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Environmental Economics Report

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Bradisha Smith
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Bradisha Smith
100 111 411
Negative Externalities of Tourism & Foreign Investment in The Bahamas
Environmental Economics
Negative Externalities of Tourism & Foreign Investment in The Bahamas
Environmental Economics

Negative Externalities of Tourism & Foreign Investment on The Bahamas’ Environment Although when the first few thoughts that come to mind when The Bahamas is mentioned to outsiders are paradise, luxury, and dream, the complete opposite comes to mind for its locals. The country is indeed a unique treasure of the Atlantic Ocean, however the price that citizens and the environment must pay to sustain such a legacy is starting to fog the crystal clear image the tourist destination needs desperately for its prosperity. The Bahamas’ waters and coastlines are part of its culture and are critical to its economy, as tourism-related activities employ about half of the work force. The livelihoods of many people are dependent on the beautiful islands and seas. Yet, the natural resources on which the country rely so much are under pressure from overfishing and coastal development. Special features like scuba diving and snorkeling sites that exist in the massive Andros Barrier Reef, Thunderball Grotto (of James Bond fame) and the black-coral gardens off Bimini are just a few of the country’s natural resources under threat as a result of careless, profit hungry foreign investors, inexperienced tourists and a financially desperate government. Although monitoring industrial operations, and maintaining and beautifying public parks and beaches are among the government's priorities in environmental protection, the negative externalities of foreign investment projects are often overlooked, thus creating even bigger problems that the government or locals are left with to repair. Both the quality of the Bahamian environment,…...

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