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Economy of Goa

GoaThe economy of Goa is definitely an interesting aspect of consideration. In a recent survey it has come out that the gross state domestic product of Goa in the year 2007 was estimated at a whopping $3 billion.

The very figure is sufficient enough to give out a glimpse of the economic strength of this place. At the same time there is another very crucial aspect that needs a thoughtful consideration. Goa happens to have a highly strong GDP per capita in the entire country. The growth rates are close to 8.23%. The statistics is really impressive.

It is believed that most of the revenues of Goa come from the tourism industry. There are mainly two seasons in which the revenue earning seems to be at its peak point. The seasons are winter as well as summer. Winter is supposed to be a highly favorite season for tourists as they get to spend their time in a relaxing way. It has been observed that mainly European tourists love this time as the climate of Goa is in its best in winter. The number of foreign visitors touches the culmination during winter. Whereas in summer people from across India choose to pay a visit to Goa to enjoy a relaxing holiday over here.

At the same time the economy of this place is largely dependent on the coastal areas which are richly replete with mineral resources. Goa is known to be a treasure house when it comes to mining, minerals as well as ores. The most noticeable as well as profit making minerals in Goa are Bauxite, Ore, Manganese as well as Limestone. These minerals do rope in a huge trait of economic profit. When it comes to the issue of mineral wealth it is the port of Marmagao that happens to be a treasure trove.

The fishing industry too happens to be a significant as well as powerful segment of the economy of Goa as this particular field does give a good return in shape of monetary gains. There are around forty thousand people in Goa who earn their livelihood being a part of this fishing industry. The fishing industry of Goa is making progress in leaps and bounds. The large trawling systems do have a significant role in perking up the sales figures of the fishing industry.

At the same time Goa earns a significant amount of profit margin out of the sales figures procured from cashew, coconut as well as areca. Among all the significant agricultural crops rice happens to be a top grosser. At the same time Goa earns a significant amount from the manufacturing industry. The top draws are fertilizers, brewery products, fertilizers, steel rolling, tiers as well as pesticides.