Netherlands Antilles

The economy of Netherlands Antilles is based on their tourism, offshore finance and petroleum transshipment.  These factors made Netherlands very competent in foreign investments.

Although insufficient water supply and poor soils hinder their agriculture’s development, they have well-developed infrastructure.  Aside from this, almost all their capital and consumer goods are actually imported. The US, Mexico and Venezuela are their major suppliers.

Netherlands Antilles is faring well in the current market.

Puerto Rico

In the Caribbean area, Puerto Rico’s economy is considered as one amongst the most dynamic. Agriculture was the previous focus of income and economic activity. This was surpassed by a diversified industrial sector. 

Since the early 1950’s, US firms have been investing profoundly in Puerto Rico. They were so enticed and encouraged by tax incentives and duty-free access (to the US). Aside from this, they are applying the US law about minimum wage.

Their economy has been mainly dependent on the US. This is ever since the Spanish-American War (1898). The operations for the agricultural entities were taken over by US companies. It was only during the 1940’s when manufacturing outdated agriculture as the main industry of Puerto Rico.

Other Sectors 

More information about their agricultural sector emphasized that the production of dairy and other products from livestock outweighed their sugar production industry. Dairy and livestock products are now the foremost source of their income in this category.

Tourism, on the other hand, is the traditional source of Puerto Rico’s income. In fact, millions of tourists visit their island year after year. Most of these tourists are from the US and are passengers from cruise liners who frequent Puerto Rico.

Puerto Rico’s wonderful beaches and nature preserves have become a favorite destination. In fact, their tourism industry’s current strength can be indicated by the various private and public infrastructure projects being done continuously. The main projects would be their hotels, apartments and establishments that would cater to tourists.

Saint Pierre and Miquelon

Saint Pierre and Miquelon’s economy has the features traditionally earned by their inhabitants. This would be through fishing and through their servicing fleets for fishing operations along Newfoundland’s coast.

It is a sad fact that Saint Pierre and Miquelon’s economy is currently declining. This decline is being directed to two major reasons. One reason would be about fishing quota disputes with Canada. Another reason would be the fact that ships stopping over Saint Pierre and Miquelon are experiencing steady declines.

Regarding the longstanding dispute with Canada about their territory, they were awarded an economic zone of about 12,348sq km. It was an arbitration panel who awarded this last 1992.

Although this was a good deal for Saint Pierre and Miquelon, the land given was only about 2.5% of the actual demand of France. This is because France is currently subsidizing the island for the betterment of their actual living standards.

Their government still holds high hopes that by expanding their tourism industry, this will eventually bolster their economic prospects. Hence, they are also currently conducting drilling tests for oil. If these tests become successful, this will pave the development of their energy sector.

Turks and Caicos Islands

Turks and Caicos Islands is considered as an actual British Overseas Territory. It consists of about two tropical island groups along the West Indies side.

*Caicos Islands

Caicos Islands is stated as the larger group. Since it does not have an administrative unit, they do not have an official capital. They have, instead, an unofficial capital which is Kew Village. This is located on the northern side of Caicos.

They cover about 4 administrative districts of their territory. This is actually among 6 districts, with only 4 and 2 inhabited main and smaller islands accordingly.

From the West to the East, the main islands would be West Caicos, Providenciales, North Caicos, middle Caicos, East Caicos, South Caicos and Ambergris Cay. The smaller islands that are inhabited belong to the Caicos Cays between North Caicos and Providenciales. These would be Pine Cay and Parrot Cay.

*Turks Island

The Turks Island Passage separates the Caicos Islands from the Turks Islands. This passage stretches from north to south.

Among their group of islands, only 2 main islands are inhabited. These would be Grand Turk and Salt Cay.

Turks and Caicos Islands’ economy is mainly based on fishing, offshore financial-based services and tourism. Most of their capital goods used for local consumption, especially food, are imported. 

They receive about approximately 87,000 visitors annually. Last 2006, it was already estimated to approximately 200,000.  This is a skip for more economic growth. The two major sources of tourists that visit Turks and Caicos Islands would be from the US and Canada.

Their Government 

Their government is developing strategic ways to generate money from these tourists. For the wealthy visitors, upscale resorts are being implemented. For the masses who love the Grand Turk, newer and larger recreation centers and cruise liner ports are being established.

Customs receipts and fees for offshore financial-based activities are the government’s main sources of revenue. Last 2006, their labor force was estimated to about 12,000 workers. More than half of these labor force are amongst the unskilled or manual skill level. The one with the least distribution rate would be for their professionals, with only about 15% of the actual 12,000 workers.

The US dollar is the currency they use but for their government fines, they pay by British Pounds. An example of these fines would be airport infractions and the like.

Trading Market 

Although their only significant export is conch and fish, catching these continue to decline. They export this mostly to the UK and the US. Their tobacco, food, beverage, clothing, construction materials and manufactures are imported from the UK and the US also.

One problem the Turks and Caicos Islands needed to face was when it was used as a trans-shipment point. This is for the South American narcotics being destined to the US. This type of trade was greatly reduced because of the ongoing effort of a Bahamian, Turks and Caicos and an American.

