Belize is a Central American country with a coastline on the Caribbean Sea. Each island has its own famous sons and daughters. The most important economic sector is banking; the Bahamas is a great place to keep your money. The economy of the country relies heavily on the tourism industry. British Virgin Islands (BVI) are made up of 4 big islands, and 32 smaller islands. So what’s the “wealthiest” country in the Caribbean, according to GDP? In addition to being the wealthiest country in the Caribbean region, the twin-island nation of Trinidad and Tobago has one of … The islands … Eight of the larger islands are connected by bridges, and are the populated islands Bermuda became an associate … The World Bank in its 2014 World Development Report, noted that oil-rich Trinidad and Tobago with a GNI of US$14, 440 is one of the wealthiest and well-developed nations in the Caribbean. https://www.newsamericasnow.com/meet-the-caribbeans-only-billionaires The country relies heavily on the export revenue earned by the export of petroleum and oil, and agricultural products. How Trump's billion-dollar campaign lost cash advantage The fifth richest Caribbean country in 2019, St. Kitts and Nevis, has a GDP of 31,095. It’s the Bahamas, with a GDP per capita of $21,280. Tourism boosts the Bahamian economy massively, accounting for 60% of GDP and providing employment for over half of the island’s population. Here is the definitive list of the top 55 most affluent countries in the world, starting with the wealthiest country. The island nation of Barbados is the world’s 53rd richest and the Caribbean’s second richest country in terms of GDP per capita. The information and finance services also contribute significantly to the national economy. This is a list of Latin American and Caribbean countries by gross domestic product (nominal) in USD according to the International Monetary Fund's estimates in the October 2020 World Economic Outlook database.. Cuba is not included in the list due to lack of economic data. US Virgin Islands (USVI) – 34,899 USD; US Virgin Islands are a group of islands in the Caribbean, which are controlled by the government of the United States. Although the economy was highly dependent on agriculture in the past, rapid urbanization in the 20th century shifted the focus from agriculture to other economic sectors. About 85% of the territory’s workforce was engaged in the tourist industry. The "L" Word. The per capita income is 29,493 USD. Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window). The Bahamas. The country’s economy can be described as a well-developed mixed type economy. Barbados is an island country located in the Lesser Antilles of the West Indies, which is in the Caribbean region of North America. Colombia is the fifth most prosperous economy in the Caribbean region. This is probably the best place to set up your company or stash your money for the long term. The Bahamas with a gross national income (GNI) of US$21, 280, is one of the richest countries in the Americas. Sports: Top Pro Golfers Top Pro Tennis Players Top Formula One Drivers Highest Paid NBA Players » More The main industries are tourism, offshore company incorporation, and management, offshore banking, as well as insurance. The Caribbean Sea, its islands, and the surrounding coasts on continental mainland together represent the Caribbean region. It has the most expensive and powerful military on the planet — supposedly to defend the people. Let’s see the top 10 richest Caribbean celebrities as of 2019, based on Celebrity Net Worth’s estimates. Bermuda is located in the Caribbean region but politically is an overseas territory administered by Britain. Bermuda is a territory encompassing 181 islands. Top 10 Richest Celebrities in the Caribbean. The encouraging investment and tax policies of the country favor foreign investment in the region. This too is a British overseas territory, and famous as one of the biggest offshore tax havens in the world for international businesses as well as wealthy individuals. The Bahamas is also the third richest country in the Americas, following the United States and Canada. The country has a per capita income of 34,899 USD, and the economy is mostly supported by tourism. 10. The official name of the country is the “Virgin Islands”, but the prefix “British” is often used. The economy of the country can be described as fairly stable with moderate rates of inflation and a fairly high rate of GDP growth. With an average gross national income of US$7,110 Grenada is ranked as the third wealthiest OECS country and sixth in the Caribbean region according to 2014 World Bank Development Report. Major crops grown in the country include onions, tomatoes, sugar cane, sweet potatoes, okra, and a few others. Although historically, agriculture was the mainstay of the economy of Barbados, the focus has currently shifted to tourism and manufacturing. what is the richest country in the caribbean? nearly 2.5 million tourists per year visit USVI, most arriving on cruise ships from the United States. Bermuda is a popular destination for holidays among American, Canadian and British citizens. I came across an article on Caribbean Net News about the top 10 richest countries in the Caribbean, and I went across to check out Canadian website Aneki.com, who compiled the rankings. Barbados is the