The CIA World Factbook Every edition, 1990 to 2025 Central America and the Caribbean
Economic overview The Bahamas, in 36 editions.
The entry for The Bahamas published Economic overview in 36 editions of 36, from 1990 to 2025. The text changed in 26 editions. Each is shown as published. Economic overview in every entry.
- editions changed the text
- 26
- the first edition with it
- 1990
- the latest edition with it
- 2025
Published as “Overview” (1990 to 1995), “Economic overview” (1996 to 2025), “Economy - overview” (1997 to 2019), “Economy-overview” (1998) and “Economy--overview” (1999).
field in that editiontext changed from the edition beforenot in that editionthe edition shownChoose an edition on the strip beside the text, or step through them with the arrows. Mark changes compares it with the edition before: the marks are ours, words added and words removed.
2025 edition
Same as 2024Published as “Overview”
The Bahamas is a stable, middle-income developing nation whose economy is based primarily on tourism and offshore banking. Tourism alone provides about 50% of GDP and directly or indirectly employs about 50,000 people or 40% of the local work force. The economy has boomed in recent years, aided by a steady annual increase in the number of tourists. The per capita GDP of over $9,800 is one of the highest in the region.
The Bahamas is a stable, middle-income developing nation whose economy is based primarily on tourism and offshore banking. Tourism alone provides about 50% of GDP and directly or indirectly employs about 50,000 people or 40% of the local work force. The economy has boomed in recent years, aided by a steady annual increase in the number of tourists. The per capita GDP of over $9,800 is one of the highest in the region.
Published as “Overview”
The Bahamas is a stable, middle-income developing nation whose economy is based primarily on tourism and offshore banking. Tourism alone provides about 50% of GDP and directly or indirectly employs about 50,000 people or 40% of the local work force. The economy has slackened in recent years, as the annual increase in the number of tourists slowed. Nonetheless, the per capita GDP of $9,800 is one of the highest in the region.
The Bahamas is a stable, middle-income developing nation whose economy is based primarily on tourism and offshore banking. Tourism alone provides about 50% of GDP and directly or indirectly employs about 50,000 people or 40% of the local work force. The economy has boomed slackened in recent years, aided by a steady as the annual increase in the number of tourists. The tourists slowed. Nonetheless, the per capita GDP of over $9,800 is one of the highest in the region.
Published as “Overview”
The Bahamas is a stable, middle-income developing nation whose economy is based primarily on tourism and offshore banking. Tourism alone provides about 50% of GDP and directly or indirectly employs about 50,000 people or 40% of the local work force. The economy has slackened in recent years, as the annual increase in the number of tourists slowed. Nonetheless, the per capita GDP of $9,900 is one of the highest in the region.
The Bahamas is a stable, middle-income developing nation whose economy is
based primarily on tourism and offshore banking. Tourism alone provides
about 50% of GDP and directly or indirectly employs about 50,000 people or
40% of the local work force. The economy has slackened in recent years, as
the annual increase in the number of tourists slowed. Nonetheless, the per
capita GDP of $9,800 $9,900 is one of the highest in the region.
Published as “Overview”
The Bahamas is a stable, middle-income, developing nation whose economy is based primarily on tourism and offshore banking. Tourism alone provides about 50% of GDP and directly or indirectly employs about 50,000 people or 40% of the local work force. The economy has slackened in recent years, as the annual increase in the number of tourists slowed. Nonetheless, per capita GDP is one of the highest in the region.
The Bahamas is a stable, middle-income middle-income, developing nation whose economy is
based primarily on tourism and offshore banking. Tourism alone provides
about 50% of GDP and directly or indirectly employs about 50,000 people or
40% of the local work force. The economy has slackened in recent years, as
the annual increase in the number of tourists slowed. Nonetheless, the per
capita GDP of $9,900 is one of the highest in the region.
Published as “Overview”
The Bahamas is a stable, developing nation whose economy is based primarily on tourism and offshore banking. Tourism alone provides about 40% of GDP and directly or indirectly employs about 50,000 people or 40% of the local work force. The economy has slackened in recent years, as the annual increase in the number of tourists slowed. Nonetheless, per capita GDP is one of the highest in the region.
