Economic System
What is being produced with the resources:
- More than 70% of Jamaica's GDP comes from services, have of which comes from tourism. People come from all over the world to see the wonders that this country has to offer, though the amount of people coming here has been declining due to the rise in crime and gang violence.
- Since there are so many people coming to this little island, there needs to be somewhere for them to stay! Jamaica makes their money off of hotels, resorts, and recreational activities. The Jamaican people are given jobs to support the influx of tourism. They also make their money by charging cruise-lines to dock in the ports and such.
- People from all over the world come every year, but since the economy has been struggling, there has been a lack of tourism for people are afraid of the heightened crime rates and because there is many more competition around their waters with different or lower prices.
- The only goods that are exported by Jamaica is the alumina, which is found in rock that overs 2/3 of the island. But since tourism has played such a huge role in the GDP, it has become the main focus for income. The Jamaican people don't really export their tourism.
What is the country that you are researching:
Identify the GDP - per capita for the country.
- Jamaica
- The economy is a mixed and free market economy. The country does not have many exports (bauxite taking up only 5%) so the county relies on tourism.
- The Unemployment rate is 15%: this largely effects the crime rate which as unfortunately led to the decrease in tourists per year.
- 64% of the labor force is in services where only 17% is in agriculture due to the lack of government funding which led to high unemployment.
- The poverty rate is at 16.5% which has risen in the past two years. Becuase the crime is so high, less and less people want to come to the country leaving people jobless and out of money.
Identify the GDP - per capita for the country.
- (2013) is about $9,000