Economy
The official currency of Saint Martin is the euro, though the US dollar is also widely accepted. Tourism is the main economic activity.
INSEE estimated that the total GDP of Saint Martin amounted to 421 million euros in 1999 (US$449 million at 1999 exchanges rates; US$599 million at Oct. 2007 exchange rates). In that same year the GDP per capita of Saint Martin was 14,500 euros (US$15,500 at 1999 exchanges rates; US$20,600 at Oct. 2007 exchange rates), which was 39% lower than the average GDP per capita of metropolitan France in 1999. In comparison, the GDP per capita on the Dutch side of the island, Sint Maarten, was 14,430 euros in 2004.
Read more about this topic: Collectivity Of Saint Martin
Famous quotes containing the word economy:
“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)
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“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)