Today The Bahamas has become one of the world's foremost vacation resorts. Nassau is the political capital and the commercial hub of The Bahamas. Tourism and international banking and investment management accounts for more than 55% of the country's gross domestic product.
The financial crisis of 2007â08, also known as the Global Financial Crisis and 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s.he financial crisis of 2007â08, also known as the Global Financial Crisis and 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s.
In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial bubbles, currency crises, and sovereign defaults. Financial crises directly result in a loss of paper wealth but do not necessarily result in changes in the real economy.