CaribbeanChoice.com
   HOME |  Carnival |  Recipes |  Gourmet Shop |  Islands |  Games |  Market |  News |  Links |  Events |  Articles |  Forums  |  Search 

 Forum Categories
 Main Menu
 

 Popular Forums 

 Newsletters 


 Food 


 Caribbean Corner 

Feedback   
Tell us what you think!
Tell us what you want!



 
   Thursday, November 14, 2019 

  Active TopicsActive Topics  Display List of Forum MembersMemberlist  CalendarCalendar  Search The ForumSearch  HelpHelp
  RegisterRegister  LoginLogin
Submit an Article or Review
 CaribbeanChoice : Articles & Submissions : Submit an Article or Review
Message Icon Topic: Executive Summary Post Reply Post New Topic
Author Message
Joseph
Senior Staff
Senior Staff
Avatar
CaribbeanChoice.com Inc. Staff

Joined: 01 Sept 2003
Location: United States
Online Status: Offline
Posts: 249

Jamaica.gif, 1 kB United-States.gif, 0 kB

Quote Joseph Replybullet Topic: Executive Summary
    Posted: 29 Sept 2004 at 12:36pm

This Country Commercial Guide (CCG) presents a comprehensive look at The Bahamas’ commercial environment, using economic, political and market analyses. CCGs were established by recommendation of the Trade Promotion Coordinating Committee (TPCC), a multi-agency task force, to consolidate various reporting documents prepared for the U.S. business community. Country Commercial Guides are prepared annually at U.S. Embassies through the combined efforts of several U.S. Government agencies.

The Bahamas is a politically stable, middle-income, developing country with a population of just under 300,000. It consists of an archipelago of some 700 islands and 2000 cays, many of which are uninhabited, stretching southeast from the southern coast of Florida. At its closest point The Bahamas is only 45 miles from the Florida coast. Most of the population of The Bahamas is descended from African slaves, many of whom were brought to The Bahamas by British loyalists who left the United States after the Revolutionary War. Most of the population resides on the Island of New Providence, where Nassau is located, and in Freeport on the island of Grand Bahama. Smaller settlements are scattered over the other islands of The Bahamas, known as the “Family Islands”.

The Bahamas was a British colony until it achieved independence in 1973. Following general elections in 1992, The Bahamas experienced a peaceful transfer of power from the center-left Progressive Liberal Party (PLP), which had governed the country for the preceding 25 years, to the centrist Free National Movement (FNM). The FNM was re-elected in March 1997 with 35 of the 40 seats in Parliament. The Bahamas cooperates closely with the United States Government in efforts to stop the trafficking of illegal drugs and
on a number of other issues of mutual concern.

Nearly sixty percent of The Bahamas’ Gross Domestic Product (GDP) is derived from tourism. Benefiting from an absence of income taxes, financial services constitute the second most important sector of the economy, excluding the public sector, accounting for up to 15 percent of GDP. Agriculture and industry together account for less than 10 percent of GDP. The country produces some chemicals and pharmaceuticals for export, along with rum and industrial salt.

Buoyed by strong investment in the tourism sector, the Bahamian economy has grown by three to four percent in each of the past two years. Continued growth depends largely on economic conditions in the United States, which will support large numbers of visitors to the islands. Recent growth in the economy, especially in the construction sector, has reduced the official level of unemployment in The Bahamas to less than 8 percent. Government and consumer borrowing have increased along with the growth in the economy. The Government maintains the value of the Bahamian dollar on par with the U.S. dollar.

Foreign exchange reserves are at historically high levels as a result of recent inflows of foreign direct investment. Despite its small size, The Bahamas is a significant market for American exports. With few domestic resources and little industry, The Bahamas imports nearly all its food and manufactured goods.

Approximately 55 percent of its imports originate in the United States, and most Bahamian purchases of third-country exports are acquired through American distributors. American goods and services tend to be favored by Bahamians because of cultural similarities and exposure to heavy domestic American advertising from Florida. In addition, the tourist industry prefers to purchase goods with which its clientele, most of whom are Americans, is familiar. The Bahamian Government actively encourages the production of locally produced items for use by the tourist industry and Bahamian residents, although with only modest success.

