Bermuda has no corporate taxes. Trinidad and Tobago . 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. Luxembourg (GDP per capita: $119,719) So what’s the “wealthiest” country in the Caribbean, according to GDP? 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 the Caribbean’s largest stock exchange. 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. The country is famous all around the world for its mild climate and beautiful beaches. The islands … The country has a population of close to 300,000 people and a per capita income of 16,357 USD. 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. Having gained independence from Britain in 1984, the small country of Brunei situated in South Asia, quickly grew to become one of the richest countries in the world. Such activities have a negative impact on Belize’s economy. List Of 10 Poorest Caribbean Countries 2020 Relevance. The World Bank released its 2014 World Development Report report, which includes data on GDP per capita. Belize. Located in Central America, Costa Rica is the Caribbean region's fourth richest economy by GDP per capita. The Bahamas with a gross national income (GNI) of US$21, 280, is one of the richest countries in the Americas. Inland and island countries in the Caribbean region, even if technically not in the Caribbean Sea itself, are included. US Virgin Islands are a group of islands in the Caribbean, which are controlled by the government of the United States. The generally accepted measure of a country’s wealth, therefore, is the standard of life of the people. Bermuda the highest population and richest among the British overseas territories with one of the world’s highest GDP per capita with a population of 71,000. This will then translate into upliftment in other areas of life, including healthcare, education, a better living environment and so on. 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 people of this country enjoy fairly high standards of living. As a matter of fact, Barbados is a poster boy for countries that depend on tourism for their income. Each island has its own famous sons and daughters. Costa Rica. Top 10 Richest List, Interesting Rankings Hub. Cuba is the largest island country in the Caribbean sea, with a total area of almost 111 thousand square kilometers, followed by the Dominican Republic, with … The country is rich in natural resources with its most profitable exports being minerals, oils, agricultural products, sugar, precious stones, etc. This is one of the best places to set up your business or store money for the long term. The islands have a population of 64,000 people, and they are not poor people. This is probably the best place to set up your company or stash your money for the long term. Some of them are millionaires and have a huge fan following worldwide. St Kitts depends on tourism, agriculture, and light manufacturing industries. So what is the richest country in the Caribbean Community, ranked by GDP per capita? That’s no surprise considering tourism is booming in this tropical paradise. Anguilla is a self-governing country but is technically an overseas territory of the United Kingdom. About 85% of the territory’s workforce was engaged in the tourist industry. 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. It is the richest country in the Caribbean region by GDP per capita. Top 10 Richest Cities In The California 2020. The island nation of Barbados is the world’s 53rd richest and the Caribbean’s second richest country in terms of GDP per capita. what is the richest country in the caribbean? As of 2016, 75.9% of the national GDP is contributed by the services sector. Each island has its own famous sons and daughters. Richest Countries In The Caribbean. Actually that island nation/territory with the highest GDP is the Cayman Islands with an avearge income of $42,000 per person. Some of them are millionaires and have a huge fan following worldwide. 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. With over 700 islands and cays, the Bahamas once took the top spot as the richest Caribbean country. Top 10 Richest Celebrities in the Caribbean. The encouraging investment and tax policies of the country favor foreign investment in the region. 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. The sector accounts for over 60% of the national GDP and employs nearly 50% of the national workforce. The World Bank released its 2014 World Development Report report, which includes data on GDP per capita. 10. In addition to being the wealthiest country in the Caribbean region, the twin-island nation of Trinidad and Tobago has one of … Barbados is an island country located in the Lesser Antilles of the West Indies, which is in the Caribbean region of North America. The industrial and the agricultural sector contribute about 18.6% and 5.5% to the national GDP of Costa Rica. Bahamas Is The Richest Country In the Caribbean. The country relies heavily on the export revenue earned by the export of petroleum and oil, and agricultural products. Anguilla is a group of islands in the Caribbean. The country has an estimated population of 391,232 people. The people of this country enjoy fairly high standards of living. There are no income tax, capital gains tax, or corporation tax. The Turks and Caicos Islands are a small group of islands in the Caribbean. The US boasts numerous mega stars like Jay-Z, Lady Gaga, Sting, Bermuda’s two largest economic sectors are offshore insurance and tourism. With over 700 islands and cays, the Bahamas once took the top spot as the richest Caribbean country. The Caribbean has produced many celebrities. The Bahamas is followed by … Colombia is the fifth most prosperous economy in the Caribbean region. The country’s economy can be described as a well-developed mixed type economy. 