The Bahamas is a stable, middle-income, developing nation whose economy is
primarily on tourism and offshore banking. Tourism alone provides
about 50% 40% of GDP and directly or indirectly employs about 50,000
people or
recent years, as
Nonetheless, per
Published as “Overview”
The Bahamas is a stable, developing nation whose economy is based primarily on tourism and offshore banking. Tourism alone provides about 50% of GDP and directly or indirectly employs about 50,000 people or 40% of the local work force. The economy has slackened in recent years, as the annual increase in the number of tourists slowed. Nonetheless, per capita GDP is one of the highest in the region.
The Bahamas is a stable, developing nation whose economy is based
based primarily on tourism and offshore banking. Tourism alone provides
provides about 40% 50% of GDP and directly or indirectly employs about 50,000
50,000 people or 40% of the local work force. The economy has
slackened in
tourists slowed.
the region.
The Bahamas is a stable, developing nation with an economy heavily dependent on tourism and offshore banking. Tourism alone accounts for more than 50% of GDP and directly or indirectly employs 40% of the archipelago's labor force. A slowdown in the expansion of the tourism sector - especially stopover travel from Europe - led to a reduction in the country's GDP growth rate in 1995, down to an estimated 2% from 3.5% in 1994.
The construction sector benefited from hotel rehabilitation and the government's ongoing housing development program. Earnings from exports of vegetable and citrus production have been decreasing since 1993 but are expected to increase in 1996 due to storm damage to crops in Florida. The overall growth prospects through 1996 will depend heavily on the fortunes of the tourism sector and continued income growth in the US, which accounts for the majority of tourist visits.
Rewritten: too little of the 1995 text remains to mark the changes.
The Bahamas is a stable, developing nation with
an economy heavily dependent on tourism and offshore banking.
Tourism alone accounts for more than 50% of GDP and directly or
indirectly employs 40% of the archipelago's labor force. A slowdown
in the expansion of the tourism sector - especially stopover travel
from Europe - led to a reduction in the country's GDP growth rate in
1995, down to an estimated 2% from 3.5% in 1994. The construction
sector benefited from hotel rehabilitation and the government's
ongoing housing development program. Earnings from exports of
vegetable and citrus production have been decreasing since 1993 but
are expected to increase in 1996 due to storm damage to crops in
Florida. The overall growth prospects through 1996 will depend
heavily on the fortunes of the tourism sector and continued income
growth in the US, which accounts for the majority of tourist visits.
Published as “Economy - overview”
The Bahamas is a stable, developing nation with an economy heavily dependent on tourism and offshore banking. Tourism alone accounts for more than 50% of GDP and directly or indirectly employs 40% of the archipelago's labor force. A slowdown in the expansion of the tourism sector - especially stopover travel from Europe - led to a reduction in the country's GDP growth rate in 1995, down to an estimated 2% from 3.5% in 1994.
The construction sector benefited from hotel rehabilitation and the government's ongoing housing development program. Earnings from exports of vegetable and citrus production have been decreasing since 1993 but were expected to increase in 1996 due to storm damage to crops in Florida. Overall growth prospects in the short run will depend heavily on the fortunes of the tourism sector and continued income growth in the US, which accounts for the majority of tourist visits.
The Bahamas is a stable, developing nation with
economy heavily dependent on tourism and offshore banking.
alone accounts for more than 50% of GDP and directly or
employs 40% of the archipelago's labor force. A slowdown
expansion of the tourism sector - especially stopover travel
Europe - led to a reduction in the country's GDP growth rate in
down to an estimated 2% from 3.5% in 1994. The construction
benefited from hotel rehabilitation and the government's
housing development program. Earnings from exports of
citrus production have been decreasing since 1993 but
are
increase in 1996 due to storm damage to crops inThe overall Overall
growth prospects through 1996 in the short run will depend
of the tourism sector and continued income
accounts for the majority of tourist visits.
Entry published as “Bahamas, The”.
