2.1 Development and expansion of technology The introduction of telegraph in 1837, the telephone in 1876, the wireless in 1895, the aero plane in 1903, the television in 1926, the liquid fuelled rocket in 1927, the coaxial cable in 1930’s and digital computer in 1946 were all the key events that triggered the growth of international business. [29][30] Due to Botswana's heavy reliance on diamonds, strong global demand is vital to the health of the economy. [39] Debswana operates the nearby Morupule Colliery to supply coal to it. Botswana joined the International Board for Reconstruction and Development and the International Development Association in 1968, the International Finance Corporation (IFC) in 1979 and the Multilateral Investment Guarantee Agency (MIGA) in 1990. What has become the single richest diamond mine in the world opened in Jwaneng in 1982. This factor is a bonus and the most important contributing factor to employee engagement is the managers they are working form or under. CURRENT MARKET TRENDS There are many trends responsible for the growth and development of the hospitality and tourism industry in Botswana these include; safety and security- Goyal 2010 states that the threat of terrorist attacks it is a problem affecting the hospitality industry, these gives hotel administration more responsibility to protect their visitors on the other hand promoting … Only about 0.7% of total land area is arable. Nonschool factors do influence student achievement, but effective teaching has the potential to help level the playing field. Productivity is the most important determinant of the growth in living standards over the long run and its growth has been weak since 2004 and dismal since 2010. [20] It is rated as the least corrupt country in Africa in the Corruption Perceptions Index by international corruption watchdog Transparency International. Political stability / Law and order. Smaller quantities of cowpeas, beans, and other pulses are also grown. Due to its history and geography, Botswana has long had deep ties to the economy of South Africa. A successor to the Southern African Development Coordination Conference (SADCC), which focused its efforts on freeing regional economic development from dependence on apartheid in South Africa, SADC embraced the newly democratic South Africa as a member in 1994 and has a broad mandate to encourage growth, development, and economic integration in Southern Africa. One of the world’s poorest countries at independence in 1966, it rapidly became one of the world’s development success stories. Heredity is the transmission of physical characteristics from parents to children through their genes. As of 2005, about 54% of Botswana's population had access to formal or informal financial services, and 43% is banked (with access to at least one formal banking product). This ranks Botswana as by far the best credit risk in Africa and puts it on par with or above many countries in central Europe, East Asia, and Latin America. The Doing Business report provides objective measures of business regulations and their enforcement. [33], Since the early 1980s, the country has been one of the world's largest producers of gem diamonds. More recently, however, the limitations of Botswana’s diamond-led development model have become more apparent: growth is slower, inequality remains high and job creation is limited. Data and research on green growth and sustainable development including consumption, innovation, green cities, green energy, green jobs and green transport., Governments around the world are encouraging people to factor the environment into their everyday lives and purchases. When people had money, but scarcity of products, the price of the products went sky high, as the value of money had gone down. The wildlife, including lions, brown hyenas, cheetahs, leopards, wild dogs and antelope, was described in great detail in the best-selling book Cry of the Kalahari by Mark and Delia Owens. Scientists expect rapid growth in emerging economies and more moderate growth in developed economies. Customer loyalty is something that’s the sum of a lot of important parts: customer experience, product selection, pricing, brand, and marketing. Inequality has fallen as well, albeit still being high. The most important driver for economic growth appears to be. According to the U.S. Department of Commerce, "there are very few tariff or non-tariff barriers to trade with Botswana, apart from restrictions on licensing for some business operations, which are reserved for [Botswana] companies." [38], Most (70%) of Botswana's electricity is imported from South Africa's Eskom. Chinese politicians are said to feel a greater responsibility to the nation than to themselves. Addressing these challenges will require improving the quality of infrastructure (water and electricity), essential basic services (education, health, and social safety nets), as well as accelerating reforms to the business environment and effective support for entrepreneurship. Most central banks recognize this. The first culprit has been the lack of investment. The main safari destinations for tourism are Moremi Game Reserve in the Okavango Delta, and Chobe National Park. Under this arrangement, South Africa has collected levies from customs, sales, and excise duties for all five members, sharing out proceeds based on each country's portion of imports. Botswana has historically enjoyed strong and stable growth since independence, with sizable fiscal buffers and prudent policies playing a key role in shielding the economy. Significant mineral (diamond) wealth, good governance, prudent economic management and a relatively small population of slightly more than two million, have made it an upper middle-income country with a transformation agenda of becoming a high-income country by 2036. If you are stuck in a dead-end job that you cannot leave because you have no money set aside, you have put a brake on your potential. The economy is expected to contract by at least 9.1% in 2020 as COVID-19’s impact on global demand, travel restrictions and social distancing measures constrain output in key production and export sectors, including the diamond industry and tourism. Social factors involve customs, traditions, values and beliefs, which contribute to the growth of an economy to a considerable extent. For example, after World War I, the German government printed a vast amount of money, which gave rise to major inflation in the economy of Germany. 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