|
C H E M C O N T R O L Integrated Supply Solutions
|
|||||||||
|
|
|
|
|||||||
|
Main Geographic Markets Our market primarily includes the Eastern Caribbean. See Caribbean GDP Figures.
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
THE BAHAMAS The Islands Of The Bahamas is a 100,000-sq-mile archipelago that extends over 500 miles of the clearest water in the world. Our 700 islands, including uninhabited cays and large rocks, total an estimated land area of 5,382 sq miles, and register a highest land elevation of 206 ft. Most notable, however, is that each island has its own diversity that continues beyond geography, carrying through to the heart of The Bahamas, the Bahamian people. You’ll find it in our heritage. In our culture. And in our humble pride. These are The Islands Of The Bahamas. Population: somewhere north of 300,000. History Geography played a crucial role in Bahamian history. In 1492, Christopher Columbus made his first landfall in the New World on the island of San Salvador in the eastern Bahamas. After observing the shallow sea around the islands, he said "baja mar" (shallow water or sea), and effectively named the area The Bahamas, or The Islands of the Shallow Sea. Since it was located close to Florida and well-travelled shipping channels, The Islands Of The Bahamas caught the attention of explorers, settlers, invaders and traders. These people shaped the colourful history of The Bahamas and made the country what it is today. ECONOMY The Bahamas is largely an import service economy; its economy is almost entirely dependent on tourism and financial services to generate foreign exchange earnings. Tourism alone provides an estimated 60% of the gross domestic product (GDP) and employs about half the Bahamian work force. In 2002, more than 4 million tourists visited The Bahamas, 83% of them from the United States. There are about 110 U.S.-affiliated businesses operating in The Bahamas, and most are associated with tourism and banking. With few domestic resources and little industry, The Bahamas imports nearly all its food and manufactured goods from the United States. American goods and services tend to be favored by Bahamians due to cultural similarities and heavy exposure to American advertising.The principal focus of the Ingraham administration was economic development and job creation. Many of the Ingraham government's policies were aimed at improving the image of The Bahamas and making it an attractive place for foreigners to invest. The PLP government has continued moves to attract investment. Considerable progress has been made in rebuilding the infrastructure, revitalizing the tourism industry, and attracting new investment to The Bahamas. A good start has been made to mitigate crime and provide for social needs. The Bahamian economy, due to its heavy dependence on U.S. tourism, is deeply affected by U.S. economic performance. Economic challenges facing the Bahamas are to privatize The Bahamas' costly, inefficient national corporations, provide job retraining for hundreds of workers who will be affected by the change, and to continue creating jobs for new entries in the employment market. Privatization of government assets has lagged; for example, the expected selloff of Batelco has experienced repeated delays. Currently, Bahamians do not pay income or sales taxes. Most government revenue is derived from high tariffs and import fees. A major challenge for Bahamians will be to prepare for hemispheric free trade. Reduction of trade barriers will probably require some form of taxation to replace revenues when the country becomes a part of the Free Trade Area of the Americas (FTAA). The advantages may be hard for the government to sell since The Bahamas exports so little. Population The population of the Bahamas is approximately 340,000 the majority of whom are black and inhabit 20 of The Islands of The Bahamas. Most of the population live on the Island of New Providence and Grand Bahama Island. Many of the Islands are uninhabited due to the lack of fresh water. Currency The Bahamas' unit of currency is the Bahamian dollar ($B) which is based on the U.S. dollar. One Bahamian dollar equals 100 Bahamian cents (pennies). |
|||||||||
|
|
|
|
|
|
|
|
|
|
|
 |
Aruba |
 |
Anguilla |
 |
Montserrat | ||||
|
Chemcontrol Limited |
|||||||||