wealthiest and one of the most developed countries in the Eastern Caribbean and enjoys one of the highest per capita incomes in the region. Its Sultan regulates everything from the military to the economy, imposing unique punishing rules but also providing free education and medical care for its citizens. It is the richest country in the Caribbean region by GDP per capita. With over 700 islands and cays, the Bahamas once took the top spot as the richest Caribbean country. By the Caribbean Journal staff. Your email address will not be published. GDP per capita: $ 20,240.91 The first country on the list with a GDP per capita exceeding $20,000, Estonia is another former Soviet bloc country that now stands as a parliamentary republic. This will then translate into upliftment in other areas of life, including healthcare, education, a better living environment and so on. This is a highly developed and rich country. Answer Save. Colombia. Bermuda has 181 islands, the largest island is Main Island, sometimes called Bermuda. Relevance. Eight of the larger islands are connected by bridges, but the rest are accessible by boat. Bermuda’s economy is boosted by 2 major sectors: offshore insurance and tourism. By Oishimaya Sen Nag on February 1 2018 in Economics. The Cayman Islands is a group of small islands located in the Caribbean region. Top 10 Richest Celebrities in the Caribbean. St Kitts depends on tourism, agriculture, and light manufacturing industries. The country’s people have a per capita income of 85,748 US Dollars. This list of Caribbean countries and dependent territories is sorted by the mid-year normalized demographic projections. The Bahamas is made up of more than 700 islands, cays, and islets, and is located just north of Cuba, in the Atlantic Ocean. The British Virgin Islands is an overseas British territory, and British Virgin Islanders are British Overseas Territories citizens. Bahamas Is The Richest Country In the Caribbean. Belize. Barbados. Favorite Answer. The Caribbean is a region in North America which is made up of 25 independent countries and other territories. OFFICIAL FORBES LIST: 2017 Top 10 Richest Countries in the Caribbean. The Richest Countries In The Caribbean presently. The U.S. Virgin Islands consists of the main islands of Saint Croix, Saint John, and Saint Thomas, and many other small islands huddled together and accessed by boat. Top 10 Richest List, Interesting Rankings Hub. Banking and other financial services are the second biggest contributor to the Bahamian economy, accounting for about 15% of the GDP. Without further ado, we now give you the top 10 richest countries in the Caribbean. The US boasts numerous mega stars like Jay-Z, Lady Gaga, Sting, Looking at Luxembourg in particular, the GDP of the country in 2017 was 107,053 USD. Bermuda has no corporate taxes. It has more than 600 billionaires, according to Forbes. Tourism boosts the Bahamian economy massively, accounting for 60% of GDP and providing employment for over half of the island's population. Some lists include Bermuda, which is located about 1,590 kilometres (990 mi) from any Caribbean island, Guyana and Belize. Although historically, agriculture was the mainstay of the economy of Barbados, the focus has currently shifted to tourism and manufacturing. The country is famous for its beaches and resorts and gets over a million visitors a year, most of them coming in from Europe and America. THE Bahamas is the richest country in the Caribbean community ranked by gross national income per capita, according to a new report. Rock n’ Roll, Hip Hop, Pop, Country and the other popular music genres in the West have stars that make millions of dollars every year. After Europe, the Caribbean is the second-most popular getaway for the wealthiest 1 percent and 5 percent of travelers: 47 percent are considering a … The country has a population of 15,000. Many foreign companies thus operate here of which nearly 50% are American companies. The country has a population of 104,000, and these are not poor people. Today, agriculture accounts for only about 6.6% of the Colombian GDP while industry and services account for 19.6% and 64.6% of the national GDP, respectively. The Bahamas is an archipelagic country made up of over 700 islands, islets, and cays. The country has an estimated population of 391,232 people. In Sint Maarten, the World Bank manages a reconstruction and resilience trust fund financed by the Netherlands.. Notify me of follow-up comments by email. Industrial mineral production in the country is also an important economic activity. Enter your e-mail address: The richest economies in this region are as follows: The Bahamas is an archipelagic country made up of over 700 islands, islets, and cays. The main industry of the island is tourism with over one million visitors annually. Some of them are millionaires and have a huge fan following worldwide. Haiti which has been a troubled nation since the deadly earthquake in 2010 is the poorest country with a GDP per capita of US$ 874. According to their 2018 GDP ppp these are the top 10 richest islands in the Caribbean 2018 edition. The country has a population of close to 300,000 people and a per capita income of 16,357 USD. The people of this country enjoy fairly high standards of living. They have the highest GDP in the Caribbean and the 8th highest in the world. Yet way more people have died in the U.S. of the coronavirus — over 360,000 as of Jan. 3 — than in any other country in the world. The banking industry is also very much viable, with the conducive tax and corporate regimes attracting high net worth individuals from all over the world to bring their money for safekeeping in the country. With an estimated 5.7 million tourist arrivals in 2012, it is one of the most-visited Caribbean islands. Lv 7. That’s no surprise considering tourism is booming in this tropical paradise. There are no income tax, capital gains tax, or corporation tax. List of the richest countries in the Caribbean. 