Saint Lucia Workforce Development : SABER Country Report 2013
Saint Lucia is a Small Island Developing State, whose economy suffered a significant setback after the devastation of its once solid banana industry in the early 2000s. The Island’s economy has also experienced anemic growth since the global finan...
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| Format: | Report |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2015/10/25165615/saint-lucia-saber-workforce-development-country-report-2013 http://hdl.handle.net/10986/23009 |
| Summary: | Saint Lucia is a Small Island Developing
State, whose economy suffered a significant setback after
the devastation of its once solid banana industry in the
early 2000s. The Island’s economy has also experienced
anemic growth since the global financial crisis in 2008. The
country is now highly dependent on tourism, the main source
of employment and income, which makes up 39 percent of GDP
approximately. As internal Consumption of commodities and
industrial inputs also relies heavily on imports, Saint
Lucia is vulnerable to external economic, political and
climatic conditions. Over the last decade, the country has
witnessed increased unemployment, especially within the
youth bracket. In an economy with such limited
diversification, unemployment has become structural.
Understanding the threat that unemployment poses to the
stability of the Island, the government has noted the
urgency of developing strategies for providing relevant
training and educational opportunities necessary to create a
strong workforce. |
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