Assessment of the effects and impacts of the COVID-19 pandemic in The Bahamas

Abstract

The COVID-19 pandemic has disrupted the world’s economic order and global public health. Social distancing measures to curb the spread of the virus created significant challenges for global economic activity. Sectors such as tourism virtually shut down. The economy of The Bahamas is heavily reliant on tourism, which accounts for approximately 50% of the country’s Gross Domestic Product (GDP). The pandemic also highlighted the country’s socio-economic vulnerability as businesses and citizens felt the crunch. These impacts highlighted the need for comprehensive Disaster Risk Management (DRM) and Health Risk Management (HRM) among other strategies and instruments to serve the country better.

Through a partnership with the Economic Commission for Latin America and the Caribbean (ECLAC), the Inter-American Development Bank (IDB) deployed a team of local and international research experts to the evaluate and collect pertinent data to prepare this report and to provide recommendations that could inform the creation of a sustainable Health Risk Management (HRM) framework. Within this report there is a comprehensive overview of the effects that COVID-19 has had on the economy of The Bahamas and an accounting of the losses, broken down by sector. It analyzes key vulnerabilities and threats, and compiles findings from assessments with recommendations to build resilience in a way that honors the nation’s past, while advancing the present, and preserving its future.