Grand Bahama Island, Bahamas 12 January, 2012

BAHAMAS BUSINESS OUTLOOK 2012 ?

In May 2002 Grand Bahama's unemployment rate was 6.4%, down slightly
from a year earlier when it was 6.8%.In May 2007, five years later it
was 8.8%, an increase of about 38%. ?

In point of fact, Grand Bahama's unemployment rate grew every year from
2002 to 2007, except in 2006 when it took a slight dip to 8.4 from 11%,
still a full 1.5 percentage point higher than it was in 2002.This was
all indicative of a troubled economy beginning in 2003.?

THEN, NOW & THE DAYS AHEAD?

WHY THE FIVE YEARS OF ?DECLINE 2002 - 2007??

No new investments, domestic or international;?

The devastation caused by hurricanes Frances and Jeanne, particularly
closure of Royal Oasis, with no appropriate economic response; andThe
death of Edward St. George and the ensuing, protracted destabilization
of the Grand Bahama Port