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The Bahamas are an island group in North America. It was somewhere in the Bahamas that Columbus first set foot on American soil. The Islands were subsequently depopulated and mostly ignored until they were settled by British colonists in the 17th century. The Bahamas have been an independent country within the Commonwealth since 1973. Nowadays the Bahamas are mostly famous for their beaches but it is also a major offshore financial centre. The Bahamas are the most developed country of Latin America and the Caribbean as well as the world's wealthiest black-majority country.