Tourism 

Turks and Caicos Islands are popular for its yearly Cultural and Music Festival. This event not only showcases their local talents, it also features dynamic performances of music celebrities from the US and the Caribbean. This is because a lot of Hollywood stars who has fallen for the charm of the Turks and Caicos Islands have managed to build a home there. A good example would be Bruce Willis and Dick Clark. Even Jennifer Garner and Ben Affleck were married at Parrot Cay. Last July 2007, honeymooners Tony Parker and Eva Longoria were struck by the beauty of the Turks and Caicos Islands.

United States

The United States is considered as one of the most powerful nations in the world. Although they are divided into 50 states, they are very much united in proving how strong and powerful they can become.

Ever since the September 11 bombing, the United States started to experience setbacks with regards to their economy. The dollar is continuously depreciating in value. Amidst this depreciation, more people found this as an opportunity to go there. This is because they find the costs for their travel and necessary expenses more affordable.

The US, with its 50 states, has so many well loved tourist destinations. They boast of their beautiful coasts, landscapes, historical monuments, and even their distinct traditions and festivities.

Their Time Zones and Favorite Destinations in their Different States 

Every state in the US has its unique trait. In fact, they even have six different time zones – the Eastern, the Mountain, the Pacific, The Central, plus Alaska and Hawaii’s time zone. When you go make a call or go there, you need to verify, of course, the time zone or the time the state you are calling has.

For their Pacific side, Eastern side and Hawaiian Islands, it is more popular during summer because of their numerous beautiful beaches. It actually attracts millions or even billions of tourists every year. Although they also have popular destinations here for the winter months, it is the central and mountainside part that has majority of the skiing destinations.

For the Eastern side of the US, popular destinations would be the coasts of Maine, Massachusetts, Rhode Island, Connecticut, New Jersey, Maryland, Virginia, North Carolina, South Carolina, Georgia and Florida. Virginia, North Carolina and South Carolina are more popular during the summer months because of the beautiful Virginia Beach, Outer banks and Myrtle Beach.

Florida is actually a year round tourist destination because of its warm tropical climate. Florida itself is divided into different regions as it offers a variety of wonderful tourist attractions. The popular beaches in Florida would be:
 
• Cape Canaveral
• Cocoa beach
•  Ormond beach
• Daytona beach
• New Smyrna beach
• The Palm coast
• Delray beach
• Deerfield beach
• Boca Raton
• Hollywood beach
• Miami beach
• Fort Lauderdale
• Pompano beach
• Saint Augustine

Their popular islands would be:

• Amelia island
• Treasure island
• Macro island
• Naples
• Fort Myers
• Sanibel island
• Captiva island

Apart from this, Central Florida is home to Disney World’s biggest theme park, with EPCOT and Sea World inside this large theme park. Universal Studios is also found in Orlando Florida.

New Hampshire, Vermont, New York, Pennsylvania, Virginia, North and South Carolina are hiking and ski destinations also. The famous smoky mountains are situated between North and South Carolina. Hershey Land, home of Hershey’s chocolate is situated in Hershey, Pennsylvania.

For the Pacific side of the US, they boast of their beautiful beaches as well. Disney Land and Lego Land are situated in California. Luxurious casinos and silver mines thrive in Las Vegas, Nevada – known as the gaming capital of the world.

For the Central and Mountainside of the US, you will find a lot of beautiful landscapes, rivers, museums, parks and mountains. To name a few:

• Traverse City History Walk and Bellaire Historical Museum in Michigan
• Forest Lodge nature Trail and Wisconsin Dells in Wisconsin
• Bridges of Madison County and Spooks cave in Iowa
• Pelican Lake and the Grand rapids in Minnesota
• Glacier National Park and Glacier Canyon in Washington
• Deschutes River and Mount Bachelor Ski Area in Oregon
• Snowbird Ski and Summer Resort in Utah
• Port of Galveston, Mustang Ranch Riding Stable and National Bridge Caverns in Texas
• Elvis Presley Museum, Museum of Aviation and Wonderworks in Gatlinburg
• The Stone house Winery and Homestead Tower Museum in Tennessee
• Romeo and Juliet Tragedy Site, Black Forest Bear Park and Reptile Exhibit in Georgia

The United Stated is really rich in these resources. It is a beautiful destination. When looking for a property, you need to assess if you will be living there or you just want to invest on it. If you choose to live in the US, remember that every state is different. They have different laws and regulations you need to check. They also have different policies with regards to their residential establishments. There are also different systems with regards to having it mortgaged in the US. Apart from this, the lifestyle there would go with the state you choose to live in. New York would have a fast paced lifestyle. Southern states would have the slower paced lifestyle. It is best you assess which way of living is suitable for you and your family. 

Life after September 11 

With the September 11 bombing, terrorism threats in the US have become apparent. Although the government continuous to act on this issue, it is still unknown when another attack may happen or, with strong hopes, may eventually cease.

As mentioned, the economy of the US has been facing a sort of erosion. For the past few months, housing prices continue to decline.

There are reasons for this and it is considerably quite alarming. There is already an oversupply of homes in the US market. Sellers or agents are not doing anything about this yet. They plan to start selling these properties once the rates go up. As time passes, taxes, mortgage interests and insurances start going up as well. This chain of events led to the erosion in the US properties market.

Many believe that these setbacks are only temporary. The United States will soon have its feet up again. Contrary to speculations, the US is not considered a high risk area. It is still a reasonable investment.