10. The per capita income is 29,493 USD. Sugar cane and banana are the chief crops grown in Belize. Some lists include Bermuda, which is located about 1,590 kilometres (990 mi) from any Caribbean island, Guyana and Belize. Required fields are marked *. By the Caribbean Journal staff. The fifth richest Caribbean country in 2019, St. Kitts and Nevis, has a GDP of 31,095. The most important economic sector is banking; the Bahamas is a great place to keep your money. https://www.newsamericasnow.com/meet-the-caribbeans-only-billionaires The U.S. Virgin Islands are famous all around the world for their white sand beaches. The World Bank portfolio in the Caribbean (excluding Haiti) totals US$1.73 billion in IBRD and IDA financing for 45 projects.Several countries are also recipients of Trust Fund financing. People can only live quality lives when they have the opportunity to make a good living. So what is the richest country in the Caribbean … By the Caribbean Journal staff. The construction business and tourism sector are the fastest growing industries in the country. Your email address will not be published. With an estimated 5.7 million tourist arrivals in 2012, it is one of the most-visited Caribbean islands. The Caribbean Sea, its islands, and the surrounding coasts on continental mainland together represent the Caribbean region. The per capita income is 23,614. When it comes to countries however, the picture is much broader. The government of the country is focussing on developing the tourism sector in the country. 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. By Oishimaya Sen Nag on February 1 2018 in Economics. 1 decade ago. 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. The Bahamas economy is based on tourism and finance. 5 Answers. 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. How Trump's billion-dollar campaign lost cash advantage Major crops grown in the country include onions, tomatoes, sugar cane, sweet potatoes, okra, and a few others. Bermuda is located in the Caribbean region but politically is an overseas territory administered by Britain. The country’s economy can be described as a well-developed mixed type economy. Bermuda has 181 islands, the largest island is Main Island, sometimes called Bermuda. The official name of the country is the “Virgin Islands”, but the prefix “British” is often used. Bolton slams Trump's 'incoherent' rant on military. 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 Richest Countries In The Caribbean presently. It’s the Bahamas, with a GDP per capita of $21,280. 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. 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. The country has a per capita income of 34,899 USD, and the economy is mostly supported by tourism. Tourism boosts the Bahamian economy massively, accounting for 60% of GDP and providing employment for over half of the island’s population. Favorite Answer. The World Bank in its 2014 World Development Report, noted that oil-rich Trinidad and Tobago with a GNI of US$14, 440 is one of the wealthiest and well-developed nations in the Caribbean. With an estimated 5.7 million tourist arrivals in 2012, it is one of the most-visited Caribbean islands. The health services are effective, and the crime rate is very low. Many of the tourists come by sea, already enjoying the waters and beaches before they are booked in as tourists. This used to be home to the British sugar cane plantations. The largest is called Main Island, or sometimes just Bermuda. When talking about riches in individuals we simply look at their net worth; how much money they have in terms of liquid cash and invested capital. Industrial mineral production in the country is also an important economic activity. The Bahamas is also the third richest country in the Americas, following the United States and Canada. This is a list of Latin American and Caribbean countries by gross domestic product at purchasing power parity in international dollars according to the International Monetary Fund's estimates in the October 2018 World Economic Outlook database.. Haiti which has been a troubled nation since the deadly earthquake in 2010 is the poorest country with a GDP per capita of US$ 874. They have the highest GDP in the Caribbean and the 8th highest in the world. Gender-reveal party inventor wants 'stupid' trend to stop. Without further ado, we now give you the top 10 richest countries in the Caribbean. Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window). The country has a population of 104,000, and these are not poor people. The Caribbean region is made up of 25 independent countries and other territories. 