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Each island has its own famous sons and daughters. GDP per capita: $18,148.24 If you’re a fan of island life, Barbados is a great place to vacation. Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window). List Of 10 Poorest Caribbean Countries 2020 Trinidad and Tobago . It is mainly a private enterprise economy. The British Virgin Islands (BVI),  otherwise simply known as “Virgin Islands”, are a cluster of small islands, near the USVI. Belize is a Central American country with a coastline on the Caribbean Sea. The country’s economy can be described as a well-developed mixed type economy. British Virgin Islands (BVI) are made up of 4 big islands, and 32 smaller islands. Located in Central America, Costa Rica is the Caribbean region's fourth richest economy by GDP per capita. 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 Cayman Islands is a group of small islands located in the Caribbean region. Richest Countries In The Caribbean. Let’s see the top 10 richest Caribbean celebrities as of 2019, based on Celebrity Net Worth’s estimates. They are the same people but were colonized by those 2 European superpowers. 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”. This is a highly developed and rich country. The largest is called Main Island, or sometimes just Bermuda. 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. Bermuda has no corporate taxes. Relevance. Enter your e-mail address: Looking at Luxembourg in particular, the GDP of the country in 2017 was 107,053 USD. Anguilla is a group of islands in the Caribbean. With an estimated 5.7 million tourist arrivals in 2012, it is one of the most-visited Caribbean islands. How Trump's billion-dollar campaign lost cash advantage Sports: Top Pro Golfers Top Pro Tennis Players Top Formula One Drivers Highest Paid NBA Players » More The country’s people have a per capita income of 85,748 US Dollars. About 85% of the territory’s workforce was engaged in the tourist industry. It has a population of 71,000 people, and these are not poor people. The economy of the nation is small but thriving. The Caribbean Sea, its islands, and the surrounding coasts on continental mainland together represent the Caribbean region. The health services are effective, and the crime rate is very low. Required fields are marked *. 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. 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. All countries have a stash of funds somewhere, but this does not always get to the people. 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. By the Caribbean Journal staff. The information and finance services also contribute significantly to the national economy. The territory has a population of 400,000. Top 10 Richest List, Interesting Rankings Hub. As a matter of fact, Barbados is a poster boy for countries that depend on tourism for their income. 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. The World Bank released its 2014 World Development Report report, which includes data on GDP per capita. 1 decade ago. The Caribbean has produced many celebrities. The fifth richest Caribbean country in 2019, St. Kitts and Nevis, has a GDP of 31,095. This is probably the best place to set up your company or stash your money for the long term. The construction business and tourism sector are the fastest growing industries in the country. OFFICIAL FORBES LIST: 2017 Top 10 Richest Countries in the Caribbean. 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. 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 Bahamas is made up of more than 700 islands, cays, and islets, and is located just north of Cuba, in the Atlantic Ocean. The economy of the country relies heavily on the tourism industry. Some of them are millionaires and have a huge fan following worldwide. The islands have a population of 64,000 people, and they are not poor people. 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 Turks and Caicos Islands are a small group of islands in the Caribbean. Many of the tourists come by sea, already enjoying the waters and beaches before they are booked in as tourists. The fishing industry is also doing well. This used to be home to the British sugar cane plantations. The Bahamas. Although historically, agriculture was the mainstay of the economy of Barbados, the focus has currently shifted to tourism and manufacturing. This will then translate into upliftment in other areas of life, including healthcare, education, a better living environment and so on. 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. GDP is the monetary value of all the finished goods and services produced within a country's borders in a specific … Major crops grown in the country include onions, tomatoes, sugar cane, sweet potatoes, okra, and a few others. The country has a population of 104,000, and these are not poor people. US Virgin Islands are a group of islands in the Caribbean, which are controlled by the government of the United States. Tourism boosts the Bahamian economy massively, accounting for 60% of GDP and providing employment for over half of the island’s population. Let’s see the top 10 richest Caribbean celebrities as of 2019, based on Celebrity Net Worth’s estimates. 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. That’s no surprise considering tourism is booming in this tropical paradise. Actually that island nation/territory with the highest GDP is the Cayman Islands with an avearge income of $42,000 per person. Bermuda is a popular destination for holidays among American, Canadian and British citizens. It’s the Bahamas, with a GDP per capita of $21,280. However, it has currently slid down to number three on the list, as of 2019. The encouraging investment and tax policies of the country favor foreign investment in the region. The islands … Tourism boosts the Bahamian economy massively, accounting for 60% of GDP and providing employment for over half of the island's population. The people of this country enjoy fairly high standards of living. 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. It has the most expensive and powerful military on the planet — supposedly to defend the people. The British Virgin Islands is an overseas British territory, and British Virgin Islanders are British Overseas Territories citizens. The country has the Caribbean’s largest stock exchange. The Richest Countries In The Caribbean presently. 