Economy
All economic activity is concentrated on Diego Garcia, where joint Anglo-American defence facilities are located. Approximately 2,000 native inhabitants, known as the Chagossians or Ilois, were forcibly relocated to Mauritius before construction of these facilities; in 1995, there were approximately 1,700 UK and US military personnel and 1,500 civilian contractors living on the island.
Construction projects and various services needed to support the military installations are carried out by military and contract employees from Britain, Mauritius, the Philippines, and the US. There are no industrial or agricultural activities on the islands. The licensing of commercial fishing provides an annual income of about $1 million for the territory.
Separate telephone facilities for military and public needs are available, providing all standard commercial telephone services, including connection to the Internet. International telephone service is carried by communications satellite. The territory has three radio broadcast stations, one AM and two FM, and one television broadcast station. Because of its equatorial location, Diego Garcia can use geosynchronous satellites over the Indian Ocean and also some over the eastern Atlantic Ocean. Amateur radio operations occur from Diego Garcia, using the British callsign prefix VQ9.
Postage stamps have been issued for British Indian Ocean Territory since 17 January 1968. Since the territory was originally part of the Seychelles, these stamps were denominated in rupees until 1992. However, after 1992 they became denominated in pounds sterling which is the official currency of the territory.
Read more about this topic: British Indian Ocean Territory
Famous quotes containing the word economy:
“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)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“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)