Economy
Modern commercial activities centre on tourism, crofting, fishing, and weaving including the manufacture of Harris tweed. Some of the larger islands have development trusts that support the local economy and, in striking contrast to the 19th and 20th century domination by absentee landlords, more than two thirds of the Western Isles population now lives on community-owned estates. However the economic position of the islands remains relatively precarious. The Western Isles, including Stornoway, are defined by Highlands and Islands Enterprise as an economically "Fragile Area" and they have an estimated trade deficit of some £163.4 million. Overall, the area is relatively reliant on primary industries and the public sector, and fishing and fish farming in particular are vulnerable to environmental impacts, changing market pressures and European legislation.
There is some optimism about the possibility of future developments in for example, renewable energy generation, tourism, and education, and after declines in the 20th century the population has stabilised since 2003, although it is ageing.
Read more about this topic: Outer Hebrides
Famous quotes containing the word economy:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)