The economy of Saint Helena depends largely on financial assistance from the UK, which amounted to about $5 million in 1998. Saint Helena's local population earns income from fishing, the raising of livestock, and sales of handicrafts. Because there are few jobs, a large proportion of the work force has left to seek employment overseas.
The British government announced an intention in early 2005 to fund building of an international airport on the island by 2010. In 2009 the government postponed the plans while the UK was in recession but in November 2011 eventually decided to build the Saint Helena Airport from 2012 through 2015. With a total investment of £236.6m (costs for construction and ten years of operation) the airport will be the largest single investment ever made in the island.
Saint Helena's gross domestic product (GDP) by purchasing power parity for the 1994/5 financial year was US$13.9 million, and this figure, per capita, was $2,000. The financial year in Saint Helena runs from 1 April to 31 March. St. Helena's budget had revenues of $11.2 million, with expenditures of $11 million in the financial year ending 1993.
A campaign is currently underway (reported on BBC Radio 4, Today programme, 10 July 2004) to encourage emigration from the UK to Saint Helena to aid development of the economy.
Read more about Economy Of Saint Helena: Industry, Exports, Imports, Economic Aid, Currency
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