1 decade ago. Puerto Rico is not listed since it … This is one of the best places to set up your business or store money for the long term. Luxembourg (GDP per capita: $119,719) The country is rich in natural resources with its most profitable exports being minerals, oils, agricultural products, sugar, precious stones, etc. Actually that island nation/territory with the highest GDP is the Cayman Islands with an avearge income of $42,000 per person. Saint Kitts was the first Caribbean territory to be colonized by the British and French, and thus has been titled “The Mother Colony of the West Indies”. The country attracts over half a million visitors every year, and most of them ( 80%) are from the United States. The per capita income is 17,924 USD. The British Virgin Islands (BVI), otherwise simply known as “Virgin Islands”, are a cluster of small islands, near the USVI. Tourism boosts the Bahamian economy massively, accounting for 60% of GDP and providing employment for over half of the island’s population. Top 10 Richest Cities In The California 2020. However, it has currently slid down to number three on the list, as of 2019. St Martin is a bringing together of two territories of Saint-Martin ( French side) and the Saint Maarten (Dutch side). Rock n’ Roll, Hip Hop, Pop, Country and the other popular music genres in the West have stars that make millions of dollars every year. Many of the tourists come by sea, already enjoying the waters and beaches before they are booked in as tourists. When talking about riches in individuals we simply look at their net worth; how much money they have in terms of liquid cash and invested capital. This is a list of Latin American and Caribbean countries by gross domestic product at purchasing power parity in international dollars according to the International Monetary Fund's estimates in the October 2018 World Economic Outlook database.. It’s Aruba, with a GDP per capita of $23,353, followed by the Bahamas at $22,217 and Trinidad and Tobago at 21,323. The defense is the responsibility of the United Kingdom. Sugar cane and banana are the chief crops grown in Belize. The economy is dependent on tourism and the country is a major offshore financial center with the US dollar used as the primary currency. The country’s economy can be described as a well-developed mixed type economy. With an estimated 5.7 million tourist arrivals in 2012, it is one of the most-visited Caribbean islands. The per capita income is 25,000 USD. When talking about riches in individuals we simply look at their net worth; how much money they have in terms of liquid cash and invested capital. So what is the richest country in the Caribbean Community, ranked by GDP per capita? Each island has its own famous sons and daughters. Richest Countries In The Caribbean. 5 Answers. The generally accepted measure of a country’s wealth, therefore, is the standard of life of the people. Gender-reveal party inventor wants 'stupid' trend to stop. A popular Web site has compiled a list of the 10 richest independent countries in the Caribbean, and as expected, The Bahamas came out on top. This used to be home to the British sugar cane plantations. The Bahamas is also the third richest country in the Americas, following the United States and Canada. 3. The per capita income is 23,614. Custom World Map Most Popular: Richest Most Populated Largest Most Expensive Poorest Cleanest Richest People Fastest Top 10 Lists. US Virgin Islands are a group of islands in the Caribbean, which are controlled by the government of the United States. The Caribbean region is made up of 25 independent countries and other territories. The rankings are based on each country's Gross Gross Domestic Product (GDP) per capita. It is mainly a private enterprise economy. The industrial and the agricultural sector contribute about 18.6% and 5.5% to the national GDP of Costa Rica. In the Bahamas, there are no income tax, corporate tax, capital gains tax, or wealth tax, and this means The Bahamas is one of the best places to establish your company. Anguilla is a self-governing country but is technically an overseas territory of the United Kingdom. The Caribbean has produced many celebrities. All countries have a stash of funds somewhere, but this does not always get to the people. The government of the country is focussing on developing the tourism sector in the country. The U.S. Virgin Islands are famous all around the world for their white sand beaches. The World Bank in its 2014 World Development Report, noted that oil-rich Trinidad and Tobago with a GNI of US$14, 440 is one of the wealthiest and well-developed nations in the Caribbean.
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