The Bahamas: Your Vacation, Our Island Nation

The Lucayan people were the first to settle in The Bahamas, but Christopher Columbus made his first landfall in The Bahamas. The island was colonized by the British in the 17th century, and then in 1964 it became self-governed with full independence within the Commonwealth.

 The Bahamas is located in the North Atlantic Ocean. Its natural resources are salt, aragonite, timber, and arable land. 1.3% of the land is agricultural, 50.9% is forest, and 47.8% is other. The natural hazards can be hurricanes and other tropical storms because they can cause flood and wind damage. Current environmental issues The Bahamas is facing is coral reef decay and solid waste disposal.

The Bahamas has a small but young and urbanized population of about 403,000, with most people living in cities like Nassau. The labor force is about 220,000–235,000 people, some more women than men, and the median age is around 30–35 years, meaning most are of working age. Education levels are generally high, with most workers completing at least secondary school and many reaching university. This creates a skilled workforce, especially suited to service-based industries like tourism and public services.

 The size of The Bahamas labor force is 237,100 people and  0.5% of them work in agriculture, 9.6% work in industry, 77.2% work in services. Tourism and financial services mainly makes the country a lot of money. The Bahamas GDP is 15.833 billion, the revenue is 2.6 billion, and the expenditure is 3.102 billion. The Bahamas largest import/export partner is the USA, and the major imports are machinery, while the major exports are seafood and minerals.

The Bahamas is highly dependent on foreign activity—particularly tourism and foreign investment—for job creation and economic stability. The Bahamas has invented some products, and their most famous product is the sponge disc.

  The Bahamas' economy is driven by the four key factors of production: land, labor, capital, and entrepreneurship.  Land is driven by the nation's natural resources, like its tropical climate, fertile soils, and marine biodiversity. Labor refers to the working people, most in tourism, which employs over half of the population. Capital involves hotels, resorts, and infrastructure that enable production and services. Entrepreneurship is represented by individuals and businesses, particularly in the tourism and financial services industries. Compared to the  United States, T he Bahamas depends more on tourism and natural resources, whereas the U.S. economy is broader and more technology-driven.