Welcome to The Bahamas
The Commonwealth of The Bahamas comprises a total of 700 islands covering an area of approximately 100,000 square miles extending from 50 miles off the east coast of Florida, running some 500 miles to the northern coast of Hispaniola. The islands are internationally recognized as a unique tourist destination and a center for financial services.
With a population of just over 338,000 people and a land area of approximately 5,300 square miles, the Bahamas is relatively sparsely populated, with the exception of the island of New Providence. Over 240,000 people live on New Providence, the location of the nation’s capital city, Nassau. The remainder of the population is dispersed throughout the other islands. The largest concentrations are located on the islands of Grand Bahama, Abaco, Andros and Eleuthera. Only 29 of the Islands of the Bahamas are permanently inhabited.
The Bahamas is a former British colony having attained its independence from Great Britain in 1973. It remains a member of the British Commonwealth.
Political stability is a hallmark of the parliamentary democracy in the Bahamas that has existed for the past 276+ years. Public spending and foreign debt are under control, inflation is low, and the Bahamian dollar is pegged 1:1 ratio to the US dollar since 1966. The Bahamian legal system is derived from English Common Law and Colonial legislation.
The Bahamas remains the leading tourist destination in the Caribbean region. In 2008, over 4.4 million visitors arrived in the Bahamas, slightly down from 4.6 million in 2007.
The Bahamas is today one of the world's principal international financial centers. The asset base of the Bahamas' banking center is in excess of $503 billion, positioning it among the top ten countries in the world. The country's progressive legislation and regulatory structure, its highly skilled workforce, and its responsive government have attracted many of the world's largest and most prestigious financial institutions. Convenient air transportation and modern infrastructure, including an excellent telecommunications system, all support efficient business operations.