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In order to examine economic development of southern pacific islands it would be appropriate to focus on certain islands economies. Most minerals, metallic and nonmetallic, occur in Oceania, but few are found in sufficient quantities for commercial exploitation. The exceptions are gold, which in the early years of organized settlement was a major export; coal, which is still mined to a considerable extent; iron sands, which are exploited both for export and for domestic use; and, most recently, natural gas. In addition to mining, construction materials, with which countries of the region are well endowed, are quarried. Agriculture is the mainstay of the south pacific islands economies. Coconuts, bananas, and vanilla beans constitute the main cash crops, and other important crops include yams, taro, cassava, corn (maize), watermelons, pineapples, and tomatoes.
All land is essentially owned by the Crown, but large estates have been divided among the nobles of islands. Manufacturing industries include a plant that produces plastic pipe; several charcoal-producing plants, which export charcoal to New Zealand; canning and corrugated-iron-rolling factories; small handicraft enterprises; and other manufacturing concerns established by local and foreign investors. More than half of small islands road networks are all-weather roads, almost all of which are located on the largest islands. Majority of islands have no railroads. New Zealand, the biggest island of the region, can serve as the perfect example of development in southern pacific region.
New Zealand just like other southern pacific countries has a small, developing economy with a relatively low standard of living. In the late 19 th and early 20 th centuries New Zealand's standard of living was one of the highest in the world, but since World War II the rate of growth has been one of the slowest among the developed countries. The main causes of this retardation have been the slow growth of the economy of the United Kingdom (which formerly was the main destination of New Zealand's exports) and the high tariffs imposed by the major industrial nations against the country's agricultural products (e. g. , butter and meat). New Zealand's economic history in the second half of the 20 th century has consisted largely of the attempt to evade these protectionist constraints by diversifying its farm economy and by expanding its manufacturing base. This has been achieved partly by large-scale government intervention and partly by the natural working of market forces.
Currently New Zealand is finally recovering from the rapid economic growth it experienced in the mid- 90 s, now that the worst of the Asian financial crisis effects are over. New Zealand lost many export markets in Asia, but looked to the U. S. and European markets to replace the lost customers. The country remains dependent on trade due to its small size and isolation; price and access to foreign markets are a constant concern. U.
S. goods and services are increasingly competitive in New Zealand. The market-led economy offers many opportunities for U. S. exporters and investors. A number of U.
S. companies have branches in New Zealand. Many companies operate through local agents, and some are in association in joint ventures. In 1992, the U. S. Government recognized the generally liberal trading environment in New Zealand by signing a bilateral Trade and Investment Framework Agreement in 1992, which provided for periodic government-to-government consultations on bilateral and multilateral trade and investment issues and concerns.
The gross domestic product of New Zealand for 1998 was $ 61. 1 billion, this is an over 150 % increase from 1989 when it was $ 39. 1 billion. In 1989 New Zealand had a per capita GDP of $ 11, 600, now it has a per capita GDP of $ 17, 000 which is near the amount of the big Western European economies. New Zealand currently has one of the lowest inflation in the industrial world 1. 1 %. This is down more than 18 percentage points from the rate in 1987. The major industries of New Zealand are currently food processing, wood and paper products, textiles, machinery, transportation equipment, banking and insurance, tourism, mining. New Zealand is entering a phase of economic stability as a World economic power that supports open markets.
We should continue to embrace them as our partner and maintain our combined efforts to increase free trade. Tourism industry brings a lot of income to southern pacific countries. For countries of Oceania tourism has a lot to offer but at the same time, care has to be taken not to mistreat it. The social and cultural impacts of tourism on Oceania so far have been on the whole beneficial but as tourism continues to grow this could change. Non-economic benefits of tourism are maximized when visitors and hosts share mutual interests and when trade is relatively small. However these factors limit potential tourist markets and income.
One solution to this problem could be promotion of south pacific islands as a high quality destination at a higher price, i. e. less tourists spending more money. South pacific islands tourism is largely reliant on eco-tourism so to maintain the tourism industry it is imperative that our environment is conserved. However tourism itself can have negative effects on the environment.
The tourism sector must act responsibly in its use of the environment and any use must be sustainable. If south pacific islands are to see more growth in tourism we must try and make the country more attractive to visit. More flights, low visa requirements, favorable exchange rates are all facilitators that will make New Zealand more appealing. With a high level of promotions overseas that will motivate tourists to think of our country as a destination which will be able to satisfy their needs.
Travel facilitators and motivators have been fundamental in the development of tourism to where it is today both in Oceania and internationally. Travel facilitators are simply the factors that facilitate travel for a person. These are an adequate disposable income and enough leisure time. As a result of the industrial revolution in the second half of the 19 th century global tourism increased as the middle class became increasingly wealthy.
Then with the introduction of paid holidays and pay parity for men and woman, within the last fifty years the amount of tourism has risen sharply. Other facilitators include ease of access to travel documents such as visas or passports, attractive exchange rates and political stability. Political problems in the Middle East do not facilitate travel to that region. In the same way, the murder of tourists in Africa recently does not motivate travel to that area. Motivators are things directing us to travel. A motivator might be a personal need that must be satisfied or it may be a pulling factor like the qualities of a specific destination.
Developments in south pacific islands the last fifty years have dramatically changed tourism. The beginning of Saturday and later Sunday trading one, while licensing changes resulting in longer hours for bars and restaurants have maid Fiji and especially New Zealand more attractive. Transportation developments have been significant for New Zealand because of its isolation. The jet engine made it cheaper and considerably faster than boat travel to get there.
To south pacific islands, tourism is not just about international movement. New Zealand is the most developed country in Oceania. It is also involved into world political and economic affairs than other countries of the region. The large continental islands of Melanesia such as New Guinea, New Caledonia, and Viti Levu (Great Fiji) have a different physical basis of life and a wide variation in climate and fertility; moreover, their rugged terrain has made for social isolation. Political and social organization has been small in scale. The margin above subsistence has not been great enough to allow for elaborate ceremonial.
The low islands also allowed homogeneity and wide social groupings, but their land resources offered no great margin for ceremonial life. These contrasts within Oceania were obvious to early European visitors, but they conceal a similarity: whether small, with leadership a matter of acquiring influence rather than hereditary position, or larger, with chiefs surrounded with awe and reverence, Oceanic societies and countries but New Zealand all rested and continue to exist on the principle of reciprocity.
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Research essay sample on Trade And Investment Standard Of Living
