Key Developments And Latest Trends In Banking & Finance In The Bahamas

With the worst of the COVID-19 pandemic and related restrictions firmly in the past, the Bahamian economy has continued to recover over the last 12 months, primarily due to strong performance in the tourism sector, which some are referring to as “revenge tourism”. In the Monthly Economic and Financial Developments Report for July 2023, the Central Bank of The Bahamas indicated that “the growth trajectory of the domestic economy persisted, although at a moderate pace”, and this growth is projected to continue for the remainder of 2023. While this positive news is being well received, the cost-of-living crisis, high inflation, record energy costs, and climate change, remain at the forefront of the minds of Bahamian consumers (in the same way as applies to consumers in most other countries).

Insurance: Delivering For A Ca…