Tuesday, February 6, 2007

Holidays-- pleasure for the rich countries only

Botswana is one Africa’s fastest growing, most dynamic economies. Much of its economic growth has been fueled by mineral extraction, principally diamond mining: one of its major export commodities, it accounts for 70-80% of its exports and thus for roughly one third of its GDP. Diamond revenues together with smart macroeconomic management have enabled Botswana to enjoy a high level of social services such as health, education, water supply.
But this distorted development remains a curse: Botswana, though its growth has been fantastic, has become highly dependent on its diamond exports. Failing to establish a diversified economy, it continues to suffer from high unemployment and low growth in other sectors. Thus the actual portrait of the Botswana economy is much less rosy then the growth rate suggests.
Leisure thus remains far away for the Botsawanian people: the government noted that its numerous holidays and subsidies have made Botswana less competitive in the region and the global market. Its low productivity and competitiveness thus slows investment in the economy and growth of other sectors. Paid holidays remain a pleasure for the rich in the struggle for global competitiveness.