Falkland Islands economy · Economy in Falkland Islands
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Economy in Falkland Islands
Economy in Falkland Islands
The economy of the Falklands was formerly based on agriculture (mainly sheep farming) but today fishing contributes the bulk of economic activity. Income from licensing foreign trawlers totals more than $40 million per year with squid accounting for 75% of the fish taken. Agricultural activities mainly support domestic consumption with the exception of high grade wool which is exported. Surveys have revealed oil deposits within a 200 mile oil exploration zone around the islands and exploratory drilling is underway. The British military presence provides a sizeable economic boost.
Tourism is being actively encouraged and increasing rapidly with about 66,000 visitors in 2009; a significant part of the increase is from visiting cruise liners. The majority of visitors are from the UK but efforts are being made to encourage wildlife and adventure tourism. The main season is November to March but angling for sea trout is most favourable outside of this period.
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Falkland Islands Travel Guide from Wikitravel. Many thanks to all Wikitravel contributors. Text is available under Creative Commons Attribution-ShareAlike 3.0, images are available under various licenses, see each image for details.