By Ransford W. Palmer
The e-book examines the prestige of the Anglophone Caribbean economic climate and the choices it faces as conventional preferential exchange preparations start to disappear. huge techniques are explored: one is the transformation of fundamental exports into greater value-added items and the opposite is a shift within the fiscal constitution towards tourism and different providers. The publication constructs a version of a possible Caribbean financial system, defined as a trip economic climate. The trip financial system relies on enduring positive factors of Caribbean life—tourism and migration.—and it truly is intended to supply a benchmark opposed to which to gauge the evolution of the constitution of person economies. the most contribution of this ebook is a concise and methodological remedy of the problems of transition and adjustment that the Caribbean faces in an more and more liberalized overseas buying and selling approach.
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Extra resources for The Caribbean Economy in the Age of Globalization
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This gloomy assessment is joined by a Congressional Research Service Report (2006) that links tourism to the rise in HIV infection rates in some Caribbean countries. According to the report, “Officials in Trinidad and Tobago have expressed concern about the growth of THE CARIBBEAN TOURIST INDUSTRY 45 sex tourism, the so-called ‘beach bum’ phenomenon, and the link to the spread of AIDS. In Jamaica, the resort town of Montego Bay has the highest HIV infection rates in the country. In the Dominican Republic, AIDS activists are concerned about child prostitution in resort areas and the spread of HIV” (p.
A. a. a. a. a. a. a. a. a. a. a. a. 46 10 33 35 36 THE CARIBBEAN ECONOMY AND GLOBALIZATION Because a relatively few skilled workers can handle a large volume of assets, the offshore banking sector is not a large employment generator. As a result its economic impact is greatest in small economies with small populations. Because of the secretive nature of offshore banking, data are not available regarding its economic impact. 2 shows that the contribution of offshore financial services to GDP in Bermuda and the British Virgin Islands is quite large, 27 percent and 40 percent respectively.
9). Rising ocean levels due to global warming is also a potential threat. The protection of these assets is of paramount importance to the future survival of the industry. Although small Caribbean countries can do little about global warming, they can do much about maintaining the environmental integrity of their tourist assets. , 2001, p. 3). 44 THE CARIBBEAN ECONOMY AND GLOBALIZATION Hurricanes are a perennial threat to the tourist environment, and if the projections of the climatologists are correct, global warming will make these hurricanes stronger and more frequent.