Diamonds and their revenues play a key role in the development and prosperity of countries worldwide. From creating local employment opportunities, to funding building projects and infrastructure improvements, to education and healthcare, the contributions of the diamond industry are transformational.
The vast majority of the world’s diamonds come from sources that use the revenues generated by diamonds to aid their national development.
Given good governance and appropriate laws, diamonds are a vital source of revenue for building infrastructure and essential social services such as hospitals and schools.
The diamond industry provides livelihoods for millions of people around the globe. The employment opportunities allow thousands to make a salary, obtain healthcare, create a better home environment, provide education for their children and much more.
These jobs also supply subsequent indirect employment, expanding the communities around where diamonds are found and offering broader opportunities to the people of the communities.
The revenues generated from the diamond trade also help build vital infrastructure like roads and public transportation systems.
For example, in Botswana in 1966 there were only three miles of road in Botswana. Today, there are nearly 4,000, as well as a public transportation system.
Diamond revenues have a tremendous impact on educational opportunities for people in countries all over the world.
It plays a particularly important role in overcoming the immense challenges of education in Africa. While in many western countries it is common to provide free education, in countries throughout Africa it is typical for schooling to be funded by the family.
An estimated five million people have access to appropriate healthcare globally thanks to revenue from diamonds.
Diamonds have long funded—and continue to fund—public healthcare programs. Nowhere on earth are these programs more important than in Africa. Besides having some of the highest child mortality rates in the world, no other continent has been more affected by the HIV/AIDS crisis.