Published as “Economy-overview”
The Bahamas is a stable, developing nation with an economy heavily dependent on tourism and offshore banking. Tourism alone accounts for more than 50% of GDP and directly or indirectly employs 40% of the archipelago's labor force. Moderate growth in tourism receipts and a boom in construction of new hotels, resorts, and residences led to an increase of the country's GDP by an estimated 3.5% in 1997. Manufacturing and agriculture together contribute less than 10% of GDP and show little growth despite government incentives aimed at those sectors. Overall growth prospects in the short run will depend heavily on the fortunes of the tourism sector and continued income growth in the US, which accounts for the majority of tourist visitors.
The Bahamas is a stable, developing nation with an
economy heavily dependent on tourism and offshore banking. Tourism
alone accounts for more than 50% of GDP and directly or indirectly
employs 40% of the archipelago's labor force. A slowdown Moderate growth in theexpansion of the tourism sector - especially stopover travel from receipts and a boom in construction of new hotels, resorts,Europe - and residences led to a reduction in an increase of the country's GDP growth rate in 1995, by an estimated
down to2% from
3.5% in 1994. The construction sector 1997. Manufacturing and
benefited from hotel rehabilitationthe government's ongoing agriculture together contribute lesshousing development program. Earnings from exports than 10% of vegetable GDP and
citrus production have been decreasing since 1993 but were expected toincrease in 1996 due to storm damage to crops in Florida. aimed at those sectors. Overall
depend heavily on the fortunes
income growth in the US, whichvisits.
visitors.
Entry published as “Bahamas, The”.
Published as “Economy--overview”
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 40% of the archipelago's labor force. Moderate growth in tourism receipts and a boom in construction of new hotels, resorts, and residences led to an increase of the country's GDP by an estimated 4% in 1998. Manufacturing and agriculture together contribute less than 10% of GDP and show little growth, despite government incentives aimed at those sectors. Overall growth prospects in the short run will depend heavily on the fortunes of the tourism sector and continued income growth in the US, which accounts for the majority of tourist visitors.
The Bahamas is a stable, developing nation with an
an economy heavily dependent on tourism and offshore banking. Tourism
Tourism alone accounts for more than 50% 60% of GDP and directly or indirectly
indirectly employs 40% of the archipelago's labor force. Moderate
growth inresorts,
resorts, and residences led to an increase of the country's GDP by
an estimated
3.5%1997. 1998. Manufacturing and agriculture together
contribute lessgrowth growth, despite
government incentives
prospects in the short run will
the tourism sector and continued
accounts for the majority of tourist
Entry published as “Bahamas, The”.
Published as “Economy - overview”
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 40% of the archipelago's labor force. Moderate growth in tourism receipts and a boom in construction of new hotels, resorts, and residences led to an increase of the country's GDP by an estimated 3% in 1998. Manufacturing and agriculture together contribute less than 10% of GDP and show little growth, despite government incentives aimed at those sectors. Overall growth prospects in the short run will depend heavily on the fortunes of the tourism sector and continued income growth in the US, which accounts for the majority of tourist visitors.
The Bahamas is a stable, developing nation with4% 3% in 1998. Manufacturing and agriculture together
Entry published as “Bahamas, The”.
Published as “Economy - overview”
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 40% of the archipelago's labor force. Moderate growth in tourism receipts and a boom in construction of new hotels, resorts, and residences led to an increase of the country's GDP by an estimated 3% in 1998, 6% in 1999, and 4.5% in 2000.
Manufacturing and agriculture together contribute only 10% of GDP and show little growth, despite government incentives aimed at those sectors. Overall growth prospects in the short run will depend heavily on the fortunes of the tourism sector and continued sturdy growth in the US, which accounts for the majority of tourist visitors.
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 40% of the archipelago's labor force. Moderate growth in tourism receipts and a boom in construction of new hotels, resorts, and residences led to an increase of the country's GDP by an estimated 3% in 1998. 1998, 6% in 1999, and 4.5% in 2000. Manufacturing and agriculture together contribute less than only 10% of GDP and show little growth, despite government incentives aimed at those sectors. Overall growth prospects in the short run will depend heavily on the fortunes of the tourism sector and continued income sturdy growth in the US, which accounts for the majority of tourist visitors.
Entry published as “Bahamas, The”.
Published as “Economy - overview”
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 labor 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 US, the source of the majority of tourist visitors.
