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The Bahamas
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The Bahamas
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The Commonwealth of The Bahamas is an archipelagic sovereign state comprising a chain of over 700 islands, cays, and islets in the North Atlantic Ocean, of which approximately 30 are inhabited, situated southeast of Florida and northeast of Cuba with a total land area of 13,880 square kilometers.[1]
Its population is estimated at 410,862 as of 2024, concentrated primarily on New Providence Island where the capital, Nassau, resides with around 280,000 inhabitants.[1]
The nation functions as a parliamentary democracy under a constitutional monarchy, with King Charles III as head of state represented by Governor-General Cynthia A. Pratt, and it achieved independence from the United Kingdom on 10 July 1973 following centuries of British colonial rule that began with settlement in 1647 and formal colonization by 1783.[1]
Originally inhabited by the Lucayan people encountered by Christopher Columbus in 1492, the islands saw the near-extinction of indigenous populations due to European diseases and enslavement, leading to African-descended majorities through the slave trade and subsequent emancipation in 1834.[1]
The Bahamian economy is a high-income service-oriented system, with tourism and related activities contributing over 70 percent of gross domestic product and employing about half the labor force, complemented by international financial services that attract offshore banking due to favorable regulations and tax structures.[2][1]
This reliance on external visitors and capital inflows has driven prosperity, yielding a GDP per capita exceeding $39,000 in recent estimates, yet it exposes the country to vulnerabilities including seasonal hurricanes—such as the devastating Category 5 Hurricane Dorian in 2019 that displaced tens of thousands and caused billions in damage—and global economic fluctuations.[3][1]
Notable defining characteristics include its status as a tax haven scrutinized for potential money laundering despite reforms, elevated crime rates particularly violent offenses in Nassau, and ongoing fiscal challenges marked by high public debt exceeding 100 percent of GDP, underscoring causal dependencies on tourism resilience and international financial stability rather than diversified domestic production.[1][4]
Despite these, the archipelago's coral reefs, blue holes, and subtropical climate sustain its appeal as a premier Caribbean destination, though empirical data reveal uneven development with persistent poverty in outer islands and youth unemployment.[1]