Macau
Macau, one of the smallest administrative regions in China, topped the list of the tourism-based economies. The Economy of this region directly depends on the intensity of tourist traffic. Tourism in Macau accounts for about 43.9% of GDP. China receives around $26.6 billion thanks to the industry.
Maldives
The Maldives took the second place on the list of the economies most reliant on tourism. It is an island country in the Indian Ocean that thrives mainly on tourism. People are attracted by extremely clean beaches and tropical landscapes. The country’s tourism industry accounts for 41.5% of GDP.
British Virgin Islands
The third place was given to the British Virgin Islands. According to estimates, 30.3% of the economy is made up of income from the tourism industry. About 50% of tourists come to the islands by cruise ships. Six years ago, travelers brought $290 million to the state budget.
Aruba
Aruba is the fourth tourism-dependent economy. It is a small island and a self-governing entity of the Southern Caribbean. Since 1986, Aruba, the westernmost island of the Lesser Antilles group, is a part of the Kingdom of the Netherlands. Tourism contributes 28.6% to Aruba's national economy.
Seychelles
The Seychelles is the fifth among the tourism-oriented countries. Tourism's benefit to Seychelles' economy equals 21.3%. Moreover, at least 15% of jobs on the Seychelles are created in the tourism industry. Some economic sectors such as transport and construction are funded by this industry.
Bahamas
The sixth place is occupied by the Bahamas located in the southeast of the US state of Florida. It is one of the most popular destinations. Over 50% of all employed people are working in the tourism sector. There, tourism accounts for 19.4% of GDP.
Vanuatu
Vanuatu is the seventh on the list of the tourism-based economies. It is a Pacific island country located in the South Pacific Ocean. Vanuatu’s tourism industry contributes 18.6% to the economy. Coral reefs and submerged ancient ships attract scuba divers from all over the world. Vanuatu is in the top 10 best places for diving.
Antigua and Barbuda
The eighth position on the list was given to Antigua and Barbuda. It is an island state lying between the Caribbean Sea and the Atlantic Ocean. Analysts suppose that 15.5% of the county’s economy is made up of income from the tourism industry. Antigua is known for its luxury resorts. However, the islands’ tourism industry has slightly declined over the past 20 years. This led to a significant drop in government spending.
Economic inequality remains one of the most pressing issues in today's world. To measure the gap between the rich and the poor in each country, the Gini index is used. This coefficient reflects how income is distributed within a society: the closer the index is to 100, the greater the inequality. Let's explore which countries currently have the highest Gini index values
This year has been pivotal for Bitcoin, the world's leading cryptocurrency. One of the key milestones was the approval of Bitcoin spot ETFs by the US Securities and Exchange Commission. In April 2024, Bitcoin also experienced a halving event, which is typically seen as a positive development for the digital asset. This year, the cryptocurrency is up 57%, and analysts remain optimistic about its future. However, they highlight four key factors that could influence Bitcoin's trajectory, both for better and for worse
Analytical periodical US News and World Report has presented its ranking of the best countries in the world in terms of quality of life, based on a survey of nearly 17,000 people. The list considers factors such as economic and political stability, a strong labor market, income equality, family-friendliness, safety, the quality of education, and healthcare systems. Let's find out which countries made it to the top of this list.