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 40% almost half of the archipelago's labor force. Moderate Steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences have led to an increase of the country's solid GDP by an estimated 3% in 1998, 6% in 1999, and 4.5% growth in 2000. recent years. Manufacturing and agriculture together contribute only 10% approximately a tenth of GDP and show little growth, despite government incentives aimed at those sectors. Overall growth prospects in the short run will depend rest heavily on the fortunes of the tourism sector and continued sturdy sector, which depends on growth in the US, which accounts for the source of the majority of tourist visitors.
Entry published as “Bahamas, The”.
Published as “Economy - overview”
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 half of the archipelago's labor force. Steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences had led to solid GDP growth in recent years, but the slowdown in the US economy and the attacks of 11 September 2001 held back growth in these sectors in 2002.
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 US, the source of most of the visitors.
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 labor force. Steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences have had led to solid GDP growth in recent years. years, but the slowdown in the US economy and the attacks of 11 September 2001 held back growth in these sectors in 2002. 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 US, the source of the majority most of tourist the visitors.
The same text in 2004 and 2005.
Entry published as “Bahamas, The”.
Published as “Economy - overview”
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 half of the archipelago's labor force. Steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences had led to solid GDP growth in recent years, but the slowdown in the US economy and the attacks of 11 September 2001 held back growth in these sectors in 2001-03.
Financial services constitute the second-most important sector of the Bahamian economy, accounting for about 15% of GDP. However, since December 2000, when the government enacted new regulations on the financial sector, many international businesses have left The Bahamas. 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 US, the source of more than 80% of the visitors. In addition to tourism and banking, the government supports the development of a "third pillar," e-commerce.
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 half of the archipelago's labor force. Steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences had led to solid GDP growth in recent years, but the slowdown in the US economy and the attacks of 11 September 2001 held back growth in these sectors in 2002. 2001-03. Financial services constitute the second-most important sector of the Bahamian economy, accounting for about 15% of GDP. However, since December 2000, when the government enacted new regulations on the financial sector, many international businesses have left The Bahamas. 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 US, the source of most more than 80% of the visitors. In addition to tourism and banking, the government supports the development of a "third pillar," e-commerce.
The same text in 2006 and 2007.
Entry published as “Bahamas, The”.
Published as “Economy - overview”
The Bahamas is a stable, developing nation with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences had led to solid GDP growth in recent years, but the slowdown in the US economy and the attacks of 11 September 2001 held back growth in these sectors in 2001-03.
The current government has presided over a period of economic recovery and an upturn in large-scale private sector investments in tourism. Financial services constitute the second-most important sector of the Bahamian economy, accounting for about 15% of GDP. However, since December 2000, when the government enacted new regulations on the financial sector, many international businesses have left The Bahamas. 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 US, the source of more than 80% of the visitors.
The Bahamas is a stable, developing nation with an economy heavily dependent on tourism and offshore banking. Tourism alone together with tourism-driven construction and manufacturing accounts for more than approximately 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences had led to solid GDP growth in recent years, but the slowdown in the US economy and the attacks of 11 September 2001 held back growth in these sectors in 2001-03. The current government has presided over a period of economic recovery and an upturn in large-scale private sector investments in tourism. Financial services constitute the second-most important sector of the Bahamian economy, accounting for about 15% of GDP. However, since December 2000, when the government enacted new regulations on the financial sector, many international businesses have left The Bahamas. 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 US, the source of more than 80% of the visitors. In addition to tourism and banking, the government supports the development of a "third pillar," e-commerce.
Entry published as “Bahamas, The”.
Published as “Economy - overview”
The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences had led to solid GDP growth in recent years, but tourist arrivals have been on the decline since 2006.
Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 36% of GDP. However, since December 2000, when the government enacted new regulations on the financial sector, many international businesses have left The Bahamas. Manufacturing and agriculture combined 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. Tourism, in turn, depends on growth in the US, the source of more than 80% of the visitors.
