The financial services sector in The Bahamas has unique competitive advantages due to Grand Bahama’s location and shipping infrastructure.
The Bahamas Financial Services Board’s (BFSB) vision for the besieged industry integrates ‘brick and mortar’ activities with business and trade flows between countries, Wendy Warren, the board’s CEO and executive director, said at the 20th Bahamas Business Outlook.
The BFSB with the support of the government undertook a project to determine where the best opportunities were in the industry for increased revenue and employment.
Four of the world’s richest countries are in the Americas, according to Warren, who said the economies of the United States, Canada, Brazil and Mexico were ranked 1, 8, 10 and 15, respectively. These countries are generally rich in resources, which create capital flow opportunities from the growing Chinese economy, which needs their resources to fuel its growth.
