The changing economic world Flashcards
How much does tourism contirbute to jamaica’s economy
12% of the country’s GDP
Receives 4 million visitors annually
How has jamaica reduced the development gap
Tourism contributes over 50% of its total foreign exchange earnings ($2 billion)
And employs second largest number of jamaicans (200,000)
How does tourism benefit farmers in jamaica
Jamaica’s sandals resort farmers program - 10 farmers in 1996 supplying 2 hotels, 80 farmers in 2004, supplying hotels island-wide.
five farmers will be the sole providers of irish potatoes to the sandals group - 11 resorts can buy locally.
challenges from tourism in jamaica
Jamaica depends on tourism so if this falls (from 12% of gdp) in the off season etc, economy is affected, jobs are lost.
Only 7% of profit stays in jamaica, most is lost to TNCs
Water lost to tourists
Carbon emissions increase, coral reefs damaged by buildings
local people cannot afford to use the facilities put in place for tourists
social/cultural context of Nigeria
Nollywood film industry is the second largest in the world. Many american corporations such as Microsoft and Walmart operate in Nigeria
religions such as christianity and islam
Nigerian football team has won the African cup 3 times
Political contex of nigeria
Nigeria was ‘made’ in 1883 by europeans who exploited the country
Became independant in 1960, Stable economy in 1999 - wars and lack of opportunity greatly affected nigeria
Boko Haram, Igbo group - tensions
Countries like China, USA, SA starting to invest
Environmental context of nigeria
goes from semi-desert to grassland
Jos Plateau
Tsetse fly spreads a lethal parasite that prevents farmers from keeping livestock
GDP per capita in 2020 for Nigeria
$2274 and growing
Why is Nigeria globally important?
in 2014 it was the world’s 21st largest economy
12th largest oil producer - provides 12% of the world’s oil
0.081 inc in HDI over 10 years, 2.4 year inc of life expectancy over 5 years
Importance of Nigeria
largest population in africa - 185 million
70% employed in agriculture - largest farm output in africa
highly educated youth, skilled workforce , multiplier effect
change of Nigerian economy
1990s - oil
2000s - diversifying, non-oil
2020 - loss of jobs, decrease in economic activity
Importance of oil in Nigeria
in 2006, China allocated 1 billion$ to Nigeria for development of railways
China, UK, USA, Germany invest
Beijing invested $4 billion in Nigerian Oil
PetroChina receives over 30,000 barrels of oil a day from Nigeria
opportunities Shell has brought to Nigeria
Largest oil producer for shell - over 30% of total production
invested over $15 billion over 10 years
Shell foundation helps sustainability and local communities
Direct employment of 65k, related ares 250k
challenges Shell has brought to nigeria
environmental and human rights abuse - 9 million oil barrels spilt in the last 50 years
Doesn’t do enough to address poverty - people in the Niger Delta remained poor
lack of transparency and accountability - lack of trust
Nigeria and the wider world
19.6% of nigerian imports are chinese, strong partners
US limits involvement due to human rights issues
ECOWAS, CEN-SAD helps develop links
