Falkland Islands

The Falkland Islands are classified as an archipelago in the southern portion of Atlantic Ocean off the coast of Argentina. These Islands consist of two main Islands East Falkland and West Falkland. The islands are self governing Overseas Territory of the United Kingdom. The islands were invaded by Argentine forces in 1982; however Argentina suffered a loss at the hands of British. According to 1983 Act, inhabitants of the islands are British citizens and are also eligible for Argentine citizenship. The history of the islands is little murky as French, British, Spanish and Argentine - all claim to have discovered the location first.

The economic structure of Falkand Islands consists of sheep farming, fishing and tourism as the main venues of earning bread and butter. Further, the sale of fishing licenses to foreign nations has earned more than $40 million in a year. Tourism has also been accounted for means of revenue generation comprising of penguins, seabirds and other diversities of flora and fauna. Thus, the recent face of economy has now transformed towards the diversified form of ancient sheep-farming. However, the bulk of economic activities are carried on by fishing in the present day economy. The islands continue to harness various off-shore oil reserves and fishing as means of generating financial framework.

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