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The World Bank released its 2014 World Development Report report, which includes data on GDP per capita. So what’s the “wealthiest” country in the Caribbean, according to GDP? Tourism boosts the Bahamian economy massively, accounting for 60% of GDP and providing employment for over half of the island’s population. How Trump's billion-dollar campaign lost cash advantage Barbados. 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 economy of the country can be described as fairly stable with moderate rates of inflation and a fairly high rate of GDP growth. The information and finance services also contribute significantly to the national economy. Let’s see the top 10 richest Caribbean celebrities as of 2019, based on Celebrity Net Worth’s estimates. The per capita income is 25,000 USD. The Cayman Islands is a group of small islands located in the Caribbean region. The country relies heavily on the export revenue earned by the export of petroleum and oil, and agricultural products. Bermuda’s economy is boosted by 2 major sectors: offshore insurance and tourism. The Turks and Caicos Islands are a small group of islands in the Caribbean. However, it has currently slid down to number three on the list, as of 2019. OFFICIAL FORBES LIST: 2017 Top 10 Richest Countries in the Caribbean. As a matter of fact, Barbados is a poster boy for countries that depend on tourism for their income. The Bahamas. Belize. The Bahamas with a gross national income (GNI) of US$21, 280, is one of the richest countries in the Americas. As of 2016, 75.9% of the national GDP is contributed by the services sector. 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. Relevance. Anguilla is a group of islands in the Caribbean. The country attracts over half a million visitors every year, and most of them ( 80%) are from the United States. Each island has its own famous sons and daughters. This is probably the best place to set up your company or stash your money for the long term. 3. We answer some questions from the comments and discuss why Guyana will become the richest country in the Caribbean. The country has a per capita income of 64,103 USD, making it the second richest British territory. 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. Top 10 Richest List, Interesting Rankings Hub. When it comes to countries however,  the picture is much broader. Anguilla is a self-governing country but is technically an overseas territory of the United Kingdom. Looking at Luxembourg in particular, the GDP of the country in 2017 was 107,053 USD. 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 Caribbean Sea, its islands, and the surrounding coasts on continental mainland together represent the Caribbean region. 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 … Bermuda has 181 islands, the largest island is Main Island, sometimes called Bermuda. The country is a British overseas territory (BOT)  with a population of 23,000 USD. 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. The economy of the country relies heavily on the tourism industry. Gender-reveal party inventor wants 'stupid' trend to stop. It is located to the north of Cuba in the Atlantic Ocean. 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. 1 decade ago. Industrial mineral production in the country is also an important economic activity. Although historically, agriculture was the mainstay of the economy of Barbados, the focus has currently shifted to tourism and manufacturing. 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 Caribbean region is made up of 25 independent countries and other territories. The Bahamas is also the third richest country in the Americas, following the United States and Canada. St Martin is a bringing together of two territories of Saint-Martin ( French side)  and the Saint Maarten (Dutch side). The economy is dependent on tourism and the country is a major offshore financial center with the US dollar used as the primary currency. This is a highly developed and rich country. The richest economies in this region are as follows: The Bahamas is an archipelagic country made up of over 700 islands, islets, and cays. 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. It’s Aruba, with a GDP per capita of $23,353, followed by the Bahamas at $22,217 and Trinidad and Tobago at 21,323. Banking and other financial services are the second biggest contributor to the Bahamian economy, accounting for about 15% of the GDP. It has more than 600 billionaires, according to Forbes. About 85% of the territory’s workforce was engaged in the tourist industry. The island nation of Barbados is the world’s 53rd richest and the Caribbean’s second richest country in terms of GDP per capita. In addition to being the wealthiest country in the Caribbean region, the twin-island nation of Trinidad and Tobago has one of … The generally accepted measure of a country’s wealth, therefore, is the standard of life of the people. It is mainly a private enterprise economy. Bermuda is a popular destination for holidays among American, Canadian and British citizens. It has a population of 71,000 people, and these are not poor people. Lv 7. A popular Web site has compiled a list of the 10 richest independent countries in the Caribbean, and as expected, The Bahamas came out on top. Sports: Top Pro Golfers Top Pro Tennis Players Top Formula One Drivers Highest Paid NBA Players » More By the Caribbean Journal staff. The banking industry is also very much viable, with the conducive tax and corporate regimes attracting high net worth individuals from all over the world to bring their money for safekeeping in the country. Haiti which has been a troubled nation since the deadly earthquake in 2010 is the poorest country with a GDP per capita of US$ 874. From there, you can determine which states are wealthiest and then list the countries in descending order, from richest to poorest. The country is famous all around the world for its mild climate and beautiful beaches. It has the most expensive and powerful military on the planet — supposedly to defend the people. All countries have a stash of funds somewhere, but this does not always get to the people. British Virgin Islands (BVI) are made up of 4 big islands, and 32 smaller islands. That’s no surprise considering tourism is booming in this tropical paradise. 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. The defense is the responsibility of the United Kingdom. Bermuda is a territory encompassing 181 islands. The island nation of Barbados is the world’s 53rd richest and the Caribbean’s second richest country in terms of GDP per capita. Bermuda’s two largest economic sectors are offshore insurance and tourism. The Caribbean is a region in North America which is made up of 25 independent countries and other territories. Costa Rica. 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. The Bahamas is an archipelagic country made up of over 700 islands, islets, and cays. The territory has a population of 400,000. The "L" Word. 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. Your email address will not be published. Inland and island countries in the Caribbean region, even if technically not in the Caribbean Sea itself, are included. 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”. It’s the Bahamas, with a GDP per capita of $21,280. The building construction industry is also thriving in Barbados. Top 10 Richest Celebrities in the Caribbean. Top 10 Richest Celebrities in the Caribbean. So what is the richest country in the Caribbean … The US boasts numerous mega stars like Jay-Z, Lady Gaga, Sting, Bahamas Is The Richest Country In the Caribbean. By the Caribbean Journal staff. Sugar cane and banana are the chief crops grown in Belize. 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 used to be home to the British sugar cane plantations. The Bahamas economy is based on tourism and finance. The Bahamas is also the third richest country in the Americas, following the United States and Canada. Barbados is an island country located in the Lesser Antilles of the West Indies, which is in the Caribbean region of North America. The country’s economy can be described as a well-developed mixed type economy. Tourism boosts the Bahamian economy massively, accounting for 60% of GDP and providing employment for over half of the island’s population. Colombia is the fifth most prosperous economy in the Caribbean region. 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