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. This list of Caribbean countries and dependent territories is sorted by the mid-year normalized demographic projections. Your email address will not be published. St Kitts and Nevis is also the smallest sovereign state by landmass, in the Western Hemisphere. That’s no surprise considering tourism is booming in this tropical paradise. 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. Answer Save. The country is famous all around the world for its mild climate and beautiful beaches. Lv 7. Although it is the smallest sovereign state in the western hemisphere, it has a booming economy, dominated by tourism, manufacturing, and agriculture. This is a list of Latin American and Caribbean countries by gross domestic … Gender-reveal party inventor wants 'stupid' trend to stop. St Martin is a bringing together of two territories of Saint-Martin ( French side)  and the Saint Maarten (Dutch side). Many foreign companies thus operate here of which nearly 50% are American companies. Belize. 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. Luxembourg (GDP per capita: $119,719) 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. Bolton slams Trump's 'incoherent' rant on military. It is the richest country in the Caribbean region by GDP per capita. According to their 2018 GDP ppp these are the top 10 richest islands in the Caribbean 2018 edition. The country has a per capita income of 34,899 USD, and the economy is mostly supported by tourism. what is the richest country in the caribbean? So what’s the “wealthiest” country in the Caribbean, according to GDP? THE Bahamas is the richest country in the Caribbean community ranked by gross national income per capita, according to a new report. 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. Without further ado, we now give you the top 10 richest countries in the Caribbean. The per capita income is 23,614. When it comes to countries however,  the picture is much broader. All countries have a stash of funds somewhere, but this does not always get to the people. The U.S. Virgin Islands are famous all around the world for their white sand beaches. The people of this country enjoy fairly high standards of living. Bermuda is a territory encompassing 181 islands. Colombia. 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. The country is a British overseas territory (BOT)  with a population of 23,000 USD. Inland and island countries in the Caribbean region, even if technically not in the Caribbean Sea itself, are included. With an estimated 5.7 million tourist arrivals in 2012, it is one of the most-visited Caribbean islands. 10. The Caribbean has produced many celebrities. 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. 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. Eight of the larger islands are connected by bridges, but the rest are accessible by boat. Bermuda is located in the Caribbean region but politically is an overseas territory administered by Britain. 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 64,103 USD, making it the second richest British territory. The per capita income of the country is   33,394 USD. This is one of the best places to set up your business or store money for the long term. Puerto Rico is not listed since it … Bermuda has 181 islands, the largest island is Main Island, sometimes called Bermuda. 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 Bahamas is also the third richest country in the Americas, following the United States and Canada. The island nation of Barbados is the world’s 53rd richest and the Caribbean’s second richest country in terms of GDP per capita. Here is the definitive list of the top 55 most affluent countries in the world, starting with the wealthiest country. Barbados. 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.. The country is rich in natural resources with its most profitable exports being minerals, oils, agricultural products, sugar, precious stones, etc. Such activities have a negative impact on Belize’s economy. The country has a population of close to 300,000 people and a per capita income of 16,357 USD. Custom World Map Most Popular: Richest Most Populated Largest Most Expensive Poorest Cleanest Richest People Fastest Top 10 Lists. Tourism boosts the Bahamian economy massively, accounting for 60% of GDP and providing employment for over half of the island’s population. In addition to being the wealthiest country in the Caribbean region, the twin-island nation of Trinidad and Tobago has one of … 10. With over 700 islands and cays, the Bahamas once took the top spot as the richest Caribbean country. List of the richest countries in the Caribbean. 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. 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 US boasts numerous mega stars like Jay-Z, Lady Gaga, Sting, 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. 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. 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. The Richest Caribbean Countries. The Bahamas is also the third richest country in the Americas, following the United States and Canada. The "L" Word. Favorite Answer. As of 2016, 75.9% of the national GDP is contributed by the services sector. Barbados is an island country located in the Lesser Antilles of the West Indies, which is in the Caribbean region of North America. The US boasts numerous mega stars like Jay-Z, Lady Gaga, Sting, 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. Some of them are millionaires and have a huge fan following worldwide. It has more than 600 billionaires, according to Forbes. Each island has its own famous sons and daughters. Bermuda’s two largest economic sectors are offshore insurance and tourism. However, it has currently slid down to number three on the list, as of 2019. Agriculture accounts for about 5 to 7% of the national GDP. The World Bank released its 2014 World Development Report report, which includes data on GDP per capita. Bahamas Is The Richest Country In the Caribbean. The Bahamas is also the third richest country in the Americas, following the United States and Canada. The per capita income is 25,000 USD. 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 per capita income is 29,493 USD. The country has an estimated population of 391,232 people. Costa Rica. The main industries are tourism, offshore company incorporation, and management, offshore banking, as well as insurance. The Bahamas economy is based on tourism and finance. The island nation of Barbados is the world’s 53rd richest and the Caribbean’s second richest country in terms of GDP per capita. 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