November 23rd, 2011
The country of Maldives is officially known as the Republic of Maldives, or as many people know of it as the Maldive Islands. It is located in the Indian Ocean, island nation, and the way that it is formed is by a double chain of twenty-six atolls (1). An “atoll” is a coral island that surrounds a “lagoon” partially or completely (1). The major surrounding countries near Maldives are Sri Lanka and India, Maldives is about 430 miles from Sri Lanka and about 250 miles from India (1). The major type/s of topography for Maldives is the fact that it is a cluster of around 1,200 small islands (2). One of ...view middle of the document...
The main thing that is powering their economic growth is Tourism (4). Annually, the Maldive Islands get 700,000 tourists (4). Other factors that help boost the economic growth are things such as transportation, communication, and construction sectors (4). Fishing is also another important factor to the growth of the economy (4). In regards to the question of is it sustainable, there are a few key factors for developing countries to follow. They need to be able to integrate into the world economy, maintain high rates of savings and investments, and a government that is capable and committed to running the country (5).
Maldive Flag. Maldive Native Costume.
The economy in Maldive is a strong economy. On average, year after year, they have experienced a slow increase percentage of Per Capita Income, from 3.11 in the 1980’s to 7.43 in 2011 (6). The inflation rate in Maldives has steadily stayed low, their GDP is around $1.48 billion, external debt is sitting around $933 million, and their unemployment was a little high at 14.4% (7). For Maldives, there is a huge value put on natural capital. Maldives is home to 5% of the global coral reefs, you find roughly 1,100 different kind of fishes and over 250 different corals in this area (8). This becomes a major tourist hot spot which brings capital to the nation. For my research on the pollution control, not much information came up meaning that they experience little to no air pollution in this area. For the section on resources use there is a lot of value put forth in it, the only natural resource that Maldive has is fish. Fishing makes up a huge part of their nations economy.
A major environmental problem facing Maldives is that the Island is literally sinking, there is only about 7 feet of natural ground left before the ocean waters rise above the island. An economic tool that is being used for this problem is that the President of Maldives, Mohamed Nasheed, planned to purchase new land in India, Sri Lanka, and Australia (1). Also, another environmental problem facing the nation is greenhouse gases. The president of Maldives believed that by cutting the greenhouse emissions to help/prevent the nation from being totally submerged under water, the economic tool used is that they put a plan in action to have all greenhouse gas emissions eliminated by 2020 (1). According to the rural poverty portal Maldives has no significant poverty, their poverty level is quite low (9). Even though they do not have a high level of poverty, they still remain vulnerable in certain populated areas. The difference of income between the nation’s capital, Male, and the atolls has increased from 1.7 times to 2.3 times (9). This means that the population living in the capital is making 2.3 times more than those you live on the surrounding islands. The change in poverty levels would not have a significant affect on the environmental problems facing the country.