INTL 190 - Haiti in a Transnational Context

Economy of The Bahamas

Tourism is the major source of revenue for The Bahamas. There are more approximately 700 archipelago islands in the country and each island has a unique attraction for its visitors. Technology in The Bahamas is far more advanced in most parts and it continues to advance in the government services to “eliminate a lot of the human element that facilities corruption” (CANA 2018) which will also allow The Bahamas to fully transform to digital currency for its financial services. This transformation and advances bring many limitations to building trade relations with Haiti because cash is more commonly used to operate daily businesses. Data from The National Accounts Section of the Department of Statistic shows that in 2018 there is growth in GDP since 2017. However, Standard and Poor's, which is The Global Ratings Agency predicts that the domestic economy of Haiti will have a much slower progress in future.


Although many predict that the domestic economy of The Bahamas will continue to improve, the country does not have major goods and service to import to other countries, and most of its food is exported to fulfill the demands of its people. The source of the labor force in the country is mostly consistent of Haitians, but the “working class Afro-Bahamians perceive Haitians as an economic threat because they will work for lower wages” (Ramsaran, 3) and the issue of illegal immigration of Haitians to The Bahamas has concerned Bahamians. For many years, The Bahamas has been a place of refugee for the Haitians and government has been taking action to restrict it.


 

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