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Bahamas
Quick Facts
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Government
- Governor General - Arthur HANNA
- Prime Minister - Hubert Ingraham
- Deputy Prime Minister - Brent SYMONETTE
- Minister of Agriculture and Marine Resources.- Lawrence CARTWRIGHT
- Minister of EducationYouth, Sports & Culture - Carl BETHEL
- Minister of Finance - Hubert INGRAHAM
- Minister of Foreign Affairs - Theodore "Brent" SYMONETTE
- Minister of Health and Social Development - Dr. Hubert Minnis
- Minister of Housing and National Insurance - Kenneth RUSSELL
- Minister of Lands & Local Government - Sidney COLLIE
- Minister of Legal Affairs - Claire HEPBURN
- Minister of Marine Affairs and Labour - Dion FOULKES
- Minister of National Security & Immigration - Orville TURNQUEST
- Minister of Tourism and Aviation - Neko GRANT
- Minister of Works and Transport - Earl D. DEVEAUX
- Minister of State for Culture - Charles T. MAYNARD
- Minister of State for Environment - Phenton O. NEYMOUR
- Minister of State for Finance - Zhivargo LAING
- Minister of State for Immigration - Senator Branville McCARTNEYl
- Minister of State for Legal Affairs - Desmond BANNISTER
- Attorney General - Claire HEPBURN
- Governor, Central Bank - Julian W. FRANCIS
- Ambassador to the US - Joshua SEARS
- Permanent Representative to the UN, New York - Paulette A. BETHEL
Public Holidays: New Year's Day (01 January); Good Friday; Easter Monday; Whit Monday; Labour Day (02 June); Independence Day (10 July); Emancipation Day (04 August); Discovery Day (12 October); Christmas Day (25 December); Boxing Day (26 December) Holidays that fall on Saturday or Sunday are observed on the following Monday
Economic Development
Economic Survey of the Caribbean 2007-2008
The survey provides an overview of the economic performance of countries of the Caribbean Development and Cooperation Committee (CDCC) for the year 2007 and their outlook for 2008. The last chapter presents country briefs with the main macroeconomic developments in 2007 and the outlook for 2008.
Despite sound macroeconomic management over the last years, economic growth in the Bahamas slowed in 2007 but nevertheless remained solid. Real output grew by 2.8%, compared to a 4.6% increase in 200644. A slowing in construction activity and reduced growth in credit expansion partly offset the impetus from improved tourism. Reflecting higher costs of furniture and household goods and the strong pass-through of international fuel and food prices, December-on-December inflation picked up to 2.9%, remaining at a moderate level but surpassing the 2.3% registered in 2006.
Government finances weakened during fiscal year 2006/07, as the overall fiscal deficit doubled to 1.6% of GDP. Fiscal performance was undermined by the slowdown in economic activity, which led to sluggish growth in revenue, which was outpaced by the rise in spending.
PERFORMANCE OF 2006
Main Sources:2006/07 Budget Communication,Monthly Economic and Financial Developments February 2007, Quarterly Economic Review as of September 2006, and Quarterly Overview of Domestic Developments September 2006
Link:Central Bank of Bahamas Recent Publications
Tourism stood out as a major debilitation to Bahamas economic performance in 2006. In spite of this, most sectors such as, construction, banking and finance, and fiscal operations performed stronger than usual, as high consumer demand (due to low interest rates) led to increases in housing investments. Real GDP growth is estimated at a moderate rate of 4%, as the country’s most contributable sector (tourism and tourism-driven construction) to GDP registered an 8.5% downturn in visitor arrivals.
Tourism
With reference to the article “Impact of Tourism Development on the Economy and Health of Third World Nations", the disposition of tourism dependency among Caribbean countries is clear. International popularity of tourism grew after the 1960’s, where the Third World’s market share of international tourist spending was estimated at 29.1%. The Bahamas, in retrospect, developed their economy by creating tourism (and tourism associated) by-products through liaising among most of the economy’s real sectors. The Hon. Prime Minister Hubert A. Ingraham maintained in theBahamian Manifesto '97, that because of tourism revitalization, Bahamas implemented policies to create linkages between their tourism industry and manufacturing, agricultural and fisheries sector. These tourism by-products produced by these sectors led to an expansion in Bahamian-produced foods, Bahamian-made products and Bahamian services in hotels and resorts throughout the country.
Cementing tourism and other services by-product as Bahamas’s main GDP contributor [services: 90% (2001 est.)], where increases are recorded in employment and other social spheres, there are still major repercussions involved from facilitating for the sole purpose of tourism.
