a potential source of
income from harvesting finfish and krill. The islands receive income
from postage stamps produced in the UK, sale of fishing licenses,
and harbor and landing fees from tourist vessels. Tourism from
specialized cruise ships is increasing rapidly. Annual tourist
volume hovers around 3,000 arrivals.

Southern Ocean
Fisheries in 2000-01 (1 July to 30 June) landed
112,934 metric tons, of which 87% was krill and 11% Patagonian
toothfish. International agreements were adopted in late 1999 to
reduce illegal, unreported, and unregulated fishing, which in the
2000-01 season landed, by one estimate, 8,376 metric tons of
Patagonian and antarctic toothfish. In the 2000-01 antarctic summer
12,248 tourists, most of them seaborne, visited the Southern Ocean
and Antarctica, compared to 14,762 the previous year.

Spain
Spain's mixed capitalist economy supports a GDP that on a per
capita basis is 80% that of the four leading West European
economies. The center-right government of former President AZNAR
successfully worked to gain admission to the first group of
countries launching the European single currency (the euro) on 1
January 1999. The AZNAR administration continued to advocate
liberalization, privatization, and deregulation of the economy and
introduced some tax reforms to that end. Unemployment fell steadily
under the AZNAR administration but remains high at 11.7%. Growth of
2.4% in 2003 was satisfactory given the background of a faltering
European economy. Incoming President RODRIGUEZ ZAPATERO, whose party
won the election three days after the Madrid train bombings in
March, plans to reduce government intervention in business, combat
tax fraud, and support innovation, research and development, but
also intends to reintroduce labor market regulations that had been
scrapped by the AZNAR government. Adjusting to the monetary and
other economic policies of an integrated Europe - and reducing
unemployment - will pose challenges to Spain over the next few years.

Spratly Islands
Economic activity is limited to commercial fishing.
The proximity to nearby oil- and gas-producing sedimentary basins
suggests the potential for oil and gas deposits, but the region is
largely unexplored; there are no reliable estimates of potential
reserves; commercial exploitation has yet to be developed.

Sri Lanka
In 1977, Colombo abandoned statist econ