- published: 14 May 2013
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Since achieving independence in 1966, the island nation of Barbados has transformed itself from a low-income economy dependent upon sugar production, into an upper-middle-income economy based on tourism and the offshore sector. Barbados went into a deep recession in the 1990s after 3 years of steady decline brought on by fundamental macroeconomic imbalances. After a painful re adjustment process, the economy began to grow again in 1993. Growth rates have averaged between 3%–5% since then. The country's three main economic drivers are: tourism, the international business sector, and foreign direct-investment. These are supported in part by Barbados operating as a service-driven economy and an international business centre.
Coordinates: 13°10′N 59°33′W / 13.167°N 59.55°W / 13.167; -59.55
Barbados (i/bɑrˈbeɪdɒs/ or /bɑrˈbeɪdoʊs/) is a sovereign island country in the Lesser Antilles. It is 34 kilometres (21 mi) in length and up to 23 kilometres (14 mi) in width, covering an area of 431 square kilometres (166 sq mi). It is situated in the western area of the North Atlantic and 100 kilometres (62 mi) east of the Windward Islands and the Caribbean Sea; therein, it is about 168 kilometres (104 mi) east of the islands of Saint Vincent and the Grenadines, and 400 kilometres (250 mi) north-east of Trinidad and Tobago. Barbados is outside of the principal Atlantic hurricane belt.
Barbados was initially visited by the Spanish around the late 1400s to early 1500s and first appears on a Spanish map from 1511. The Spanish explorers may have plundered the island of whatever native peoples resided therein to become slaves. The Portuguese visited in 1536, but they too left it unclaimed, with their only remnants being an introduction of wild hogs for a good supply of meat whenever the island was visited. The first English ship, the Olive Blossom, arrived in Barbados in 1624. They took possession of it in the name of the British king James I. Two years later in 1627 the first permanent settlers arrived from England and it became an English and later British colony.