Bahamas Economy
The Economy
The Bahamas welcomes foreign direct investment. It is a small
developing country with an open economy, the two primary pillars of
which are tourism and financial services. The economy has been
undergirded by sound economic, monetary and fiscal policies, as well
as uninterrupted parliamentary democracy since 1729. These have
bolstered investor confidence and as the record reflects,
facilitated great returns on those investments.
Presently, the
Bahamian economy is experiencing a slight rebounding following the
global financial crisis and recession. This upturn is underpinned by
modest growth in the global economy and is reflected in significant
public sector infrastructural development and private sector
initiatives in the tourism sector.
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Infrastructural Development
During the economic downturn, The Bahamas Government commenced
substantial infrastructural development initiatives. These included
the redevelopment of the countrys principal airport, which is the
largest public sector project ever undertaken in The Bahamas; the
deepening of Nassau Harbor, which now accommodates the worlds
largest passenger vessels; and the creation of a new cargo port just
outside the City of Nassau. We are also presently in the midst of
extensive upgrades to existing road arteries and the development of
new thoroughfares throughout New Providence, as well as other
islands of The Bahamas.