Question

Analyse the growth pattern in the state that you live in. What are the development parameters that have shown positive impact in the last 5 years? Also what are the challenges that impede development?

Answer 1

I have been living in Florida for the past few years and the growth pattern here has been very strong. The per capita state growth rate of Florida has consistently outpaced the national GDP growth rate in the US and this has resulted in improving standards of living for the people. There are several parameters that are showing improvement. The mean years of schooling are increasing, suggesting that people can now afford to attain additional education. Working conditions for employees has been a major focus of discussion recently which has seen significant improvements in the hours worked and real wages. Since tourism is a major economic segment for Florida, most of these improvements are in the tourism and hospitality sectors. Some surveys of gross happiness indicators seem to be showing better results for people's happiness. Although the situation is optimistic for the future, there are a few challenges. The most important one is tackling racism. Since Florida is a home for a large African-American population, there have been several reported incidents involving racial discrimination or harassment. This does not augur well for future development. Another major issue is the crime rate, which is one of the highest in the country. This may hinder future business investment as no one wants to set foot in a crime-infested region due to higher uncertainity involved.