Page 54 - The British Big Four

ourism generates about half of all jobs. which took over the former Paradise Island ship of the land, and they welcome visitors
Resort and has provided a much needed to come explore and learn about the people
T The Bahamas attracted 5.8 million visi- boost to the economy. In a 2003 agreement, and events that helped shape the islands of
the Kerzner Group agreed to a $600 million the Bahamas into the fascinating place they
tors in 2012, more than 70 per cent of which expansion of the Atlantis resort complex call home. Bahamas cultural history today is
were cruise visitors. Banking and interna- that is expected to add 3,000 new jobs and most heavily influenced by the loyalist set-
tional financial services are the second larg- $4.4 billion to the Bahamian economy in the tlers and the slaves they brought with them
est economic sector, accounting for about coming years. In addition, the Bahamian to the Bahamas. Festivals and events focus-
15 per cent of GDP. Based on the twin pillars Government sold offshore exploration li- ing on history on the Bahamas tend toward
of tourism and offshore finance, the Bahami- censes to Kerr-McGee Corp. to search for oil. the celebration of culture of the Bahamas.
an economy has prospered since the 1950s. The Bahamian Government also has adopt- History on the Bahamas and other informa-
Significant challenges in areas such as edu- ed a proactive approach to courting foreign tion about the culture of the Bahamas can
cation, health care, housing, international investors and has conducted major invest- be located through a number of different
narcotics trafficking, and illegal immigration ment missions to the Far East, Europe, Latin sources, including most travel guides. You
from Haiti continue to be issues. The Hawks- America, and Canada. The primary purpose can also make history come alive during
bill Creek Agreement established a duty-free of the trips was to restore the reputation of your trip to the Bahamas by taking an his-
zone in Freeport, The Bahamas’ second-larg- The Bahamas in these markets. torical walking tour. Nassau on New Provi-
est city, with a nearby industrial park to en- dence Island in particular features one of
courage foreign industrial investment. The T he people of the Bahamas celebrate the best historical walking tours, where you
Hong Kong-based firm Hutchison Whampoa their colorful history in many ways will see the Queens Staircase, visit the Straw
has opened a container port in Freeport. The including exhibits, guided tours, and an- Market, and more. Historical events such as
Bahamian Parliament approved legislation nual festivals. Although their ancestors the celebration of Columbus Day on San Sal-
in 1993 that extended most Freeport tax and were brought here as slaves to work on the vador Island are still recognized throughout
duty exemptions through 2054. plantations, the sting of oppression has the islands as well.
vanished through the years along with the
A major contribution to the recent growth past. Bahamians are proud of their owner-
in the overall Bahamian economy is Sun
International’s Atlantis Resort and Casino,