St. Pierre & Miquelon is a group of barren islands lying just off the south coast of Newfoundland, Canada. The islands are surrounded by some of the world's richest fishing grounds. Their inhabitants have traditionally earned a living from fishing, and from servicing foreign trawler fleets off the coast. A long-running and sometimes bitter dispute between Canada and France over fishing and mineral rights was settled in 1992. The ruling, which was generally deemed to be in Canada's favor, has led the French authorities to diversify the economy by developing port facilities and encouraging tourism.