The tourism industry is the number one contributing factor in the Bahamian economy. With its warm sunshine, white sandy beaches, crystal clear waters and friendly people, The Bahamas is one of the premier tourist destinations in the world with well over three million visitors each year.
The Bahamas is also a thriving financial center in the region. The second most important factor in the country’s economy is the banking and finance industry. Other industries include construction, agriculture and fishing.
No income taxes are levied in The Bahamas, so the government’s primary source of revenue comes from import taxes, such as customs duties and stamp taxes.
The Bahamas has a relatively stable economy and good standard of living with one of the highest per capita incomes in the region.