Freeport, Bahamas

Capital City

With a population of just 45,945, this Bahamian free trade zone has grown into the country's second-largest city. However, the reality on the ground is a far cry from the glossy tourism brochures. The Grand Bahama Port Authority, which controls much of the local economy, is mired in a long-running feud between its two owning families, racking up millions in legal fees and allegedly owing the government $357 million. Meanwhile, the city was devastated by Hurricane Dorian in 2019, with up to 13,000 homes destroyed. Bureaucracy and natural disasters are persistent headaches for residents. Freeport may appeal to those seeking tax-free business opportunities, but for most, the cons likely outweigh the pros.