Editing The Bahamas (section)

==Economy==
{{Main|Economy of the Bahamas}}
{{Further|Agriculture in the Bahamas|Tourism in the Bahamas}}
[[File:Taino Beach, Grand Bahama Island, Bahamas.jpg|thumb|Taino Beach, Grand Bahama Island]]
In terms of [[Lists of countries by GDP per capita|GDP per capita]], the Bahamas is one of the wealthiest countries in the [[Americas]].<ref>{{cite web|url=https://www.cia.gov/the-world-factbook/field/real-gdp-per-capita/country-comparison|title=Real GDP per capita|publisher=Central Intelligence Agency|access-date=9 July 2022|archive-date=5 April 2022|archive-url=https://web.archive.org/web/20220405152309/https://www.cia.gov/the-world-factbook/field/real-gdp-per-capita/country-comparison/|url-status=live}}</ref> Its currency (the [[Bahamian dollar]]) is kept at a 1-to-1 [[currency peg|peg]] with the [[US dollar]].<ref name="ReferenceA"/>

The Bahamas relies heavily on [[tourism]] to generate most of its economic activity. Tourism as an industry accounts for about 70 per cent of the Bahamian GDP and provides jobs for about half of the country's workforce.<ref>{{Cite web|title=Bahamas – Market Overview|url=https://www.trade.gov/country-commercial-guides/bahamas-market-overview|access-date=2022-12-20|website=trade.gov|archive-date=6 April 2023|archive-url=https://web.archive.org/web/20230406172145/https://www.trade.gov/country-commercial-guides/bahamas-market-overview|url-status=live}}</ref> The Bahamas attracted 5.8&nbsp;million visitors in 2012, more than 70 per cent of whom were cruise visitors.<ref>{{Cite book|last=Spencer|first=Andrew|url=https://books.google.com/books?id=LVdxDwAAQBAJ&q=bahamas+2012+tourist+70%25+cruise&pg=PA51|title=Travel and Tourism in the Caribbean: Challenges and Opportunities for Small Island Developing States|date=14 July 2018|publisher=Springer|isbn=978-3-319-69581-5|access-date=19 October 2020|archive-date=27 April 2021|archive-url=https://web.archive.org/web/20210427090427/https://books.google.com/books?id=LVdxDwAAQBAJ&q=bahamas+2012+tourist+70%25+cruise&pg=PA51|url-status=live}}</ref>

After tourism, the next most important economic sector is banking and [[Offshore financial centre|offshore international financial services]], accounting for some 15 per cent of GDP.<ref name="ReferenceA"/> It was revealed in the [[Panama Papers]] that the Bahamas is the jurisdiction with the most offshore entities or companies in the world.<ref name="ICIJbahamas">{{cite web|title=Panama Papers|url=https://offshoreleaks.icij.org/|website=The International Consortium of Investigative Journalists|access-date=17 August 2017|archive-date=10 May 2016|archive-url=https://web.archive.org/web/20160510002550/https://offshoreleaks.icij.org/|url-status=live}}</ref>

The Bahamas is considered a major international financial centre. According to some estimates, it is the fourth-largest tax haven globally based on assets under management. It is believed to hold approximately US$13.7 trillion in private household wealth and an additional US$12 trillion in corporate wealth sheltered within offshore shell companies. This combined figure represents roughly a quarter of the world's annual wealth creation. As recently as 2019 the offshore financial services sector contributed an estimated 20 per cent to the Bahamian economy.<ref>{{cite news|last=Harrington|first=Brooke|url=https://www.theatlantic.com/ideas/archive/2024/08/offshore-tax-bahamas-wallace-groves/679491|title=The American Con Man Who Pioneered Offshore Finance|work=[[The Atlantic]]|date=2024-08-19|access-date=2024-08-20}}</ref>

