Economy
Farming, fishing and burning seaweed to kelp ash (used in the manufacture of soap and glass) were the main economic activities on the island until the 19th century. Tobermory was built by the British Fisheries Society in 1788 as a planned settlement to support the fishing industry. In the mid 19th century the Highland Potato Famine and the Highland Clearances reduced the population by two thirds and the island economy collapsed. In the early 20th century there were more sheep than people.
The economy began to revive when the construction of Craignure Pier in 1964 started to bring tourists. Tourism is now the mainstay of the island's economy. Ecotourism became popular from the 1990s and the re-introduction of White-tailed eagles in 2005 became a particular ecotourist drawcard.
There is a small amount of farming, aquaculture and fishing and Forestry Commission Scotland has several plantations on the island. Tobermory also has one whisky distillery and one brewery.
Read more about this topic: Isle Of Mull
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)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)