History of The Caribbean - Economic Change in The 20th Century

Economic Change in The 20th Century

The mainstay of the Caribbean economy, sugar, has declined gradually since the beginning of the 20th century, although it is still a major crop in the region. Caribbean sugar production became relatively expensive in comparison to other parts of the world that developed their own sugar cultivation industries, making it difficult for Caribbean sugar products to compete. Caribbean economic diversification into new activities became essential to the islands.