The wealthiest state in the Caribbean, the Bahamas’ GDP per capita is fourth highest in the Americas.
A stable, developing country, the Bahamas has little industry, and few natural resources other than golden beaches and a sunny climate. It’s no surprise, then, that tourism is big business – around 3 million tourists visit the country every year – 80% of whom hail from the USA and Canada. Tourism accounts for around 60% of GDP and employs half the Bahamian workforce.
The Bahamas has no income tax, corporate tax, wealth tax or capital gains tax. Financial and business services account for another 35% of national GDP – with tens of thousands of IBC’s registered in the country.
The government of the Bahamas is actively seeking to promote e-commerce as a ‘second pillar’ of the nation’s economy.
Agriculture and manufacturing account for approximately 10% of GDP. Government incentives have had little effect, and neither sector has shown signs of growth in recent years.
With offices in Freeport and Nassau, HLB’s Bahamian partners and staff offers excellent services to local and international clients.
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