Careers, Jobs and Education Resources for: Bahamas, The


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Lucayan Indians inhabited the islands when Christopher COLUMBUS first set foot in the New World on San Salvador in 1492. British settlement of the islands began in 1647; the islands became a colony in 1783. Since attaining independence from the UK in 1973, The Bahamas have prospered through tourism and international banking and investment management. Because of its geography, the country is a major transshipment point for illegal drugs, particularly shipments to the US and Europe, and its territory is used for smuggling illegal migrants into the US. (from the CIA)
 
 

 

Economic 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.

Environmental Issues

Coral reef decay; solid waste disposal

Government Type

Constitutional parliamentary democracy

Population

307,451 note: estimates for this country explicitly take into account the effects of excess mortality due to aids; this can result in lower life expectancy, higher infant mortality, higher death rates, lower population growth rates, and changes in the distribution of population by age and sex than would otherwise be expected (july 2008 est.)

Location

Caribbean, chain of islands in the north atlantic ocean, southeast of florida, northeast of cuba

Area

Total: 13,940 sq km land: 10,070 sq km water: 3,870 sq km

Slightly smaller than connecticut

Country Aliases

Conventional long form: commonwealth of the bahamas conventional short form: the bahamas

Capital

Name: nassau geographic coordinates: 25 05 n, 77 21 w time difference: utc-5 (same time as washington, dc during standard time) daylight saving time: +1hr, begins second sunday in march; ends first sunday in november

Military Service

18 years of age (est.); no conscription (2008)

International Disputes

Disagrees with the us on the alignment the northern axis of a potential maritime boundary; continues to monitor and interdict drug dealers and haitian and cuban refugees in bahamian waters

Sources: Central Intelligence Agency (CIA)

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