What are the economic issues in The Bahamas?
What are the economic issues in The Bahamas? Despite projected continued growth in 2022, levels of public debt and unemployment remain high. Financial services are an important sector of the economy. Tourism normally accounts for over 60 percent of GDP, but the COVID-19 pandemic and a 2019 hurricane caused a steep decline in revenues.
Is the Bahamas wealthy?
The Bahamas is one of the wealthiest Caribbean countries with an economy heavily dependent on tourism and offshore banking.
What is the population problem in the Bahamas?
Challenges related to population health The Bahamas population is aging, and the pace of this aging is predicted to increase. In 1980, the proportion of The Bahamas population aged 65 and older was 4.1%. This proportion increased to an estimated 7.7% by 2020, and is predicted to rise to 19.9% by 2060.