I’m from a country considered third-world and a common vacation spot for foreigners. One of our islands have a lot of foreigners even living there long-term. I see a lot of posts online complaining on behalf of the locals living there and saying this is such a bad thing.
Currently, I fail to see how this is bad but I’m scared to asks on other social media platforms and be seen as having colonial mentality or something.
In: Economics
This depends a lot on the nature of the region.
In the US, gentrification almost always involves wealthy whites (maybe also including asians depending on the city) moving into black/latino communities and displacing the people that lived there, destroying the community. Typically this involves high-income professionals buying out existing landlords – so it’s usually a wealth transfer within the white community to the detriment of a marginalized community, who then have to incur the cost of moving, increased travel to their jobs, etc. so they often get poorer in the process. It’s an example of systemic poverty because those marginalized communities never get the opportunity to generate wealth because the land owners weren’t interested in selling to them, but when this other group come in, usually backed by generational wealth from their parents/grandparents, they can take that opportunity.
Latest Answers