The Bahamas is a stable, developing nation one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences had led to solid GDP growth in recent years, but the slowdown in the US economy and tourist arrivals have been on the attacks of 11 September 2001 held back growth in these sectors in 2001-03. The current government has presided over a period of economic recovery and an upturn in large-scale private sector investments in tourism. decline since 2006. Financial services constitute the second-most important sector of the Bahamian economy, accounting economy and, when combined with business services, account for about 15% 36% of GDP. However, since December 2000, when the government enacted new regulations on the financial sector, many international businesses have left The Bahamas. Manufacturing and agriculture together combined 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 sector. Tourism, in turn, depends on growth in the US, the source of more than 80% of the visitors.
Entry published as “Bahamas, The”.
Published as “Economy - overview”
The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences had led to solid GDP growth in recent years, but tourist arrivals have been on the decline since 2006 and will likely drop even further in 2009.
Tourism, in turn, depends on growth in the US, the source of more than 80% of the visitors. To help offset the effect of the global economic downturn, particularly on employment, the INGRAHAM administration plans to engage in infrastructure projects. Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 36% of GDP. However, since December 2000, when the government enacted new regulations on the financial sector, many international businesses have left The Bahamas.
Manufacturing and agriculture combined 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.
The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences had led to solid GDP growth in recent years, but tourist arrivals have been on the decline since 2006. 2006 and will likely drop even further in 2009. Tourism, in turn, depends on growth in the US, the source of more than 80% of the visitors. To help offset the effect of the global economic downturn, particularly on employment, the INGRAHAM administration plans to engage in infrastructure projects. Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 36% of GDP. However, since December 2000, when the government enacted new regulations on the financial sector, many international businesses have left The Bahamas. Manufacturing and agriculture combined 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. Tourism, in turn, depends on growth in the US, the source of more than 80% of the visitors.
Entry published as “Bahamas, The”.
Published as “Economy - overview”
The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Prior to 2006, a steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences led to solid GDP growth but since then tourism receipts have begun to drop off.
The global recession in 2009 took a sizeable toll on the Bahamas, resulting in a contraction in GDP and a widening budget deficit. The decline continued in 2010 as tourism from the US and sector investment lagged. Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 36% of GDP. However, the financial sector currently is smaller than it has been in the past because of the enactment of new and more strict financial regulations in 2000 that caused many international businesses to relocate elsewhere.
Manufacturing and agriculture combined 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.
The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Steady Prior to 2006, a steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences had led to solid GDP growth in recent years, but tourist arrivals since then tourism receipts have been begun to drop off. The global recession in 2009 took a sizeable toll on the decline since 2006 and will likely drop even further Bahamas, resulting in 2009. Tourism, a contraction in turn, depends on growth GDP and a widening budget deficit. The decline continued in the US, the source of more than 80% of the visitors. To help offset the effect of the global economic downturn, particularly on employment, 2010 as tourism from the INGRAHAM administration plans to engage in infrastructure projects. US and sector investment lagged. Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 36% of GDP. However, since December 2000, when the government enacted new regulations on financial sector currently is smaller than it has been in the past because of the enactment of new and more strict financial sector, regulations in 2000 that caused many international businesses have left The Bahamas. to relocate elsewhere. Manufacturing and agriculture combined 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.
Entry published as “Bahamas, The”.
Published as “Economy - overview”
The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Prior to 2006, a steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences led to solid GDP growth but since then tourism receipts have begun to drop off.
The global recession in 2009 took a sizeable toll on the Bahamas, resulting in a contraction in GDP and a widening budget deficit. The decline continued in 2010 as tourism from the US and sector investment lagged. Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 36% of GDP. However, the financial sector currently is smaller than it has been in the past because of the enactment of new and stricter financial regulations in 2000 that caused many international businesses to relocate elsewhere.
Manufacturing and agriculture combined 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.
The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Prior to 2006, a steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences led to solid GDP growth but since then tourism receipts have begun to drop off. The global recession in 2009 took a sizeable toll on the Bahamas, resulting in a contraction in GDP and a widening budget deficit. The decline continued in 2010 as tourism from the US and sector investment lagged. Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 36% of GDP. However, the financial sector currently is smaller than it has been in the past because of the enactment of new and more strict stricter financial regulations in 2000 that caused many international businesses to relocate elsewhere. Manufacturing and agriculture combined 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.
Entry published as “Bahamas, The”.
