Globalization and Tourism in The Bahamas

It is quite evident that the global economy of The Bahamas has been shaped by the tourism industry and one need only review the Bahamian history to support this. Tourism has been the vehicle which has enabled The Bahamas to make the transition from a simple economy based on fishing, privateering and a failing sponge industry, to a sophisticated modern economy. With tourism accounting for as much as 70% of national income, 50% of total employment and 60% of government revenue, it is indeed the bedrock of the global economy of the Bahamas.
According to George Ritzer’s “Globalization the Essentials”, globalization is defined as a transplanetary process or set of processes involving increasing liquidity and the growing multidirectional flows of people, objects, places and information as well as the structures they encounter and create. Simply defined, Tourism is the act of travel for the purpose of either recreation or business and the provision of services for this act. Tourism is a service industry and undoubtedly the most important industry and the fastest growing industry in The Bahamas. It relates to the entry, stay and movement of foreigners inside and outside a certain country. The global importance of Tourism to The Bahamas is vital.
Tourism accounts for approximately fifty percent (50%) of the total Gross Domestic Product (GDP). Moreover, the tourism industry is important to The Bahamas as it brings in foreign currency, allows for the cultural exchange between people and creates a vast amount of employment opportunities for Bahamians. As it brings in lots of tourists, whether it is for leisure, business, education or culture, it also contributes to the standard of living for Bahamians. Due to the global importance of tourism to The Bahamas many citizens of this country are able to live comfortable lives and obtain many amenities of life, whether it be homes, cars, vacations or even private schooling for their children. The most