This article by USA Today speaks a lot about The Bahamas, and the Caribbean in general, and the downturn in tourism because of the recent economic woes. You should definitely give it a read and find out what the Caribbean is doing to counteract both the lessening of tourism and the impact that American Airline’s “capacity reductions” (and ensuing price increases) has had.
http://www.usatoday.com/travel/destinations/2009-01-18-caribbean-economic-woes_N.htm?loc=interstitialskip
One of the final points mentioned in the article is something we’ve witnessed ourselves – that the super wealthy are still out there buying, selling, and visiting The Bahamas.