The Falkland Islands is a [[British Overseas Territory (BOT)]] located in the South Atlantic, consisting of two main islands and hundreds of smaller ones. Its economy is based primarily on fishing licenses, agriculture, and tourism. Key economic sectors include commercial fishing (particularly squid), sheep farming (wool production), tourism (focused on wildlife and battlefield tours), and offshore oil exploration. The territory uses the Falkland Islands Pound (at parity with British Pound) and maintains a relatively high standard of living for its small population. Despite its remote location, the islands have developed a stable economy based on natural resources and tourism, though face challenges with their isolated position, limited population, and ongoing sovereignty dispute with [[Argentina]].