Published as “Economy - overview”
The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Prior to 2006, a steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences led to solid GDP growth but since then tourism receipts have begun to drop off.
Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 36% of GDP. However, the financial sector currently is smaller than it has been in the past because of the enactment of new and stricter financial regulations in 2000 that caused many international businesses to relocate elsewhere. Manufacturing and agriculture combined contribute approximately a 10th of GDP and show little growth, despite government incentives aimed at those sectors. The Bahamas since 2008 has been hard hit by the global economic crisis; the economy contracted in 2008 and 2009 and growth remains slow.
The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Prior to 2006, a steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences led to solid GDP growth but since then tourism receipts have begun to drop off. The global recession in 2009 took a sizeable toll on the Bahamas, resulting in a contraction in GDP and a widening budget deficit. The decline continued in 2010 as tourism from the US and sector investment lagged. Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 36% of GDP. However, the financial sector currently is smaller than it has been in the past because of the enactment of new and stricter financial regulations in 2000 that caused many international businesses to relocate elsewhere. Manufacturing and agriculture combined contribute approximately a tenth 10th of GDP and show little growth, despite government incentives aimed at those sectors. Overall growth prospects in the short run rest heavily on The Bahamas since 2008 has been hard hit by the fortunes of global economic crisis; the tourism sector. economy contracted in 2008 and 2009 and growth remains slow.
Entry published as “Bahamas, The”.
Published as “Economy - overview”
The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 36% of GDP. Manufacturing and agriculture combined contribute less than a 10th of GDP and show little growth, despite government incentives aimed at those sectors.
The economy of The Bahamas shrank at an average pace of 0.8% annually between 2007-11, and tourism, financial services, and construction - pillars of the national economy - remained weak. These challenges, coupled with a growing public debt, increases in government expenditures, a narrow revenue base, and heavy dependence on customs and property taxes have led to prospects of limited growth for The Bahamas.
The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Prior to 2006, a steady growth in tourism receipts and a boom in construction of new hotels, resorts, and residences led to solid GDP growth but since then tourism receipts have begun to drop off. Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 36% of GDP. However, the financial sector currently is smaller than it has been in the past because of the enactment of new and stricter financial regulations in 2000 that caused many international businesses to relocate elsewhere. Manufacturing and agriculture combined contribute approximately less than a 10th of GDP and show little growth, despite government incentives aimed at those sectors. The economy of The Bahamas since 2008 has been hard hit by the global economic crisis; shrank at an average pace of 0.8% annually between 2007-11, and tourism, financial services, and construction - pillars of the national economy contracted - remained weak. These challenges, coupled with a growing public debt, increases in 2008 government expenditures, a narrow revenue base, and 2009 heavy dependence on customs and property taxes have led to prospects of limited growth remains slow. for The Bahamas.
Entry published as “Bahamas, The”.
Published as “Economy - overview”
The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 35% of GDP. Manufacturing and agriculture combined contribute less than a 10th of GDP and show little growth, despite government incentives aimed at those sectors.
The economy of The Bahamas shrank at an average pace of 0.8% annually between 2007-2011, and tourism, financial services, and construction - pillars of the national economy - remain subdued. Conditions are improving in the tourism sector, however, due to steady foreign investment led activity. New resort and marina developments are likely to provide sustained employment opportunities.
The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 36% 35% of GDP. Manufacturing and agriculture combined contribute less than a 10th of GDP and show little growth, despite government incentives aimed at those sectors. The economy of The Bahamas shrank at an average pace of 0.8% annually between 2007-11, 2007-2011, and tourism, financial services, and construction - pillars of the national economy - remained weak. These challenges, coupled with a growing public debt, increases remain subdued. Conditions are improving in government expenditures, a narrow revenue base, and heavy dependence on customs and property taxes have the tourism sector, however, due to steady foreign investment led activity. New resort and marina developments are likely to prospects of limited growth for The Bahamas. provide sustained employment opportunities.
The same text in 2015 and 2016.
Entry published as “Bahamas, The”.
Published as “Economy - overview”
The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 35% of GDP. Manufacturing and agriculture combined contribute less than one 10th of GDP and show little growth, despite government incentives aimed at those sectors.
