The economy of Madagascar -Week 12- Melisa Simoens

Hi there!

We had a wonderful time and saw a lot of beautiful countries where all of us have made nice memories. But all beautiful songs come to an end and so does our journey around the world. We have arrived in the last country of our journey, we are in Madagascar. But before we have to go home, we have still some days left to discover Madagascar so we better take advantage of them.

In my last blog I would like to learn you a bit more about the economy of Madagascar. If you want to learn more about the politics or the culture of Madagascar, you must read the blog of Julie and Roselinde. Madagascar is an archipelago of islands. More than 20 million people live here but Madagascar isn’t a rich country. Two thirds of the population lives below the international poverty line. That’s why we saw a lot of poverty while walking around. Since 2004, the IMF and the world bank enrolled  the country in a special program to set the country on his feet again. So poverty will stay the next few years the biggest challenge to Madagascar’s economy.

                                                                                                                      

Agriculture is very important for the economics of Madagascar, it’s the main source of income. When we went further than the city, we saw everywhere around us fields where local people cultivate coffee beans, rice, cotton, vanilla, sugar,… These are also the products Madagascar exports the most. Other economic activities are forestry and animal rearing. But animal rearing has rather a status symbol. The more animals you have, the more people think you are important. Despite this status symbol, animal rearing has hardly an economic value.  The last years the country also started developing his oil and gas sector, in the hope that it will help improve the poor economic situation.

Tourism is important too for the country. Madagascar tries to attract every year more and more tourists. Fortunately they can count on the help of some French chains of hotels who invest in luxury residences.

I enjoyed visiting Madagascar. Our last days were marvellous, just like all the others. It was fun to make this journey with the other five girls. We all had a wonderful time. But now it’s time to go home, where family and friends are itching to hear our spectacular stories!

Thank you for reading my blogs!

Xx Melisa

Sources: http://www.landenweb.net/madagaskar/economie/
              http://www.economywatch.com/world_economy/madagascar/