Economy
The economy is strongly affected by geography. It is isolated from foreign markets, and has some inadequate infrastructure; it lacks major natural resources, has limited manufacturing and suffers moderately from natural disasters. Tourism provides the economic base which makes up approximately 67.5% of GDP. Additionally, the economy is supported by foreign aid, largely from New Zealand. The Peoples' Republic of China has also contributed foreign aid which has resulted in, among other projects, the Police Headquarters building. The Cook Islands is expanding its agriculture, mining and fishing sectors, with varying success.
Read more about this topic: Cook Islands
Famous quotes containing the word economy:
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“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)
“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)