of 86 % of blacks and mestizos, the rest is of European origin. The increase in the urban population was remarkable (86.5 %); in particular the capital, Nassau, currently hosts about 60 % of the total population.
The economy of the country, once based on the products of agriculture, forest and sea, is now almost exclusively oriented towards the tertiary sector, which contributes to the formation of the GDP for about 86 %. In particular, play a leading role in tourism (with over 3, 4 million arrivals per year), financial assets offshore and bank (located there over 400 lenders). Since 1976, the year in which the naval register was established, the merchant navy has grown considerably, which, with 1176 ships and over 23, 6 million tons of gross tonnage (1995), ranks today among the largest in the world. As a function of this new economic structure of the country, the organization of the territory has also undergone profound changes, determined by the rise of large accommodation facilities and new manufacturing industries, while at the same time the communication infrastructures have had a significant boost: the road network has reached almost 3400 km, and new ports and airports were built. The United States, from which about 90 % of tourists and major capital investments come, is also the Bahamas’s main trading partner, supplying over 90 % of imports and absorbing 81 % of exports (1996).