Types of Economic Activity

Types of economic activities 1. Primary industry * firstborn stage in the production process * Major employer in inadequate countries * Involves the exploitation of natural resources * Includes activities such as agriculture, mining, fishing and forestry * Products be of piteous economic apprise * Products are either food for human phthisis (e. g. fish) or raw materials for other(a) economic activities (e. g. rubber for the tyre industry) 2. auxiliary industry * Second stage in the production process * in like manner called the manufacturing industry Involves processing raw materials from the primary industry to add shelter to them* Products are of higher economic value than those of the primary industry * production is either a final product (e. g. computer) or a separate of the final product (e. g. microchip for the computer) 3. tertiary industry * Involves the provision of go to companies or final consumers * Includes the financial services, health care, education an d tourism sectors * Contributes much to the economy as a country becomes more developed * passel are the main resource * Output is of high economic value Economic development in the Caribbean The pileus city is usually the private prosperous core while the hinterlands are less prosperous * volumed and successful industries tend to be located in and around the capital * The rural areas will have fewer and less successful or even declining industries * Governments have set up industrial estates in poorer areas to thin out the income disparity* Disparities in economic wealth between Caribbean countries have make integration difficult * Organisation of Eastern Caribbean States (OECS) is a small base formed within the CARICOM to help with the economic development of member states mensuration economic development . Gross Domestic Product (GDP) * Total mart value of goods and services generated within a country over a given period 2. Gross National Product (GNP) * Total commercial ise value of goods and services generated by a countrys citizens, both(prenominal) domestically and overseas, during a given period Primary industry Forestry * The art, comprehension and practice of containing and managing forests and plantations, and related natural resources* Guyana and Belize have significant forestry industries * Trinidad and Tobago, Dominica, St Lucia and St Vincent overly have substantial forest resources * Jamaica, Barbados and Haiti have almost epleted their forest resources Tertiary industry Tourism * Provision of services to people who travel to and taking into custody in places away from their place of residence for leisure purposes or differently * Generates income for a country through the sale of domestic goods and services to tourists and the practice session of its people in tourism-related businesses * Major contributor to GDP * Accounts for more than 60% of the GDP in countries such as the Bahamas, Jamaica, Antigua and Barbuda, and the Nethe rlands Antilles Earns 90% of the foreign transform for some countries Major tourist destinations in the Caribbean (2005) end Total tourist arrivals Destination Total tourist arrivals Anguilla 62,084 Grenada 98,244 Antigua & Barbuda 245,384 Guyana 116,596 Aruba 732,514 Jamaica 1,478,663 Bahamas 1,514,532 Martinique 474,126 Barbados 547,534 Montserrat 9,690 Bermuda 269,576 Puerto Rico 1,449,785 British Virgin Islands 337,135 St. Lucia 317,939 cayman Islands 167,801 St. Vincent & Grenadines 95,505 Cuba 2,319,334 Suriname 144,899 Curacao 222,070 Trinidad & Tobago 460,195 Dominican Republic 3,690,692 US Virgin Islands 697,033 Case study Tourism industry in Jamaica Jamaica has a strong global bearing * The country is noted for its excellent beaches such as Negril and Doctors Cave in Montego Bay.* It is also known for the Dunns River Falls, YS Falls, river rafting on the Rio Grande, drop cloth jumping at Ricks Cafe and many other attractions. * Tourism earns the country up to US$970 m illion a category in foreign exchange * The industry is well developed compared to other Caribbean countries. Activities occur both day and night throughout the twelvemonth with something to lodge in everyone. Physical factors influencing the tourism industry in Jamaica 1. Climate Warm and homophile(a) throughout the year * Attracts people from cool temperate regions such as the northern parts of the US * Tourists can enjoy the beaches all year round 2. Natural resources * White sandy beaches * Clear seas rich with leatherneck life * Beautiful scenery (e. g. Blue Mountains) * Lush vegetation * enormous variety of flora and fauna 3. Proximity to markets * Near to Canada, the US and Europe, which are where the bulk of the tourists come from * Travel to Jamaica is relatively cost-effective and time-efficient for these tourists Human factors influencing the tourism industry in Jamaica