The Top 10 Richest Caribbean Countries – Jamaica Drops To 11

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10. Grenada – $10, 928 GDP per capita

Grenada has a small, open economy that’s largely tourism-based. Approximately 69% of the island’s GDP emanates from the service industry.

Over the past twenty years, the economy has shifted from being dependent on agriculture to being dependent on the services.

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. Grenada has honed in on the rising demand for eco-tourism and provides a series of eco-friendly guesthouses. It also attracts visitors looking for beach and water sports holidays.

 

 

9. St Vincent and the Grenadines – $11, 047 GDP per capita

The island where The Pirates of the Caribbean was filmed does not gather its riches from gold-filled treasure chests, but from agriculture.

Bananas alone account for more than 60% of the work force, and 50% of merchandise exports.

Though this boosts the island’s GDP at the moment, reliance on this single crop makes the economy extremely vulnerable to external factors such as natural disasters and plant disease.

St Vincent and the Grenadines’ tourism industry is growing, though, as it’s a particularly attractive destination for yachting enthusiasts and golfers.

A new airport is currently under construction on the island to improve accessibility and encourage the stability of the tourism industry.

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