Political Environment

Barbados' political system is a Westminster model parliamentary democracy.  The island has the third oldest parliament in the British Commonwealth.

As a British Commonwealth member it's official head of state is the Governor General who is appointed by the British monarch on the recommendation of the Prime Minister.
These are three active political parties on the island, two of which are represented in the Parliament.

The House of Assembly or Lower House comprising 27 members is elected every five years.  The majority party nominates the Prime Minister, who then forms a cabinet.  The House of Assembly approves all legislation.  The Upper House, the Senate, comprises 21 members appointed by the Governor General on the advice of the Prime Minister and the Leader of the majority opposition party. 
 
Economy

Barbados has a largely free enterprise, small, open economy, which, until the 1970's, was based primarily on sugar cane production up.  It now has four key productive sectors - tourism, agriculture, manufacturing, and international business services.  There is also a well-established wholesale and retail sector contributing some 18.0% of domestic output.
The development of the international business services sector, which began around 1977, is now the second most significant contributor of foreign exchange after tourism.