Essay, Research Paper: Barbados

Economics

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The Barbados is a small country located in the Caribbean, island between the
Caribbean Sea and the North Atlantic Ocean, northeast of Venezuela. It’s about
2.5 times the size of Washington, DC. The population of the country is 256,395,
with a growth rate of .25%. 80% of their population is African American and the
most common language is English. The Barbados government is a parliamentary
democracy. It resembles our system. It came from the early English parliament
and developed over the centuries. The purpose of this is so that everything is
efficient, fair, and in accordance with democratic traditions. Another thing
that is different is that there is no judicial review of legislative acts. Our
relations with Barbados people are that many of Americans go there to visit the
island. Most of their income depends on tourism. Tourism is the countries main
industry. We are their main trading partners; we hold 36% of their market. The
business traditions are very similar to the US. They shake hands like we do and
conduct meetings like we do. Barbados main income other than tourism is
sugarcane, molasses and rum. The residents of the island have the highest
standard of living in all the small islands states of the Caribbean. It has a
per capita income of $11,200 with for every one American dollar; Barbados is
equal to $2.0113. Their unemployment rate is 12%, the inflation rate is 2%, and
the GDP is $2.4 billion.

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