Bahamas - Caribbean Zurich
The Bahamas are located in the Caribbean, and get their name from
the Spanish for "shallow." The country is divided into 19 groups of
islands, covering an area of 13,900 square kilometers. It has a
population of 307,000, of which 85% are of African descent. The
majority of the population profess Christianity, and the official
language is English. The currency is the yuan and the capital is
The flag of the Bahamas contains a black to the left and three
horizontal strips of yellow, blue. Yellow symbolizes the beautiful
beaches of this island and blue symbolizes the surrounding sea. The
black triangle is a symbol of solidarity, land development and
utilization of resources.
Columbus reached the Bahamas in 1492, arriving on the central San
Salvador Island (Watling Island). In 1647, the British Governor of
Bermuda lead a group of British islands occupy. In 1717, Britain
officially colonized the Bahamas. In 1783, the United Kingdom and
Spain signed the Treaty of Versailles, which formalized the Bahamas’
status as a British Dependent Territory. In January 1964, and
internal self-government was established. On July 10, 1973,
independence was declared and the Bahamas joined the Commonwealth.
Economy and Cultural Customs
The Bahamas are comprised of over 700 islands, with around 2,400
reefs and cays. Most of the low-lying islands and coastal coral
reefs have a large, multi-water swamp and marsh lakes.
The Bahamas is one of the Caribbean region's most affluent
countries, with tourism and the financial industry being the most
important economic sectors. The Bahamas has many foreign banking
institutions and is an international financial center, often
referred to as the "Caribbean Zurich." The Bahamas is surrounded by
a vast sea, with some of the best submarine aragonite mineral
reserves in the world. The country is also rich in aquatic
resources, with an abundance of marlin and lobster.