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The Bahamas, the United States, New York State, and New York City all show long-term economic growth and similar reactions to significant events such as the 2008 recession and the COVID-19 pandemic. Nevertheless, the Bahamas has much larger fluctuations in GDP, inflation, and unemployment since it is a small island economy that is very much dependent on tourism. The U.S., New York State, and New York City have bigger and more varied economies that make it possible for them to recover quicker and be more stable most of the time. Life expectancy keeps rising in all the areas but it goes down sharply during the pandemic, particularly in New York City because of high population density.These disparities are mainly accounted for by the differences in geography, colonial history, and policy. The island location of the Bahamas and its colonial past have restricted the diversification while the U.S. and New York are still benefiting from strong institutions, investment, and economic policy that are supportive of long-term growth and stability.
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