5 things you need to know about the Bahamas
Hurricane Dorian cause serious damage in the Bahamas. These are the 5 things you need to know about the independent country.
The Bahamas is an independent country formed by 700 islands and 2,400 cays, surrounded by 100,000 square miles of ocean. Thirty of the islands are considered inhabited.
Nassau is the capital of the country, situated in the New Providence island. According to the 2000 census, 306,611 people live in the Bahamas.
Located 760 miles from the coasts of Florida, Bahamas' most well-known islands are Abaco, Acklins, Andros, Berry Islands, Bimini, Cat Island, Crooked Island, Eleuthera, Exuma, Grand Bahama, Harbour Island, Inagua, Long Island, Mayaguana, and New Providence.
1. What is the Bahamas' economic situation?
Since 1966, the Bahamas has used the Bahamian dollar as currency; it is equivalent to the U.S. dollar. The island has one of the highest Gross Domestic Product (GDP) income per capita in the Americas. According to the International Monetary Fund, The U.S. occupies the first spot on the continent with $62,606 dollars, followed by the $46,261 dollars Canada produces, and The Bahamas with $34,003. The Panama Papers reveal the Bahamas has the most offshore companies.
The Bahamas is one of the most touristic resorts. According to the government, tourism as an industry accounts for 50% of the GDP. In this year alone 636,881 tourists have entered the country. The document shows that 129,912 tourists came in on airplanes, and 506,969 by sea.
According to the Nassau Guardian, in Abaco island, five people died and 21 were injured after hurricane Dorian. Five people are considered to be in critical condition and were airlifted to the Princess Margaret Hospital on New Providence island, by the U.S. Coast Guard. As for the environment, reports show that surrounding cays have been severely impacted.
On Sunday, Prime Minister Dr. Hubert Minnis called the hurricane “unprecedented devastation.” Meanwhile, Deputy Prime Minister and Minister of Finance Peter Turnquest told Guardian Business that “the country’s parametric insurance will likely kick in due to the strength and devastation of Hurricane Dorian.” Today, the Minister of National Security Marvin Dames announced the death toll from Hurricane Dorian will increase. “This was a crisis of epic proportions. We want to be responsible; we want to be caring,” added Dames.
Hurricane Dorian could affect the Bahamas dept levels. According to Deputy Prime Minister and Minister of Finance Peter Turnquest, the Bahamas will likely have to turn to the Inter-American Development Bank’s (IDB) $100 million contingent loan for natural disasters. However, debt is not the only problem the island faces. “The Bahamas will experience a significant downturn in foreign visitors after Dorian has passed,” said Minister of Tourism and Aviation Dionisio D’Aguilar.