The economy has a very competitive tax regime (classified by some as a [[tax haven]]). The government derives its revenue from import tariffs, [[VAT]], licence fees, property and stamp taxes, but there is no income tax, corporate tax, capital gains tax, or wealth tax. Payroll taxes fund social insurance benefits and amount to 3.9 per cent paid by the employee and 5.9 per cent paid by the employer.<ref>{{cite web|title=Contributions Table|url=http://www.nib-bahamas.com/_m1722/Brochures/default.aspx|publisher=The National Insurance Board of The Commonwealth of The Bahamas|access-date=22 December 2011|date=11 May 2010|archive-date=15 January 2012|archive-url=https://web.archive.org/web/20120115114955/http://www.nib-bahamas.com/_m1722/Brochures/default.aspx|url-status=live}}</ref> In 2010 overall tax revenue as a percentage of GDP was 17.2 per cent.<ref name="cia.gov">{{Cite CIA World Factbook|country=Bahamas, The|date=26 January 2021}}</ref>

Agriculture and manufacturing form the third largest sector of the Bahamian economy, representing 5–7% of total GDP.<ref name="ReferenceA"/> An estimated 80 per cent of the Bahamian food supply is imported. Major crops include [[onion]]s, [[okra]], [[tomato]]es, [[Orange (fruit)|oranges]], [[grapefruit]], [[cucumber]]s, [[sugar cane]], [[lemon]]s, [[Lime (fruit)|limes]] and [[sweet potato]]es.<ref>{{Cite book|url=https://books.google.com/books?id=wGA4o-UhAfgC&q=An+estimated+80%25+of+the+Bahamian+food+supply+is+imported.&pg=PA657|title=Europa World Year|date=2004|publisher=Taylor & Francis|isbn=978-1-85743-254-1|access-date=19 October 2020|archive-date=26 April 2021|archive-url=https://web.archive.org/web/20210426223437/https://books.google.com/books?id=wGA4o-UhAfgC&q=An+estimated+80%25+of+the+Bahamian+food+supply+is+imported.&pg=PA657|url-status=live}}</ref>

Access to [[biocapacity]] in the Bahamas is much higher than the world average. In 2016 the Bahamas had 9.2 global hectares<ref name=footprintdata>{{cite web|url=http://data.footprintnetwork.org/#/countryTrends?cn=12&type=BCpc,EFCpc|title=Country Trends|publisher=Global Footprint Network|access-date=4 June 2020|archive-date=8 August 2017|archive-url=https://web.archive.org/web/20170808050235/http://data.footprintnetwork.org/#/countryTrends?cn=12&type=BCpc,EFCpc|url-status=live}}</ref> of biocapacity per person within its territory, much more than the world average of 1.6 global hectares per person.<ref>{{Cite journal|last1=Lin|first1=David|last2=Hanscom|first2=Laurel|last3=Murthy|first3=Adeline|last4=Galli|first4=Alessandro|last5=Evans|first5=Mikel|last6=Neill|first6=Evan|last7=Mancini|first7=Maria Serena|last8=Martindill|first8=Jon|last9=Medouar|first9=FatimeZahra|last10=Huang|first10=Shiyu|last11=Wackernagel|first11=Mathis|year=2018|title=Ecological Footprint Accounting for Countries: Updates and Results of the National Footprint Accounts, 2012–2018|journal=Resources|volume=7|issue=3|pages=58|doi=10.3390/resources7030058|doi-access=free|bibcode=2018Resou...7...58L }}</ref> In 2016 the Bahamas used 3.7 global hectares of biocapacity per person – their [[ecological footprint]] of consumption. This means they use less biocapacity than the Bahamas contains. As a result, the Bahamas is running a biocapacity reserve.<ref name=footprintdata/>

===Transport===
[[File:LTIA.jpg|thumb|right|Leonard M. Thompson International Airport]]
The Bahamas contains about {{cvt|1,620|km}} of paved roads.<ref name="CIA World Factbook – The Bahamas"/> Inter-island transport is conducted primarily via ship and air. The country has 61 airports, the chief of which are [[Lynden Pindling International Airport]] on New Providence, [[Grand Bahama International Airport]] on Grand Bahama Island, and [[Marsh Harbour Airport|Leonard M. Thompson International Airport]] (formerly Marsh Harbour Airport) on Abaco Island.