We're always looking for ways to make Geoba.se better. Have an idea? See something that needs fixing? Let us know!
|Country Study > Chapter 4 > Economy|
The economy underwent a substantial transformation in the twentieth century as tourism replaced sugar as the principal earner of foreign exchange and the primary source of employment. Like the previously dominant sugar industry, tourism was controlled primarily by foreign capital. This control was in part the result of insufficient domestic capital, the local upper class having made more of its investments in commerce than in entrepreneurship. In an attempt to fill the local void, the government established state enterprises. Their specific purpose was to develop areas where foreigners were hesitant to invest, such as infrastructure or the faltering sugar industry, or to create domestic competition with foreign-owned enterprises, such as those in the tourist industry. The other major sectors of the economy, especially agriculture, were not strong enough to support the tourist industry; as a consequence, many items had to be imported.
Data as of November 1987
Note that current information from the CIA World Factbook, U.S. Department of State Background Notes, Australia's Department of Foreign Affairs and Trade Country Briefs, the UK's Foreign and Commonwealth Office's Country Profiles, and the World Bank can be found on Factba.se.
Editor's Note: Country Studies included here were published between 1988 and 1998. The Country study for Antigua and Barbuda was first published in 1987. Where available, the data has been updated through 2008. The date at the bottom of each section will indicate the time period of the data. Information on some countries may no longer be up to date. See the "Research Completed" date at the beginning of each study on the Title Page or the "Data as of" date at the end of each section of text. This information is included due to its comprehensiveness and for historical purposes.
Antigua and Barbuda Main Page
Country Studies Main Page
Section 31 of 62
($) East Caribbean Dollar (XCD)
Convert to Any Currency