In my recent chat with my cultural friend, she told me about some interesting characteristics of the economy in the Bahamas. They included the tourist industry, foreign business and exports, and finally festivals and celebrations held there.

She explained that the tourist industry is very similiar to our own here in Southwest Florida. With its year-round mild subtropical climate and beautiful, uncrowded beaches, it makes for an ideal getaway spot which they try to take full advantage of. Over 50% of the revenue and employment is tied to the tourist industry.

Next was the foreign business presence there. Because of the absence of taxes, foreign investments and companies account for about 90% of the businesses operated there. The latest surges have occurred in agriculture, fisheries, finance, and particulary oil refining, with the majority of these ventures being foreign owned. She also said the main exports include cement, petroleum products, chemicals, and fish.

Lastly, she mentioned a couple of the celebrations and festivals that occur in the Bahamas. Her favorite was the "Fruits of the Sea" festival which is the major event in the summertime that gives the lagging summer economy (tourist off-season) a shot in the arm. Her favorite as a child was Christmas, in which loved ones exchange gifts much like we do here. The main difference there is, the gifts are usually home-made or food items grown and/or prepared instead of bought in stores, like most Americans do for gifts.