Environmental Costs:Numerous detailed accounts of environmental degradation resulting from tourism development exist. Below is a comprehensive list of most tourism related environmental problems compiled by Green and Hunter:*’Changes in floral and fauna species composition (disruption, desertion, destruction, death) Pollution (air, water, land, noise) Erosion Depletion of natural resources (food, water, land, fossil fuels) Visual impact (buildings, car parks, litter).
Social Costs:Loss of culture has often been described as an inevitable cost of tourism and can include loss of language, exploitation of traditional disruption of native political and economic balance.
Repatriation of Profits:Often overlooked, Third World economies suffer from vast repatriation of tourist revenue. Hotels and Resorts and other services provided to the tourist industry are owned by North America and Western Europe. Transitional corporations tendency of importing a great deal of personnel and products, which widens the gap between profits attained by developing and developed countries. [Source:“Impact of Tourism Development on the Economy and Health of Third World Nations",]
Fiscal Operations and Current Account
With a combination of growth in imports combined with significant stamp tax receipts, the Bahamian government registered an overall fiscal surplus of $3.7 million compared to last year’s deficit of $20.3. Import duties was Bahamas’s main source of revenue (composing of 36% of all 2006’s fiscal revenue) increasing from $104.4 million in 2005 to $118.5 million 2006. Recurrent Outlays accounted for 87.6% of total spending and grew by 8.6% in 2006. Capital expenditure and government consumption were highly attributable to the increase in total expenditure, registering 14.6% and 11.5% respectively.
According to The quarterly overview of domestic economic developments, the current account deficit widened by $160.8 million due to the collapse of tourism receipts combined with the outflow of other services. Merchandise trade also recorded 8.5% deterioration in merchandise trade deficit.
Inflation
The rate of inflation softened to 1.6% in 2006 compared to 2.1% in 2005, however unemployment remained stabled at 10.6%.[Source:The World Factbook
Social Development
Ecotourism and sustained economic development
Wednesday, August 23, 2006
Travel and tourism are among the world's fastest growing industries and are the major source of foreign exchange earnings for many developing countries. According to the World Tourism Organization (WTO) receipts from international tourism grew by an average annual rate of 9 percent between, 1988-1997.
The numbers of international tourist arrivals reached more than 664 million in 1999 (well over 10 percent of the world's population), and international arrivals are expected to reach one billion by 2010.
The Bahamas and the Caribbean have over the years have enjoyed substantial economic benefits from this very lucrative industry.According to official statistics, conservative estimates indicate that approximately 60 percent of our nation's GDP, valued at some $5 billion dollars are directly linked to the Tourism industry.
source:The Freeport news
2005 Latin America and the Caribbean Selected Economic and Social Data
The 2005 edition of Latin America and the Caribbean: Selected Economic and Social Data (the LAC Databook), includes the most recent data at the time of publication from a multitude of international and national sources. The Bureau for Latin America and the Caribbean of the US Agency for International Development presents this Databook with the goal of gathering and presenting the most up-to-date information possible from official country sources and leading international institutions."
Source:USAID
2005 Country Reports on Human Rights Practices (Western Hemisphere)
All men and women desire and deserve to live in dignity and liberty. As President Bush said: "The advance of freedom is the great story of our time." Promoting human rights and democracy is a worldwide phenomenon and there is a growing global discussion of democracy and the universal values protected by democratic governance.
By defending and advancing human rights and democratic principles, we keep faith with our country’s most cherished values and lay the foundation for lasting peace. Fulfilling the promise of the United Nations Universal Declaration of Human Rights and building vibrant democracies worldwide will take generations, but it is work of the utmost urgency that cannot be delayed.
Source:US Dept. of State
International Narcotics Control Strategy Report for 2006
Illicit Drugs Shipped Through Caribbean Nations to U.S., Europe
The report cites Bahamas, Dominican Republic, Jamaica as major transit points. As a result of their geographic location, many nations of the Caribbean are utilized as transit countries to shift cocaine, marijuana and other illicit drugs from South America to the United States, Europe and elsewhere, according to the U.S. State Department's International Narcotics Control Strategy Report (INCSR) for 2006.
Source:U.S. Department of State
AMNESTY INTERNATIONAL REPORT 2006 - BAHAMAS
Death sentences were imposed by the courts. No executions were carried out. Detained asylum-seekers and migrants, the majority black Haitian nationals, were held in harsh conditions and reportedly ill-treated. Reports of police abuses continued.
