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International Business of Botswana Country - Essay Example
Pages 8 (2008 words)
After its independence in 1966 Botswana, in a few decades, has moved to a developing nation from a poor and underdeveloped economy. Its major export of diamonds is the basis of economic growth of the country. Moreover, the place is also an important source of income through tourism and foreign investment…
When Botswana appeared on the face of the map, there was no army for the defence and protection of the country. In 1977 Botswana Defence Force was formed and today almost 12000 armed men are an integral part of the system (Botswana, 2007).
The government of Botswana has perfectly maintain the outflow of diamonds for the economic well being of the country and from last three decades Botswana is a leader in the production of quality diamonds. Thus, the revenue generated from diamond mining is very rightly used to carry out the essential expenditures of the country (Background Note: Botswana, 2007).
The other chief sources of income in Botswana include tourism and cattle industry. Before 1971 the market was based on agriculture and farming, but then diamond mining started that heightened the economic growth and also increased the per capita income of the country as compared to many other African countries (The World Fact Book, 2007).
Whenever we consider the economic structure of a place, we cannot deny the fact that there are some threatening issues related to that area which have an immense effect on the expansion and progression of the nation. ...