what type of economic system does the bahamas have
Economy of the Bahamas
The Bahamas is a stable , developing nation in the Caribbean with a population of 391,232 ( 2016 ) and an economy heavily dependent on tourism and offshore banking . Steady growth in tourism receipts and a boom in construction of new hotels , resorts , and residences had led to solid GDP growth for many years , but the slowdown in the US economy and the attacks of September 11 , 2001 held back growth in these sectors in 2001 - 03 . 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 10 % of GDP and show little growth , despite government incentives for 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 . In addition to tourism and banking , the government supports the development of a `` 2nd - pillar '' , e-commerce . 
The Bahamas is a stable , developing nation in the Caribbean with a population of 391,232 ( 2016 ) and an economy heavily dependent on tourism and offshore banking . Steady growth in tourism receipts and a boom in construction of new hotels , resorts , and residences had led to solid GDP growth for many years , but the slowdown in the US economy and the attacks of September 11 , 2001 held back growth in these sectors in 2001 - 03 . 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 10 % of GDP and show little growth , despite government incentives for 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 . In addition to tourism and banking , the government supports the development of a `` 2nd - pillar '' , e-commerce .
The Bahamas is an economy heavily dependent on tourism and offshore banking . Manufacturing and agriculture together contribute approximately 10 % of GDP and show little growth , despite government incentives for 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 . In addition to tourism and banking , the government supports the development of a `` 2nd - pillar '' , e-commerce .
The Bahamas is a stable , developing nation in the Caribbean with a population of 391,232 ( 2016 ) and an economy heavily dependent on tourism and offshore banking . Manufacturing and agriculture together contribute approximately 10 % of GDP and show little growth , despite government incentives for 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 . In addition to tourism and banking , the government supports the development of a `` 2nd - pillar '' , e-commerce .