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Jamaica said to have one of the worst economies in the world
Influential business magazine, Forbes, has ranked Jamaica as one of the worst economies in the world.
Forbes says Jamaica has the 5th worst economy in 2011...a position which the magazine says is due to Jamaica being a victim of the global financial crisis.
Forbes said it based the ranking on the devastating impact the crisis had on Jamaica's vital tourism industry.
It's a claim which flies in the face of official statistics which indicate that even though, tourism bookings were tempered, growth in that industry was realised through the throes of the recession.
Now the country is out of that recession.
A 1 point 4 percent growth between January and March confirmed that much, .and that growth was led by the tourism industry. Another questionable assertion Forbes made is that poverty in the country has been halved to 10 percent.
Official data however show the true figure is closer to twice that level.
But incorrect assertions or dated information doesn't matter, the rankings are sold to people who may not know.
And what Forbes has told them, is that Jamaica is the world's fifth worst economy, behind only Madagascar, Armenia, Guinea and the Ukraine.
Influential business magazine, Forbes, has ranked Jamaica as one of the worst economies in the world.
Forbes says Jamaica has the 5th worst economy in 2011...a position which the magazine says is due to Jamaica being a victim of the global financial crisis.
Forbes said it based the ranking on the devastating impact the crisis had on Jamaica's vital tourism industry.
It's a claim which flies in the face of official statistics which indicate that even though, tourism bookings were tempered, growth in that industry was realised through the throes of the recession.
Now the country is out of that recession.
A 1 point 4 percent growth between January and March confirmed that much, .and that growth was led by the tourism industry. Another questionable assertion Forbes made is that poverty in the country has been halved to 10 percent.
Official data however show the true figure is closer to twice that level.
But incorrect assertions or dated information doesn't matter, the rankings are sold to people who may not know.
And what Forbes has told them, is that Jamaica is the world's fifth worst economy, behind only Madagascar, Armenia, Guinea and the Ukraine.
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