What’s the fastest-growing economic system within the Caribbean? In line with a brand new report from the United Nations’ Financial Fee for Latin America and the Caribbean, the reply is straightforward: Antigua and Barbuda.
The dual-island nation is projected to see its GDP develop by 6.3 p.c in 2024, in keeping with the UN ECLAC’s “Financial Survey of Latin America and the Caribbean,” an annual report the Chile-based company compiles obtained by Caribbean Journal.
That 6.3 p.c quantity is larger than another nation within the Caribbean – and it’s projected to proceed to be robust in 2025, with a forecasted GDP progress charge of 4.8 p.c subsequent 12 months.
Antigua and Barbuda’s quantity even tops the longtime regional financial big within the Dominican Republic, which is projected for five.2 p.c progress this 12 months.
The nation is adopted St Vincent and the Grenadines (4.7 p.c) and Dominica at 4.6 p.c within the prime three.
The information represents a really robust sign of the energy of the Antiguan economic system, buoyed by surging tourism arrivals in 2024 which are projected to interrupt a brand new report, native tourism officers informed CJ.
By means of July, the nation reported to CJ that it had obtained 205,004 stayover arrivals, a 16 p.c progress charge in comparison with 2023. Extra crucially, that represents an 11 p.c soar over the identical interval in 2019, the earlier banner 12 months for the vacation spot.
That information was shared by Antigua and Barbuda Tourism Authority CEO Colin C. James throughout a briefing on the State of the Tourism Business convention within the Cayman Islands final week.
The ECLAC report additionally advised Antigua and Barbuda would see a “vital improve” in inflows from the nation’s citizenship by funding program.
Yow will discover the total United Nations report right here.
