Essay On Pestle Analysis Of The Bahamas

5. How are the wealth and productivity of a nation usually measured, and what other factors must be considered when evaluating the well-being of a nation’s people?

Economic development can be defined generally as involving an improvement in economic welfare, measured using a variety of indices, such as the Human Development Index (HDI). A developing country is described as a nation with a lower standard of living, underdeveloped industrial base, and a low HDI relative to other countries. There are several factors which may have the effect of limiting economic development in such countries. Factors such as these include: primary product dependency, the savings gap and political instability.

14. Explain why a nation’s GDP is both a good and poor measure of its economic well-being and progress?

Economic Development: Growth is associated with structural, social change and change in the important institutions of the economy.

A private yacht charter in the Bahamas is the ideal way to vacation on the water. Cruise ships may be nice for some people, but I couldn't imagine the lack of privacy or control over my own schedule. Private yacht charters allow you to make your holiday truly yours, and you are not at the mercy of a staff that must cater to hundreds of others passengers. The peace and beauty of the Bahamas is better appreciated on a private yacht rather than a crowded cruise ship surrounded by strangers.

     The documentary Life and Debt portrays a true example of the impact economic globalization can have on a developing country. When most Americans think about Jamaica, we think about the beautiful beaches, warm weather, and friendly people that make it a fabulous vacation spot. This movie shows the place in a different light, by showing a pressuring problem of debt. The everyday survival of many Jamaicans is based on the economic decisions of the United States and other powerful foreign countries.

The Bahamas The Bahamas is full of a vast array of inimitable little islands, populated by the laid back people of the Caribbean. Great Exuma is one of these, a place of warm tranquillity and relaxation, a place where peace can be found. A minute number of people inhabit the 90 mile stretch of land where you will find an amazing variety of wildlife.

Economic development can be defined generally as involving an improvement in economic welfare, measured using a variety of indices, such as the Human Development Index (HDI). A developing country is described as a nation with a lower standard of living, underdeveloped industrial base, and a low HDI relative to other countries. There are several factors which may have the effect of limiting economic development in such countries. Factors such as these include: primary product dependency, the savings gap and political instability.

There are various other important aspects associated with the economy in general and community in particular that determine wellbeing of the economic agents and these aspects are totally ignored by the concept of GDP. GDP is unable to take into account the strengths of marriages, the intelligence of the public, and the integrity of the public institutions. These moral aspects of the community play significant role in its economic development too. Wisdom, courage, learning, compassion, and devotion all such factors make our lives worthwhile and therefore it is not a wise option to ignore these factors while talking about the economic

The Bahamas is known for its warm sunshine, perfect climate, and pristine beaches with crystal clear water lapping at the shores. It is one of the most popular and beautiful tourist destinations in the world and attracts thousands of travelers every year. Though gorgeous strips of sand ring every island of this 700-island archipelago, it is a multifaceted destination and offers a variety of exclusively Bahamian experiences for every type of traveler.

PESTEL analysis helps to infer whether a particular factor is helping the organization to achieve its goals or is affecting in its road to success.

Taking into consideration the trickle-down theory of economics by Lewis, if the growth in economy is not sufficient to satisfy the needs and wants of the upper sections, nothing or very little shall trickle down to the lower sections in the hierarchy of society. Thus, the gap between the rich and poor widens and though economic growth has impacted a certain section of society, this cannot be considered development. Another example is an increase in the defence output of a nation, which accounts for an increased GDP but does not in any way contribute to economic development. Economic growth is not enough in itself to measure economic development as even if there has been a leap in the income of people in a particular nation,

The questions are raised as what and how the wealth is distributed or allocated among societies. Countries with similar average incomes can differ substantially when it comes to people’s quality of life such as social justice, access to education and health care, job opportunities, availability of clean air and safe drinking water, the threat of crime, freedom of speech, life expectancy, birth-death control, identity, culture, conservation, equal opportunities, environmental change. Development is important as it covers a wide range process involving cultural, economic, environmental, political, social and technological change of a country. Regarding goals and means of development, recent United Nations documents emphasize on human development measured by life expectancy, adult literacy, access to all three levels of education as well as people‘s average income which is a necessary condition of their freedom of choice. In other words, human development incorporates all aspects of individuals’ well -being from their health status to their economic and political freedom. The Human Development Report 1996 of UNDP focuses on development as the end and economic growth a

This can be measured by the following formula; Per capita nominal GDP = Nominal GDP / Population, Per capita real GDP = Real GDP / Population. Seven factors determine economic growth. Natural resources such as land, mineral deposits, waterways; climatic conditions provide an essential foundation to economic growth. Combined with the other resources of capital, labor and enterprises, natural resources can be developed and organized to increase the productive capacity if the nation. Consequently the quality and size of the labor force is a major determinant of economic growth. Education and vocational training are essential the growth potential of a nation. The promotion of education and job training schemes increase the knowledge, skills and flexibility of the workforce that contributes to potentially higher levels of productivity and efficiency. Whether from natural increase or immigration population growth can cause a higher level of economic growth. An increasing population requires increased public spending on housing, education and other social needs while businesses expectations of

The Philippine economy is progressively increasing according to the World Bank Org. According to the date compiled by CNN Money, the Philippines is projected to be the fourth fastest in the world, that has a GDP at 6.7%. It is projected that the Philippines economy is higher than Bangladesh 6.3%.The agriculture is one of the factors that affects the economy of the Philippines. It contributes the GDP and labor force in the Philippines.