Trinidad and Tobago is a good country to do Internation Business with - Term Paper Example

Considering that it is currently on an economic high, Trinidad and Tobago is a good country to do international business with. Trinidad and Tobago has the highest per capita income in terms of direct foreign investments in the region. There are more than 150 firms that have already established businesses in the country. These companies include Coca Cola, Johnson & Johnson, Citicorp, Fujitsu and PricewaterhouseCoopers (International Monetary Fund 4). Currently, the country is enjoying its highest foreign investments opportunities in history.

Fueling the high levels of foreign direct investment is the country’s expansion of its energy sector. Trinidad and Tobago also offers a warm, diverse and stable business climate, which is contrary to the unpredictability witnessed in other Caribbean countries. The country also boasts a diverse cultural setting that makes it easy for locals and foreign investors to set up and carry out business activities (Rojas-Suarez and Elias 17). The business environment in Trinidad and Tobago makes it an ideal country to do international business with.

The country’s socio-economic, cultural and political structure sets it apart from its neighbors in the Caribbean since it offers excellent investment opportunities for both big and small international businesses. . The country is also considered to be the most industrialized in the Caribbean and Latin America region (International Monetary Fund 7). Trinidad and Tobago has not always been an investor’s choice of business destination. The twin islands of Trinidad and Tobago were Spanish colonies before they fell into British authority during the early 19th century.

At the time, much of the country’s economy was pegged on its sugarcane industry which came to near collapse following the emancipation of slaves in 1834. However, the importation of plantation workers soon revived the sugar industry and enhanced the coca industry. A further boost to the country’s economy was realized with the discovery of oil reserves in 1910. Trinidad and Tobago gained its independence from the British in 1962 and has been expanding its economic opportunities ever since (Rojas-Suarez and Elias 176).

There are two major ethnic groups in Trinidad and Tobago: Indian and African. The Indians make up 40% of the total population while Africans are about 37% of the population. People of mixed ethnicity make up about 21 percent of the population. According to July 2011 estimates, the country has a population of about 1,227,500 people. A majority of the country’s citizens lie in the 15-64 years age bracket. This means that the labor market is quit big in the country. 14% of the total population can be found in the urban areas, with many being in the country’s capital, Port of Spain (CIA World Factbook).

This is because the majority of the country’s industries and businesses are based in the urban areas. Many of the people of Trinidad and Tobago are either Christian or Hindu. However there is a sizable number (less than 20 percent) who profess the Muslim