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Summary:
A quick note about the current real estate investing environment in that area
People:
Population:303,770
Ethnic Groups:black 85%, white 12%, Asian and Hispanic 3%
Religions:Baptist 35.4%, Anglican 15.1%, Roman Catholic 13.5%, Pentecostal 8.1%, Church of God 4.8%, Methodist 4.2%, other Christian 15.2%, none or unspecified 2.9%, other 0.8% (2000 census)
Languages:English (official), Creole (among Haitian immigrants)
Literacy:definition: age 15 and over can read and write
total population: 95.6%
male: 94.7%
female: 96.5% (2003 est.)
Government:
Government type:constitutional parliamentary democracy
Economy:
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
GDP (PPP):$6.098 billion (2005 est.)
GDP (Official Exchange rate):$5.783 billion (2005 est.)
GDP (Real Growth Rate):3.5% (2005 est.)
GDP Per capita:$20,200 (2005 est.)
GDP Composition by sector:agriculture: 3%
industry: 7%
services: 90% (2001 est.)
Unemployment Rate10.2% (2005 est.)
Population below poverty line: 9.3% (2004)
Budget: (revenue and expenditures): revenues: $1.03 billion
expenditures: $1.03 billion; including capital expenditures of $130 million (FY04/05)
Public debt: NA
Industrial production growth rate: NA
Exchange rates:Bahamian dollars per US dollar - 1 (2005), 1 (2004), 1 (2003), 1 (2002), 1 (2001)
Source : C I A Facts Files
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