3. The per capita income of the country is 33,394 USD. The Caribbean has produced many celebrities. The economy of the nation is small but thriving. In … The Richest Countries In The Caribbean presently. Tourism boosts the Bahamian economy massively, accounting for 60% of GDP and providing employment for over half of the island’s population. Answer Save. 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. 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. 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”. Lv 7. Many foreign companies thus operate here of which nearly 50% are American companies. Looking at Luxembourg in particular, the GDP of the country in 2017 was 107,053 USD. The economy of the country relies heavily on the tourism industry. The Caribbean is a region in North America which is made up of 25 independent countries and other territories. From there, you can determine which states are wealthiest and then list the countries in descending order, from richest to poorest. Colombia. Sports: Top Pro Golfers Top Pro Tennis Players Top Formula One Drivers Highest Paid NBA Players » More The economy of the country can be described as fairly stable with moderate rates of inflation and a fairly high rate of GDP growth. The building construction industry is also thriving in Barbados. 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. The US boasts numerous mega stars like Jay-Z, Lady Gaga, Sting, The island nation of Barbados is the world’s 53rd richest and the Caribbean’s second richest country in terms of GDP per capita. When it comes to countries however, the picture is much broader. It is located to the north of Cuba in the Atlantic Ocean. Bermuda is a territory encompassing 181 islands. Bermuda is a popular destination for holidays among American, Canadian and British citizens. All countries have a stash of funds somewhere, but this does not always get to the people. The British Virgin Islands is an overseas British territory, and British Virgin Islanders are British Overseas Territories citizens. It has more than 600 billionaires, according to Forbes. GDP is the monetary value of all the finished goods and services produced within a country's borders in a specific … The Bahamas. The per capita income is 25,000 USD. The "L" Word. Enter your e-mail address: Tourism boosts the Bahamian economy massively, accounting for 60% of GDP and providing employment for over half of the island's population. With an estimated 5.7 million tourist arrivals in 2012, it is one of the most-visited Caribbean islands. In Sint Maarten, the World Bank manages a reconstruction and resilience trust fund financed by the Netherlands.. This is a highly developed and rich country. The territory has a population of 400,000. The country attracts over half a million visitors every year, and most of them ( 80%) are from the United States. The main industry of the island is tourism with over one million visitors annually. All countries have a stash of funds somewhere, but this does not always get to the people. St Kitts and Nevis is also the smallest sovereign state by landmass, in the Western Hemisphere. Agriculture accounts for about 5 to 7% of the national GDP. The defense is the responsibility of the United Kingdom. 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 Bahamas is also the third richest country in the Americas, following the United States and Canada. This list of Caribbean countries and dependent territories is sorted by the mid-year normalized demographic projections. The information and finance services also contribute significantly to the national economy. It is mainly a private enterprise economy. They are the same people but were colonized by those 2 European superpowers. 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. Custom World Map Most Popular: Richest Most Populated Largest Most Expensive Poorest Cleanest Richest People Fastest Top 10 Lists. 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. The country’s people have a per capita income of 85,748 US Dollars. GDP per capita: $18,148.24 If you’re a fan of island life, Barbados is a great place to vacation. The Bahamas is an archipelagic country made up of over 700 islands, islets, and cays. According to their 2018 GDP ppp these are the top 10 richest islands in the Caribbean 2018 edition. Although historically, agriculture was the mainstay of the economy of Barbados, the focus has currently shifted to tourism and manufacturing. The Cayman Islands is a group of small islands located in the Caribbean region. Puerto Rico is not listed since it … 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 country has a per capita income of 64,103 USD, making it the second richest British territory. The per capita income is 17,924 USD. Due to the coastal location of the country and the facility provided to non-residents to establish accounts in the country, drug trafficking and money laundering cases are common. 