The main business of Nicaragua continues to be the export of renewable product. The world is always ready to buy items such as coffee, bananas, sugarcane, shrimp, and lobster. However, the country isnÂt just dependent on the export of these goods. Industry is springing up around Nicaragua, helping to employ hundreds of thousands around the country. With the 2006 approval of the Central American Free Trade Agreement, the products of these industries are now found throughout North and South America.
Diversification is the Key
With a growing tourist section, money is coming in from many different sources. Along with the exporting of goods and local industries, tourism helps to employ many citizens of the country. Resorts such as Gran Pacifica have helped show the world what the country has to offer. Employees of these resorts, in turn, take their wage and spend it on goods and services. This growth cycle has continued from 2011 into 2012, with the economy growing from four to five percent each year. Since no one single industry is pushing the economy, the business in Nicaragua continues to grow.
A Growing Workforce
With over sixty percent of the population under the age of thirty-nine, Nicaragua has a young and vibrant workforce. This helps attract businesses to the country, with the idea that workers will stay with a job for a long time. Foreign businesses are also interested in an educated workforce, with people who understand the complexities involved in the many industries around the world. The population of the country is becoming more educated with much of the younger population understanding education can help make a better life.
Nicaragua is situated in the most central part of Central America. This is a prime location for trade and travel between North and South America. Any goods transported by land have to go through the country, with good and services put in place to handle this transpiration. With access to both the Atlantic and the Pacific oceans, the fishing industry will continue to thrive for years to come. The location of the country is a unique resource that the government is just starting to take advantage. It helps to be a passageway between two continents, letting trade good travel along newly created roadways. The economic situation of the country has never been better and has a bright future.
A New Beginning
It is a new age for Nicaragua. The country has investors streaming in from all over the world. The business sector is growing and tourism is on the rise. The population is young and educated, leading to a rise in salary and jobs. The location of the country is helping to create an atmosphere that is friendly to business. This, in turn, helps the population grow and become more affluent and stable.