World Bank: Bahamas Caricom’s richest nation
Story Created: Dec 27, 2013 at 11:07 PM ECT
Story Updated: Dec 27, 2013 at 11:07 PM ECT
The World Bank has rated the Bahamas as the wealthiest Caribbean Community (Caricom) country.
The Washington-based financial institution said that the Bahamas is the most economically prosperous country relying on tourism to generate most of its economic activity.
It said that the tourism industry not only accounts for over 60 per cent of the Bahamian gross domestic product (GDP), but provides jobs for more than half the country’s workforce.
The Bahamas, with a gross national income (GNI) of US$21,280 per capita, is one of the richest countries in the Americas.
The World Bank, in its 2014 World Development Report, noted that oil-rich Trinidad and Tobago, with a GNI of US$14,440, is one of the wealthiest and well-developed nations in the Caribbean.
In November 2011, the Organisation for Economic Cooperation and Development (OECD) removed Trinidad and Tobago from its list of developing countries.
—CMC
Story Created: Dec 27, 2013 at 11:07 PM ECT
Story Updated: Dec 27, 2013 at 11:07 PM ECT
l BRIDGETOWN
The World Bank has rated the Bahamas as the wealthiest Caribbean Community (Caricom) country.
The Washington-based financial institution said that the Bahamas is the most economically prosperous country relying on tourism to generate most of its economic activity.
It said that the tourism industry not only accounts for over 60 per cent of the Bahamian gross domestic product (GDP), but provides jobs for more than half the country’s workforce.
The Bahamas, with a gross national income (GNI) of US$21,280 per capita, is one of the richest countries in the Americas.
The World Bank, in its 2014 World Development Report, noted that oil-rich Trinidad and Tobago, with a GNI of US$14,440, is one of the wealthiest and well-developed nations in the Caribbean.
In November 2011, the Organisation for Economic Cooperation and Development (OECD) removed Trinidad and Tobago from its list of developing countries.
—CMC
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