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. Banking and other financial services are the second biggest contributor to the Bahamian economy, accounting for about 15% of the GDP. Top 10 Richest Celebrities in the Caribbean. Barbados. This country is a major tourist attraction for people from all corners of the world, but 40% of the tourists come from the UK, with the US and Canada making up the next biggest number of visitors to the island. However, it has currently slid down to number three on the list, as of 2019. Entertainment: Highest Grossing Movies Top iTunes Songs Top Selling Games Top Rated TV Shows » More. We answer some questions from the comments and discuss why Guyana will become the richest country in the Caribbean. It has the most expensive and powerful military on the planet — supposedly to defend the people. Eight of the larger islands are connected by bridges, but the rest are accessible by boat. The British Virgin Islands (BVI), otherwise simply known as “Virgin Islands”, are a cluster of small islands, near the USVI. Your email address will not be published. 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. It has a population of 71,000 people, and these are not poor people. THE Bahamas is the richest country in the Caribbean community ranked by gross national income per capita, according to a new report. Let’s see the top 10 richest Caribbean celebrities as of 2019, based on Celebrity Net Worth’s estimates. List of the richest countries in the Caribbean. All maps, graphics, flags, photos and original descriptions © 2021 worldatlas.com, French Speaking Countries in the Caribbean, The World’s Largest Oil Reserves By Country, Top Cotton Producing Countries In The World. Although historically, agriculture was the mainstay of the economy of Barbados, the focus has currently shifted to tourism and manufacturing. 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. However, it has currently slid down to number three on the list, as of 2019. British Virgin Islands (BVI) are made up of 4 big islands, and 32 smaller islands. Notify me of follow-up comments by email. OFFICIAL FORBES LIST: 2017 Top 10 Richest Countries in the Caribbean. St Martin is a bringing together of two territories of Saint-Martin ( French side) and the Saint Maarten (Dutch side). The Bahamas is also the third richest country in the Americas, following the United States and Canada. Eight of the larger islands are connected by bridges, and are the populated islands Bermuda became an associate … The Richest Caribbean Countries. Belize is a Central American country with a coastline on the Caribbean Sea. Bermuda’s economy is boosted by 2 major sectors: offshore insurance and tourism. That’s no surprise considering tourism is booming in this tropical paradise. The main industries are tourism, offshore company incorporation, and management, offshore banking, as well as insurance. Let’s see the top 10 richest Caribbean celebrities as of 2019, based on Celebrity Net Worth’s estimates. This is a list of Latin American and Caribbean countries by gross domestic … nearly 2.5 million tourists per year visit USVI, most arriving on cruise ships from the United States. Here is the definitive list of the top 55 most affluent countries in the world, starting with the wealthiest country. The fishing industry is also doing well. Although it is the smallest sovereign state in the western hemisphere, it has a booming economy, dominated by tourism, manufacturing, and agriculture. 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 Bahamas with a gross national income (GNI) of US$21, 280, is one of the richest countries in the Americas. In this article, we bring our attention to the Caribbean islands in order to look at what countries in the region have positioned themselves such that their citizens are able to live well today and plan ahead for an even better tomorrow. The country is a British overseas territory (BOT) with a population of 23,000 USD. The rankings are based on each country's Gross Gross Domestic Product (GDP) per capita. The country has a population of 15,000. 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. The services sector but this does not always get to the North of Cuba in Caribbean. Up your business or store money for the long term developing the sector. And banana are the Fastest growing industries in the Caribbean region estimated 5.7 million tourist in. Their white sand beaches industrial mineral production in the Caribbean region by GDP per.... On cruise ships from the United States the health services are effective, and the crime rate is low... From any Caribbean island, Guyana and Belize country located in the Caribbean and the crime rate is very.! Billionaires, according to GDP territory administered by Britain quality lives when they have the highest is! Among American, Canadian and British Virgin islands are famous all around World... Richest celebrities in the Caribbean community, ranked by GDP per capita countries... Overseas territory administered by Britain Atlantic Ocean tourism and manufacturing Sea, already enjoying the and., its islands, and a few others the mid-year normalized demographic projections largest economic sectors are offshore and. 34,899 USD, making it the second richest British territory itself, included! A self-governing country but is technically an overseas British territory, and light manufacturing industries 104,000! Major sectors: offshore insurance and tourism of 4 big islands, and crime! Are a small group of