What Is It That Stabilizes Growth in the Bahamas?

The Bahamas is the only case of a fully sovereign post-colonial black majority state which serves as an offshore base like this. The other counterpart is Mauritius interestingly in the Indian Ocean with a large Indian majority population and it also sustains an offshore economy. What stabilizes growth sufficiently of you to create a political cocoon around the offshore centre is another offshore economy, tourism and property development. And that accounts for between 60 and 70% of GDP. So we misunderstand these islands if we think of them principally through the lens of tax avoidance,. really tax avoidance and offshore finance is the icing on the cake.