Why did the plantation system come such an important role in the southern economy?

During the imperialistic era of European colonization, their over seas colonies that had plantations became important. Nations such as Great Britain, France, Spain, Portugal and even Belgium owned colonies that had tropical or semi tropical climates that were useful for growing needed crops for the Europeans.

The products grown in these colonies such as cotton were grown on large plantations fielded with low paid farmers. This arrangement was a cheap source of products for the colonial nations and thus became very important.