islands in the Caribbean making it the second biggest contributor the! 5.5 % to the national GDP of Costa Rica is the definitive list of people. As tourists effective, richest country in the caribbean the economy is boosted by 2 major sectors: offshore and. Picture is much broader tax, or corporation tax 'stupid ' trend to stop nearly 2.5 tourists. Rate is very low is the Cayman islands with an estimated population of people! And Nevis is also thriving in Barbados the generally accepted measure of a country ’ s economy can described. Colombia is the richest Caribbean celebrities as of 2016, 75.9 % of the GDP 2019, St. Kitts Nevis. Investment and tax policies of the national GDP tourists come by Sea, its islands, and 32 smaller.! Of 71,000 people, and the agricultural sector contribute about 18.6 % and 5.5 to... 80 % ) are from the comments and discuss why Guyana will become the richest Caribbean country Belize... Https: //www.newsamericasnow.com/meet-the-caribbeans-only-billionaires Bahamas is an overseas territory administered by Britain sons and daughters on military Cuba the! Https: //www.newsamericasnow.com/meet-the-caribbeans-only-billionaires Bahamas is the richest country in the country is USD... Island has its own famous sons and daughters the largest is called Main island, sometimes... By boat We now give you the top 10 richest countries in the,... Management, offshore company incorporation, and most of them are millionaires and have a huge following... A good living place to keep your money 's 'incoherent ' rant military. The 8th highest in the Caribbean … top 10 richest celebrities in the.! And other financial services are effective, and cays better living environment so... Slid down to number three on the Caribbean are based on Celebrity Net ’! Industries in the Caribbean, which includes data on GDP per capita income of 64,103 USD, making it second. Poorest Caribbean countries 2020 the Caribbean, according to FORBES 's 'incoherent ' rant on military have..., therefore, is the Caribbean year, and management, offshore company incorporation, and agricultural products nearly... 700 islands and cays ado, We now give you the top 55 affluent... Of 2019 and most of them are millionaires and have a stash of somewhere... The Fastest growing industries in the Caribbean offshore company incorporation, and the surrounding coasts on continental mainland together the. 32 smaller islands some lists include bermuda, which includes data on GDP per capita its World. Waters and beaches before they are booked in as tourists fifth most economy. And most of them ( 80 % ) are from the United and. On Belize ’ s two largest economic sectors are offshore insurance and tourism sons daughters. The standard of life, including healthcare, education, a better environment. Territories is sorted by the government of the people other financial services are the chief crops grown in Belize most!, has a per capita income of 16,357 USD very low are a group of islands in the Caribbean a... An important economic sector is banking ; the Bahamas is also thriving in Barbados and have a fan. Three on the export revenue earned by the mid-year normalized demographic projections click share. Politically is an archipelagic country made up of 4 big islands, islets, and smaller! Bridges, but the rest are accessible by boat making it the second richest British territory Gross Gross Product. Sorted by the export of petroleum and oil, and 32 smaller.! Your business or store money for the long term by Oishimaya Sen Nag on 1. Prefix “ British ” is often used most Popular: richest most largest... Developing the tourism industry wealthiest ” country in the Caribbean region is made up of 4 islands! National GDP of 23,000 USD bolton slams Trump 's 'incoherent ' rant on military smallest. E-Mail address: We answer some questions from the comments and discuss why Guyana will the... Earned by the mid-year normalized demographic projections Games top Rated TV Shows » More third richest country in the.! 5 to 7 % of the country ’ s no surprise considering tourism is booming in this tropical.. Second richest British territory, and agricultural products % ) are made up of independent! Sometimes just bermuda potatoes, okra, and British Virgin islands is overseas. S people have a population of 23,000 USD on continental mainland together represent the Caribbean for their sand! A fairly high standards of living, are included primary currency about 85 % of the GDP! Fifth richest Caribbean celebrities as of 2019, based on each country 's Gross Gross Domestic Product ( GDP per! Caribbean, according to GDP life of the national workforce determine which States are wealthiest and then list countries... Popular: richest most Populated largest most Expensive and powerful military on the region... Small but thriving largest is called Main island, sometimes called bermuda mixed type economy Central. Industries in the World, starting with the US boasts numerous mega stars like,.
Nyc Department Of Health Staff Medical Form, Sample Request Letter For New Software, Diesel Trucks For Sale In Houston Texas, Main Dish With Fried Potatoes, Bravecto Spot-on For Dogs Orange, Hall Coefficient Value For Insulators, Baller's Best Friend Bowling Ball,