Death penalty
The courts continued to pass death sentences. No executions took place. At the end of 2005, there were at least 39 prisoners on death row. Numerous people, including the Commissioner of Police, called for the resumption of executions in reaction to an increase in violent crime.
In April, 12 prisoners on death row at the Fox Hill Prison staged a three-day hunger strike to protest at their “inhumane” conditions. Inmates alleged inadequate sanitation, food, water and medical care. In October a new prison building was commissioned, for completion in 2007.Police abuses
There were continued reports of police brutality. In January a riot erupted in Nassau Village after police allegedly abused Haitian women and shot a young man aged 19 in the face. A police investigation had not concluded by the end of 2005.
Asylum-seekers and migrants
There were continued reports of abuses against asylum-seekers and other detainees at the Carmichael Detention Centre. Inmates were reportedly beaten and received inadequate medical attention, food and water. Asylum-seekers were forcibly returned to countries including Cuba and Haiti without access to a full and fair determination procedure.
Hostility increased towards Haitian immigrants, unofficially estimated at 60,000 out of a population of 300,000. In 2005, according to the Department of Immigration, 5,543 irregular immigrants – 4,504 from Haiti – were forcibly returned to their countries of origin.
AI country visits. In May, AI sent a police expert to provide human rights training to members of the Royal Bahamas Police Force.Source:Amnesty International
Education
The Ministry of Education Strategic Plan 2004
The Plan seeks to maintain an efficient Communications Section with trained personnel who convey information to promote the Ministry with positive conviction, sensitivity and enthusiasm.
Coordinate and facilitate training in the areas of Protocol, script writing, research techniques and computer applicationsfor the section members and Liaison officers at all schools.
Provide technical assistance on layout and design of promotional materials for Conferences and seminars e.g. Invitations/ Programmes, booklets and special occasion pamphlets
EFA in the Caribbean: Assessment 2000
In 1993, concerned about the extent and the quality of the returns resulting from the considerable investment being made in education, the Government of The Bahamas commissioned a Task Force to undertake a review of the educational system in all its aspects at the primary and secondary levels and to make recommendations to bring about improved efficiency and effectiveness in the education product.
Source: UNESCO. EFA 2000 Assessment
Environment
A Global Report REDUCING DISASTER RISK: A CHALLENGE FOR DEVELOPMENT 2004
The Report addresses four key questions: - How are disaster risks and human vulnerability to natural hazards distributed globally between countries ? - What are the development factors and underlying processes that configure development? - H ow can appropriate development policy and practice contribute to the reduction of disaster risks? - How can disaster risk assessment be enhanced in order to inform development policy and practice?
The Disaster Risk Index (DRI),which is presented as the centrepiece of this Report, is a first step in addressing these questions.The DRI provides the first global assessment of disaster risk factors through a c o u n t ry - b y - c o u n t ry comparison of human vulnerability and exposure to three critical natural hazards :earthquake, tropical cycl ones and flooding, and the identification of development factors that contribute to risk. Volcanic eruption is important internationally, but lacks sufficient data for analysis at this time (see Technical Annex).
Similarly, the development of a drought DRI revealed a series of unresolved methodological and conceptual challenges, which imply that its results do not yet have the required degree of confidence. Nevertheless, the e x p l o ra t i on of these ch a llenges in itself prov i d e s important insights into drought risk and vulnerability and is presented in the Report as a work in progress. Reliance on internationally available data and the use of human deaths as a proxy for disaster losses meant that certain types of disasters were excluded from the model. An example of this is fire, which can cause widespread damage with few deaths.