The Bahamas offers potential investors a stable democratic environment, relief from personal and corporate income taxes, timely repatriation of corporate profits, proximity to the United States with extensive air and communication links, a good pool of skilled professionals, designation under the Caribbean Basin Initiative (CBI), Canada’s CARIBCAN Program, and the European Union’s LOME IV Agreement. The Bahamas officially welcomes foreign investment in tourism and banking, as well as in agricultural and industrial areas, which will generate local employment, especially white-collar or skilled jobs. The vast majority of successful foreign investments, however, have remained in the areas of tourism and banking. The Government reserves retail and wholesale outlets, non-specialty restaurants, most construction projects, and many small businesses exclusively for Bahamians.

Country Commercial Guides are available for U.S. exporters from the National Trade Data Bank’s CD-ROM or via the Internet. Please contact STAT-USA at 1-800-STAT-USA for more information. Country Commercial Guides can be accessed via the World Wide Web at http://www.stat-usa.gov, http://www.state.gov and http://www.mac.doc.gov. They can also be ordered in hard copy or on diskette from the National Technical Information Service (NTIS) at 1-800-553-NTIS. U.S. exporters seeking general export information/assistance should contact the U.S. Department of Commerce, Trade Information Center by phone at 1-800-USA-Trade or by fax at (202) 482-4473.



Edited by Joseph
Joseph Miller
CaribbeanChoice.com Staff
IP IP Logged
sandra
Privateer
Privateer
Avatar

Joined: 22 Aug 2005
Online Status: Offline
Posts: 8555

Dominica.gif, 0 kB

Quote sandra Replybullet Posted: 11 July 2012 at 1:00am
Right, CC Staff....
I asked for all things so that I might enjoy life; I was given life so that I might enjoy all things
IP IP Logged
Citizen Eve
Privateer
Privateer


Joined: 11 Dec 2007
Location: Canada
Online Status: Offline
Posts: 9334

Grenada.gif, 0 kB Canada.gif, 0 kB

Quote Citizen Eve Replybullet Posted: 11 July 2012 at 4:08pm
 
... Now that is real duppy ... Me 'fraid those!
"the time is always ripe to do right", Nelson Mandela.
IP IP Logged
sandra
Privateer
Privateer
Avatar

Joined: 22 Aug 2005
Online Status: Offline
Posts: 8555

Dominica.gif, 0 kB

Quote sandra Replybullet Posted: 11 July 2012 at 7:39pm
No intarested in dat import/export bizness.
I asked for all things so that I might enjoy life; I was given life so that I might enjoy all things
IP IP Logged
Citizen Eve
Privateer
Privateer


Joined: 11 Dec 2007
Location: Canada
Online Status: Offline
Posts: 9334

Grenada.gif, 0 kB Canada.gif, 0 kB

Quote Citizen Eve Replybullet Posted: 12 July 2012 at 1:30am

 ... too much fraud out there ... still have to take risk from time to time but not on the internet for me ... Wall Street look like the place to be ... LOLLOLLOL  ... nuh ... Wink
"the time is always ripe to do right", Nelson Mandela.
IP IP Logged
Post Reply Post New Topic
Printable version Printable version

Forum Jump
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot delete your posts in this forum
You cannot edit your posts in this forum
You cannot create polls in this forum
You cannot vote in polls in this forum



This page was generated in 0.063 seconds.

 More Destinations     

New Articles | New Recipes | Active Topics | New Links | Announcements & What's New

Google
 

CaribbeanChoice.com - Your Gateway to the Caribbean
One Love. One People. All Caribbean!™

Proverb: Big tree fall down, goat bite leaf.
Meaning: When a great man falls, he is no longer feared and respected.

del.icio.us digg technorati YahooMyWeb Reddit FURL BlinkList

Member Center

Welcome Guest

Register
Login

Search  
E-mail & IM 
New & Updated Articles


 
Sponsored Links
Battle of the Islands


Venezuela
Current Leader

Jamaica
2nd Most Active

vutjebal
Most Active User



Complete Hosting Guide

Life is Transformational

Visionary Learning Studios


HOME | Culture | E-mail | Community | Resources | Disclaimer | CaribProud.com | Advertising | About Us
 Copyright © 1998-2010 CaribbeanChoice.com. Inc.  All rights reserved.