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St
Barthelemy
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Discovered in 1493 by Christopher COLUMBUS who named it
for his brother Bartolomeo, St. Barthelemy was first settled
by the French in 1648. In 1784, the French sold the island
to Sweden, who renamed the largest town Gustavia, after
the Swedish King GUSTAV III, and made it a free port;
the island prospered as a trade and supply center during
the colonial wars of the 18th century. France repurchased
the island in 1878 and placed it under the administration
of Guadeloupe. St. Barthelemy retained its free port status
along with various Swedish appellations such as Swedish
street and town names, and the three-crown symbol on the
coat of arms. In 2003, the populace of the island voted
to secede from Guadeloupe and in 2007, the island became
a French overseas collectivity.
The economy of Saint Barthelemy is based upon high-end
tourism and duty-free luxury commerce, serving visitors
primarily from North America. The luxury hotels and villas
host 70,000 visitors each year with another 130,000 arriving
by boat. The relative isolation and high cost of living
inhibits mass tourism. The construction and public sectors
also enjoy significant investment in support of tourism.
With limited fresh water resources, all food must be imported,
as must all energy resources and most manufactured goods.
Employment is strong and attracts labor from Brazil and
Portugal.
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