Lucrecia: Difference between revisions

As a popular tourist spot, one of the largest sectors of the Lucrecian economy is in {{wp|tourism}}, as well as {{wp|service (economics)|services}}, and {{wp|retail}}.

==History==

===Antiquity and the first Emeritan state===

===Climate===

==Demographics==

The rising tourism industry has also brought many non-nationals into the country as permanent residents.

===Languages===

The Lucrecian economy is a capitalist, primarily service-based economy, based on extensive entrepôt trade, Lucrecia is an established global logistical and financial centre. It is known to be one of the world’s freest, easiest to do business in, most competitive and most innovative economy worldwide, characterized by low corporate taxation and minimal government intervention. Although it has consistently ranked high in economic freedoms, the nation also has a high level of income disparity.

According to the national census, after years of growth, median household income has reached an all-time high, although income inequality has as well. Wealth remains tightly concentrated; with just 10% of the population possessing over 80% of the nation’s household wealth. As maintained by the Central Bank, the top 1% of income earners continue to control 41.2% of the nation’s wealth, with the number growing as Lucrecia continues to develop as a tax haven.

With high amounts of investment into Lucrecian property, real estate values have risen sharply since 2000. Exacerbated by limits of land area and the limited number of public housing units available, the city-state today has a remarkably low rate of home ownership. Over 67% of the nation’s housing stock comprises private permanent housing, with only 10% and 23% being subsidized or public housing, respectively. As private housing is primarily purchased as an investment by higher income groups, housing for the average Lucrecian accounts for over 41% of household expenditure. This has led rise to the term sandwich class, referring to a middle-class income group which does not qualify for public assistance, yet is not able to afford private residences.

According to the office of the Auditor-General, this can be primarily traced back to the government’s lack of recent interference in the economy. During a wave of immigration in the 1960s and 70s, the nation constructed large amounts of public housing. By 1989, over half of the housing stock was public or subsidized. However, in recent years, there has been a lack of political will for the construction of new developments, which may be due to the increasing influence of foreign and local elites within Lucrecian politics.

==Notes==

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[[Category:Sarpedon]]

[[Category:IXWB]]

[[Category:Vallos]]