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What other industries excluding tourism should the Bahamas consider for investment?

Bree Deveaux February 22nd, 2021 Econ 211 Section 3

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Why do we need to invest in another #1 industry if we already have one?

As we all know The Bahamas is known for its its beautiful sun, sand and sea .  Due to that attraction, we have a vast number of tourist that visits our archipelago. Because of this, tourism has become our #1 industry generating income for our country for years. However, due to the pandemic the country has been at a financial downfall.  It would be in our best interest to invest in other industries to support the country seeing as though the pandemic isn’t going anywhere.

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How is salt made? The sun and wind provide the energy that evaporates the water and produces concentrated brine. Impurities are removed by controlled movement of the brine through reservoirs. The process contributes to the growth of an algal mat on the bottom of the reservoirs and prevents the seawater from drying up.

This Photo  by Unknown Author is licensed under  CC BY-SA

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H ow many salt is produced and how much is it worth?

About One million pounds of salt is produced each year. Morton Salt generates about $1.1 Billion each year. Not only would The Bahamas fully producing salt help us to generate a higher income but it would also provide up to 3,000 citizens with more jobs. The average employee makes roughly a little over $57,000 a year in the US. However, the salt industy is not fully owned by us as a result we will not benefit nearly as much as we should if we did.

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There are a list of many industies within the bahamas however, a lot of people do not know that pharmicuticals are one of the many top industries for the Bahamas. We as Bahamians do not realize that we have the remedy for just about any disease. A lot of people can not afford the medication that they need.  Doctor’s usually perscribe medication to treat a condition and not to cure it. However, the ”bush medicine” that we have in the Bahamas have been proven to cure most illnesses.

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What exactly is Aragonite and what is it used for?

According to google “Aragonite is a carbonate mineral, one of the three most common naturally occurring crystal forms of calcium carbonate,  CaCO ₃. It is formed by biological and physical processes, including precipitation from marine and freshwater environments. Aragonite  is considered essential for the replication of reef conditions.  Aragonite  provides the materials necessary for much sea life and also keeps the pH of the water close to its natural level, to prevent the dissolution of biogenic calcium carbonate.”