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Are Today’s American Indians Surviving The Economic Turmoil?

Monday, June 22nd, 2009

For several hundred years, native American Indians were relegated to a state of despair, poverty and unemployment. With changing times, native American Indians have evolved into a class of hardworking people who are finding new ways of survival. America, the land of opportunities has opened new avenues of growth, prosperity and employment generation for American Indians. However, in wake of the ongoing economic slowdown Native Americans are finding it increasingly difficult to sustain themselves.

The thriving American Casino Industry has played a dominant role in reviving the hopes of impoverished American Indians. Given that gambling and casinos are barred in most American states, a large number of Americans flocked to Native American states where gambling is not prohibited. As a result, the American Casino Industry became an important source of revenue generation for most American Indians. Notably, apart from providing job opportunities to the local population the American Casino Industry also gave a major boost to American Indian business scenario. A large number of American Indians have been depending upon the casino business to boost sales of custom gift baskets that have become immensely popular in the past few years.

Hence within a short span of time, gaming joints and casinos on Native American India reservations have become successful business models. These tribal casinos located mostly in the eastern parts and in the central region have earned high revenue and many of these casinos have become globally famous. Some of the well known casinos located in these parts are the Foxwoods Casino and Mohegan Sun.

With the US plunging under deep economic crisis, the fate of American Indian business has become uncertain. People have curbed their spending and the increasing cash crunch is adversely affecting the American Casino Industry. Of all the Native American tribes depending on their casino business, the ones settled in the Great Plains and in the Midwest have been the worse hit. Rising unemployment rates, decrease in tourist inflow and lower spending are some of the major factors affecting the growth of the American Indian business.

Significantly, allied businesses of the casino industry too have not been spared of the impacts of the ongoing financial crisis. Many American Indian tribes earning a livelihood by selling custom gift baskets have found no takers for their products. Due to this, growth prospects of the American Indian business appear grim at the moment.

Notwithstanding the tumultuous economic situation prevailing at the moment, experts expect the American Casino Industry to gain momentum in the coming days. The tribal gaming enterprises are seen at an advantageous position as these companies operate on moderate budgets in comparison to their counterparts in Las Vegas. Furthermore, some new initiatives and projects are being undertaken to promote the casino industry in the Native American regions. Hence people looking at affordable gaming options would flock to these tribal areas to experience a different gaming scene.

Meanwhile, in a bid to sustain and survive in difficult times like these many Native Americans are foraying into different sectors that can help them ride out of the economic crisis.