Source:UNDP
Health
Legislation
Statistics
ICT Profile
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The Government has set as a long-term, broad-based objective, the transformation of the Bahamian economy to a digital one as a means of generating viable opportunities for Bahamians to participate in the global economy. The realisation of such opportunities will come about through the pervasive use of the Internet to engage in activities such as e-commerce, e-learning, e-health, e-government services and certain niche markets within the supply chain”. |
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The Government of the Bahamas has developed a detailed ICT Strategy articulated in a document entitled:Policy statement on electronic commerce and the Bahamian digital agenda. January 2003. The document details an action plan and proposes institutional arrangements in respect of e-business, the telecommunications infrastructure, legal, financial, content and human resource development issues, and e-government. |
LEADING INSTITUTIONS
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Liberalization of Telecommunications Industry Cable Bahamas, local cable and internet service provider, calls for the total liberalization of the telecommunications industry in the Bahamas. BTC to compete with Cable Bahamas Bahamas Telecommunications Company (BTC) hopes to compete with Cable Bahamas after the liberalization of the telecommunication industry. BTC must switch from TDMA to GSM According to international software company, Vanu Software Radio Base Station, BTC must update network from TDMA to GSM if they which to compete in the local wireless communications industry. |
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The government is committed to the expansion of its wide area network connecting of all government agencies, accelerating the development of online processes to facilitate business. The Government will also place as priority the coordination of regulatory policy among various Government entities that will promote transition to a digital economy; upgrade infrastructure for the delivery of government information including converting public information to electronic form; and continue work on the expansion and enhancement of the Government portal and website. |
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AN ACT TO PROVIDE FOR THE LEGAL RECOGNITION OF ELECTRONIC WRITING, ELECTRONIC CONTRACTS, ELECTRONIC SIGNATURES AND ORIGINAL INFORMATION IN ELECTRONIC FORM IN RELATION TO COMMERCIAL AND OTHER TRANSACTIONS AND TO PROVIDE FOR THE FACILITATION OF ELECTRONIC TRANSACTIONS AND RELATED MATTERS. |
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Telecommunication Policy and Network Development This section presents an overview of the telecommunications sector in the Bahamas, the government’s policy and the industry’s degree of development. 2.1 Telecommunications sector policy and regulation 2.1.1 Current regulatory framework Telecommunications in the Bahamas began in 1892 with the connection of the first submarine cable from Florida in the United States, at what is still known as Cable Beach. The first manual exchange was installed in 1906; thus, international communication preceded domestic telephone service by some 12 years. Regulation and control of services came under the state Telegraph and Telephone Department (later Telecommunications Department), until the passage of the Telecommunications Act of 1966. This created a state-owned corporation, Bahamas Telecommunications Corporation or BaTelCo, which still operates as a quasi-public monopoly in most services today. |
| ICT INDICATORS collected by Statistical Offices |
More Information
By Juan McCartney
The Bahama Journal, 8th May 2007
The remaining ministers in Prime Minister Hubert Ingraham’s cabinet were sworn in at a ceremony at Government House Monday evening during which time the prime minister promoted the need for national unity.
Key Documents
Up one level- AN ASSESSMENT OF THE AGRI-FOOD DISTRIBUTION SERVICES INDUSTRY IN CARICOM
- Economic Survey of Latin America and the Caribbean 2007-2008
- CTO. Latest Tourism Statistics for the Caribbean 2008
- Economic Survey of the Caribbean 2007-2008
- The Ministry of Education Strategic Plan 2004
- Assessment of the Telecommunication Services Sector in CARICOM: Convergence Issues at the Regional and International Level
- Towards a Single Economy and a Single Development Vision
- CARIBBEAN CONNECT: A HIGH LEVEL SYMPOSIUM ON THE CARICOM SINGLE MARKET 28 - 30 June, 2006, Sherbourne Conference Centre, Two Mile Hill, St. Michael, BarbadosND ECONOMY.
- Trade Integration in the Americas
- Overview of CARICOM's Trade with Canada
- Background to Negotiations on CARICOM Canada Trading Arrangements
- Hemispheric Trade and Tariff Database
Bibliography
Up one level- Agriculture in The Bahamas
- The Impact of Globalization on the Caribbean Sugar and Banana Industries
- THE CULTURAL INDUSTRIES IN CARICOM: TRADE AND DEVELOPMENT CHALLENGES
- Bahamas Still A Major Money Laundering Center
- Radical Islam and LNG in Trinidad and Tobago
- Foreign Investment in Latin America and the Caribbean 2007
- The Bahamas: Selected Issues and Statistical Appendix. IMF, 2005
- THE BAHAMAS - Key Economic Indicatiors (2003)
- U. S. Department of State: background notes - The Bahamas. March 1998
- Latin America and the Caribbean in the World Economy 2006. Trends 2007
- A Time to Choose: Caribbean Development in the 21st Century
- National Programmes of Action - The Caribbean Experience
- Marine Aquaculture: a sustainable alternative to overfishing
- Bahamas National Trust
- THE COMMONWEALTH of THE BAHAMAS National Biodiversity Strategy and Action Plan
- The National Invasive Species Strategy for The Bahamas
- Survey of Caribbean tax systems
- Bahamas country profile: Agenda 21 implementation
- Establishing a Financial Institution in the Bahamas
- Insurance Industry in The Bahamas