The economy of The Bahamas shrank at an average pace of 0.8% annually between 2007 and 2011, and tourism, financial services, and construction - pillars of the national economy - remain subdued. Conditions are improving in the tourism sector, however, due to steady foreign investment led activity. New resort and marina developments are likely to provide sustained employment opportunities.
The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% of GDP and directly or indirectly employs half of the archipelago's labor force. Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account for about 35% of GDP. Manufacturing and agriculture combined contribute less than a one 10th of GDP and show little growth, despite government incentives aimed at those sectors. The economy of The Bahamas shrank at an average pace of 0.8% annually between 2007-2011, 2007 and 2011, and tourism, financial services, and construction - pillars of the national economy - remain subdued. Conditions are improving in the tourism sector, however, due to steady foreign investment led activity. New resort and marina developments are likely to provide sustained employment opportunities.
Entry published as “Bahamas, The”.
Published as “Economy - overview”
The Bahamas has the second highest per capital GDP in the English-speaking Caribbean with an economy heavily dependent on tourism and international banking. Tourism accounts for approximately 75-80% of GDP and directly or indirectly employs half of the archipelago's labor force. Financial services constitute the second-most important sector of the Bahamian economy, accounting for about 15% of GDP. Manufacturing and agriculture combined contribute less than 7% of GDP and show little growth, despite government incentives aimed at those sectors.
On January 1, 2015, the Government introduced a 7.5% Value Added Tax (VAT) on most goods and services, a measure designed to strengthen the fiscal balance sheet. In August 2016, Moody’s downgraded the Bahamas’ bond and issue ratings to Baa3 from Baa2 with a stable outlook, maintaining that rating in its February 2017 review. In December 2016, S&P downgraded the country to BB+ (speculative grade) from BBB- (investment grade) with a stable outlook based on projections of slow economic growth and the pace of debt accumulation. The Bahamas is the only country in the Western Hemisphere that is not a member of the World Trade Organization.
The Bahamas is one of has the wealthiest second highest per capital GDP in the English-speaking Caribbean countries with an economy heavily dependent on tourism and offshore international banking. Tourism together with tourism-driven construction and manufacturing accounts for approximately 60% 75-80% of GDP and directly or indirectly employs half of the archipelago's labor force. Financial services constitute the second-most important sector of the Bahamian economy and, when combined with business services, account economy, accounting for about 35% 15% of GDP. Manufacturing and agriculture combined contribute less than one 10th 7% of GDP and show little growth, despite government incentives aimed at those sectors. The economy of The Bahamas shrank at an average pace of 0.8% annually between 2007 and 2011, On January 1, 2015, the Government introduced a 7.5% Value Added Tax (VAT) on most goods and tourism, financial services, and construction - pillars of a measure designed to strengthen the national economy - remain subdued. Conditions are improving fiscal balance sheet. In August 2016, Moody’s downgraded the Bahamas’ bond and issue ratings to Baa3 from Baa2 with a stable outlook, maintaining that rating in its February 2017 review. In December 2016, S&P downgraded the tourism sector, however, due country to steady foreign investment led activity. New resort BB+ (speculative grade) from BBB- (investment grade) with a stable outlook based on projections of slow economic growth and marina developments are likely to provide sustained employment opportunities. the pace of debt accumulation. The Bahamas is the only country in the Western Hemisphere that is not a member of the World Trade Organization.
The same text in 2018 and 2019.
Entry published as “Bahamas, The”.
Published as “Economy - overview”
The Bahamas has the second highest per capita GDP in the English-speaking Caribbean with an economy heavily dependent on tourism and financial services. Tourism accounts for approximately 50% of GDP and directly or indirectly employs half of the archipelago's labor force. Financial services constitute the second-most important sector of the Bahamian economy, accounting for about 15% of GDP. Manufacturing and agriculture combined contribute less than 7% of GDP and show little growth, despite government incentives aimed at those sectors.
The new government led by Prime Minister Hubert MINNIS has prioritized addressing fiscal imbalances and rising debt, which stood at 75% of GDP in 2016. Large capital projects like the Baha Mar Casino and Hotel are driving growth. Public debt increased in 2017 in large part due to hurricane reconstruction and relief financing. The primary fiscal balance was a deficit of 0.4% of GDP in 2016. The Bahamas is the only country in the Western Hemisphere that is not a member of the World Trade Organization.
