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
Famous quotes containing the words economy of, economy, saint and/or helena:
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.”
—Ralph Waldo Emerson (1803–1882)
“Upon Saint Crispin’s day
Fought was this noble fray,
Which fame did not delay
To England to carry.
On when shall Englishmen
With such acts fill a pen,
Or England breed again
Such a King Harry?”
—Michael Drayton (1563–1631)
“Her name was called Lady Helena Herring and her age was 25 and she mated well with the earl.”
—Daisy Ashford (1881–1972)