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re: Swiss Investor Marc Faber: America would be like Zimbabwe if blacks were the majority
Posted on 10/18/17 at 11:59 pm to volod
Posted on 10/18/17 at 11:59 pm to volod
Even then, the GDP is largely driven by tourism in most of those places. It's not like the automobile or the computer was invented there. Do these countries thrive off of their ingenuity and hard work leading to them to more productive than other countries. If their money comes from people from developed nations dumping vacation money at the Four Seasons that was built with investment capital from developed countries, a high PPP can hardly be attributed to some intrinsic characteristic of the service industry folks working at the Four Seasons.
Posted on 10/19/17 at 12:49 am to dunkelman
quote:
. If their money comes from people from developed nations dumping vacation money at the Four Seasons that was built with investment capital from developed countries, a high PPP can hardly be attributed to some intrinsic characteristic of the service industry folks working at the Four Seasons.
Well. Think of it this way.
Tourism is still an industry. It relies on human capital (visitors) and supplies a means of employment for citizens.
Granted its not the modus operandi of most western countries.
However, its pretty impressive that a small country can convince and entertain so much $ from a larger more developed nation. :)
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