The Bahamas has the second highest per capital capita GDP in the English-speaking Caribbean with an economy heavily dependent on tourism and international banking. financial services. Tourism accounts for approximately 75-80% 50% of GDP and directly or indirectly employs half of the archipelago's labor force. Financial services constitute the second-most important sector of the Bahamian economy, accounting for about 15% of GDP. Manufacturing and agriculture combined contribute less than 7% of GDP and show little growth, despite government incentives aimed at those sectors. On January 1, 2015, the Government introduced a 7.5% Value Added Tax (VAT) on most goods and services, a measure designed to strengthen the The new government led by Prime Minister Hubert MINNIS has prioritized addressing fiscal balance sheet. In August 2016, Moody’s downgraded imbalances and rising debt, which stood at 75% of GDP in 2016. Large capital projects like the Bahamas’ bond Baha Mar Casino and issue ratings to Baa3 from Baa2 with a stable outlook, maintaining that rating Hotel are driving growth. Public debt increased in its February 2017 review. In December 2016, S&P downgraded the country in large part due to BB+ (speculative grade) from BBB- (investment grade) with hurricane reconstruction and relief financing. The primary fiscal balance was a stable outlook based on projections deficit of slow economic growth and the pace 0.4% of debt accumulation. GDP in 2016. The Bahamas is the only country in the Western Hemisphere that is not a member of the World Trade Organization.
The same text in 3 editions, 2020 to 2022.
Entry published as “Bahamas, The”.
The Bahamas has the second highest per capita GDP in the English-speaking Caribbean with an economy heavily dependent on tourism and financial services. Tourism accounts for approximately 50% of GDP and directly or indirectly employs half of the archipelago's labor force. Financial services constitute the second-most important sector of the Bahamian economy, accounting for about 15% of GDP. Manufacturing and agriculture combined contribute less than 7% of GDP and show little growth, despite government incentives aimed at those sectors.
The new government led by Prime Minister Hubert MINNIS has prioritized addressing fiscal imbalances and rising debt, which stood at 75% of GDP in 2016. Large capital projects like the Baha Mar Casino and Hotel are driving growth. Public debt increased in 2017 in large part due to hurricane reconstruction and relief financing. The primary fiscal balance was a deficit of 0.4% of GDP in 2016. The Bahamas is the only country in the Western Hemisphere that is not a member of the World Trade Organization.
The Bahamas has the second highest per capita GDP in the English-speaking Caribbean with an economy heavily dependent on tourism and financial services. Tourism accounts for approximately 50% of GDP and directly or indirectly employs half of the archipelago's labor force. Financial services constitute the second-most important sector of the Bahamian economy, accounting for about 15% of GDP. Manufacturing and agriculture combined contribute less than 7% of GDP and show little growth, despite government incentives aimed at those sectors. The new government led by Prime Minister Hubert MINNIS has prioritized addressing fiscal imbalances and rising debt, which stood at 75% of GDP in 2016. Large capital projects like the Baha Mar Casino and Hotel are driving growth. Public debt increased in 2017 in large part due to hurricane reconstruction and relief financing. The primary fiscal balance was a deficit of 0.4% of GDP in 2016. The Bahamas is the only country in the Western Hemisphere that is not a member of the World Trade Organization.
The same text in 3 editions, 2023 to 2025.
Entry published as “Bahamas, The”.
- high-income tourism and financial services economy;
- major income inequality;
- strong US bilateral relations;
- several tax relief programs;
- targeted investment in agriculture, energy, light manufacturing, and technology industries
Rewritten: too little of the 2022 text remains to mark the changes.
high-income tourism and financial services economy; major income inequality; strong US bilateral relations; several tax relief programs; targeted investment in agriculture, energy, light manufacturing, and technology industries
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Cite this page
Central Intelligence Agency. “The Bahamas: Economic overview.” The World Factbook, 1990–2025 editions. Archived by The Factbook, thefactbook.org/bahamas/economic-overview.