British Indian Ocean Territory Economic information

The British Indian Ocean Territory (BIOT) is an overseas territory of the United Kingdom. Also known as the Chagos Islands, this region is located in the Indian Ocean. BIOT's economy is quite limited and is based primarily on revenues from personnel working at the British military base Diego Garcia. The indigenous Chagos people living in the region were displaced when the British government expelled them from the islands in the 1960s. There are no developed sectors such as agriculture or industry in the region. However, there is potential for seafood hunting (fishing) and tourism. One of BIOT's economic resources is the rental income from the Diego Garcia base agreement with the United States. BIOT's currency is British pound sterling (GBP). The official language of the region is English.

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British Indian Ocean Territory Economic information

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