Report commissioned by the Inter-American Development Bank (IDB), with funding from the Compete Caribbean Program, in partnership with the Caribbean Development Bank (CDB)
The Private Sector Assessment Report (PSAR) for the Bahamas presents an overall assessment of private-sector development and recommendations for facilitating and accelerating private investment and growth. It draws on both primary and secondary data sources. Primary data analyses were derived from interviews with key stakeholders from the domestic private and public sectors as well as interviews with regional and international agencies. A listing of the main stakeholders interviewed is documented in the original country report.
Secondary data were utilized to describe the state of the country at both the micro and macro levels. In addition to these specific elements of the research, the development of the PSAR was assisted by consultations organized under the Caribbean Growth Forum (CGF)...
As a tourism-dependent economy, the Bahamas is reliant on regular tourist arrivals, and this renders the country vulnerable to shocks in key tourism source markets, particularly the US. According to the World Travel and Tourism Council, the outlook for the sector is positive, with forecast sustained growth in the local tourism industry of 2.6% annually in the period to 2022, and a related contribution to employment growth, with employment in the sector forecast to increase by around 23% between 2011 and 2022. However, the industry is changing, and in order to realize these forecasts the country needs to maintain an advantage in the sector over global competitors, which are steadily improving their tourism offerings.