The major industry in The Bahamas is Tourism. The Government is giving high priority to making The Bahamas a quality tourist destination, and positioning The Bahamas as the premier eco- sensitive destination in the Caribbean. 

1. The Hotels Encouragement Act offers the following benefits and incentives to the developers of existing and potential hotels:

1. Customs duty refunds of the costs of construction materials, furniture and furnishings;

2. Duty free importation of construction plant; and

3. A 10-year exemption from real property taxes.

2. The Industries Encouragement Act provides for the establishment and development of industries. Its incentives are designed primarily for manufacturing, assembling or otherwise preparing products for export from The Bahamas. The investor must apply to become an Approved Manufacturer and the product must be designated an Approved Product. The incentives are customs duty and tax concessions.
3. Under the provisions of The Agricultural Manufactories Act certain duty-free exemptions apply on machinery and materials necessary for the factory.
4. Concessions and incentives are provided to an approved manufacturer who receives a license to distill, rectify or compound spirits or brew or make spirits or beer.
5. The Bahamas Agricultural and Industrial Corporation can undertake direct investment with private enterprise in ventures involving international investors.
6. The Investment Incentives Act provides special concessions for hotel and industrial investments in different islands in The Bahamas. These are zoned in accordance with their need for development. The best concession is granted to the zone with the highest priority for development.
7. In Grand Bahama, there are special concessions under the Hawksbill Creek Agreement.
8. Other incentives are provided for in: