18 July 2015 - Business View Caribbean
The
Top 10
Richest
Caribbean
Islands
Historically, most Caribbean islands belonged to a variety of European colonial powers. However, since
achieving independence and/or autonomy, many Caribbean islands have managed to establish themselves
competitively in the global economy. While tourism is still the top money-maker in the region, many of
these islands have added agriculture, manufacturing and financial industries to their growing economies.
The following list has been drawn up according to recent data collected by the World Bank, estimating the
GDP per capita on each island.
10. Grenada –
$10, 928 GDP per capita - Grenada has
a small, open economy that’s largely tourism-based;
however, the island remains a key exporter of spices,
and is the second biggest exporter of nutmeg in the
world. It also exports cocoa, bananas and citrus fruits.
9. St Vincent and the Grenadines
– $11, 047 GDP per
capita - Bananas account for more than 60 percent
of the work force, and 50 percent of merchandise ex-
ports. A new airport is currently under construction on
the island to improve accessibility and encourage the
stability of the tourism industry.
8. St Lucia
– $11, 427 GDP per capita – With its ba-
nana industry in the doldrums, the emergence of a
prosperous tourism sector has bolstered the economy.
The island has also attracted foreign investment in pe-
troleum storage and transshipment.
7. Dominica
– $12, 426 GDP per capita - Banana
production employs a third of the island’s population.
Dominica also produces coffee, aloe vera, exotic fruits,
and manufactured soaps. It is a growing destination
for eco-tourists, as well.
6. St Kitts and Nevis
– $18, 384 GDP per capita - The
service industry accounts for an estimated 75 percent
of GDP. Over a third of the islands’ land is reserved for
