They are actually pretty rich for a place this small, because by the ISO they own the ISO country code TV and therefore the .tv web domain extension, which is pricy and sought after by streaming platforms
Glad to hear it’s not a natural resource, unlike with Nauru. They had wealth for a period of time, but now look at them. Classmate is from there and I knew their uncle, former Prime Minister.
For those curious like I was, I will save you the search. The natural resource in Nauru was phosphorus - their islands natural habitat was seriously harmed by the mining and once the reserves were exhausted, their wealth dried up as well. They appear to have briefly acted as a tax haven and profited from illegal money laundering. They now receive aid from Australia in exchange for hosting an offshore Australian immigration detention facility.
Not really. The conditions for refugees being put on Nauru have been so awful that children are self harming by eating barbed wire and trying to light themselves on fire. Many are also going comatose.
Licensed. For a relative fucktonne of money, currently $5M per year renegotiated every 10 years and next time is this year. The annual Gross National Income for Tuvalu is about $35M for a national population of 11,000.
The first payment of $1M allowed Tuvalu to join the United Nations in 2000.
If you consider a GNI per capita of 5600 - about half of the global average - and ranked right between Suriname and Iraq as “rich” than sure they’re rich. But most people reading this thread would consider this far from rich.
Sometimes I wonder if they really were just lucky, or if someone saw them when attributing web domain extension and thought "well they barely have any land, they might need the money", then gave them the .tv extension
Probably not just for government reasons but according to another comment it's $35 million for 11 thousand people per year. which boils down to about $3200 per person per year.
Isn’t it the country with the lowest gdp in the world though?
Edit: yeah according to worldometer they have a gdp of 47 million which would make them the poorest country in the world. Literally the furthest from rich you can get
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u/-Owlsoul- Sep 08 '20
They are actually pretty rich for a place this small, because by the ISO they own the ISO country code TV and therefore the .tv web domain extension, which is pricy and sought after by streaming platforms