Update on the Economy of The Bahamas

Abstract

The Commonwealth of The Bahamas is an archipelago comprising 700 related islands and cays and interconnecting waters in the Atlantic Ocean. It is spread over some 100,000 square miles, with a total land mass of 5,382 square miles. There are some thirty inhabited islands, and the capital city, Nassau, is located on the island of New Providence, while the city of Freeport, the second largest city, is situated on Grand Bahama. At its northern, western, eastern, and southern borders lie The United States of America, Cuba, Haiti/Dominican Republic and Turks & Caicos Islands, respectively. The 2000 Census Report estimates the population of The Bahamas at 303,611, with an estimated average annual growth rate of 1.99% per annum from 1990 to 2000. The bulk of the population, at 210,832 or 69% reside in New Providence, while 46,994 or 15% reside in Grand Bahama. The other islands (called the Family Islands) are less populated.