By Oishimaya Sen Nag on February 1 2018 in Economics. The sector accounts for over 60% of the national GDP and employs nearly 50% of the national workforce. Here is the definitive list of the top 55 most affluent countries in the world, starting with the wealthiest country. According to their 2018 GDP ppp these are the top 10 richest islands in the Caribbean 2018 edition. 10. OFFICIAL FORBES LIST: 2017 Top 10 Richest Countries in the Caribbean. From there, you can determine which states are wealthiest and then list the countries in descending order, from richest to poorest. The "L" Word. The country has a population of 15,000. The Bahamas is made up of more than 700 islands, cays, and islets, and is located just north of Cuba, in the Atlantic Ocean. Enter your e-mail address: Bermuda’s economy is boosted by 2 major sectors: offshore insurance and tourism. 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. 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 Bahamas is also the third richest country in the Americas, following the United States and Canada. GDP is the monetary value of all the finished goods and services produced within a country's borders in a specific … Gender-reveal party inventor wants 'stupid' trend to stop. The country’s people have a per capita income of 85,748 US Dollars. Custom World Map Most Popular: Richest Most Populated Largest Most Expensive Poorest Cleanest Richest People Fastest Top 10 Lists. With an estimated 5.7 million tourist arrivals in 2012, it is one of the most-visited Caribbean islands. 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 … By the Caribbean Journal staff. The country has a population of 104,000, and these are not poor people. Relevance. There are no income tax, capital gains tax, or corporation tax. The islands … Colombia is the fifth most prosperous economy in the Caribbean region. 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. Bermuda has 181 islands, the largest island is Main Island, sometimes called Bermuda. Some of them are millionaires and have a huge fan following worldwide. So what’s the “wealthiest” country in the Caribbean, according to GDP? Let’s see the top 10 richest Caribbean celebrities as of 2019, based on Celebrity Net Worth’s estimates. The country relies heavily on the export revenue earned by the export of petroleum and oil, and agricultural products. Although historically, agriculture was the mainstay of the economy of Barbados, the focus has currently shifted to tourism and manufacturing. The building construction industry is also thriving in Barbados. Top 10 Richest Celebrities in the Caribbean. However, it has currently slid down to number three on the list, as of 2019. With over 700 islands and cays, the Bahamas once took the top spot as the richest Caribbean country. The country has a per capita income of 64,103 USD, making it the second richest British territory. 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 Bahamas economy is based on tourism and finance. The industrial and the agricultural sector contribute about 18.6% and 5.5% to the national GDP of Costa Rica. The official name of the country is the “Virgin Islands”, but the prefix “British” is often used. 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 with a gross national income (GNI) of US$21, 280, is one of the richest countries in the Americas. Eight of the larger islands are connected by bridges, and are the populated islands Bermuda became an associate … The Bahamas is also the third richest country in the Americas, following the United States and Canada. The British Virgin Islands is an overseas British territory, and British Virgin Islanders are British Overseas Territories citizens. The Bahamas. This used to be home to the British sugar cane plantations. 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. Tourism boosts the Bahamian economy massively, accounting for 60% of GDP and providing employment for over half of the island’s population. The islands have a population of 64,000 people, and they are not poor people. About 85% of the territory’s workforce was engaged in the tourist industry. They have the highest GDP in the Caribbean and the 8th highest in the world. All countries have a stash of funds somewhere, but this does not always get to the people. The country has the Caribbean’s largest stock exchange. 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. Required fields are marked *. Let’s see the top 10 richest Caribbean celebrities as of 2019, based on Celebrity Net Worth’s estimates. With over 700 islands and cays, the Bahamas once took the top spot as the richest Caribbean country. The main industry of the island is tourism with over one million visitors annually. The per capita income is 25,000 USD. 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. St Kitts and Nevis is also the smallest sovereign state by landmass, in the Western Hemisphere. The construction business and tourism sector are the fastest growing industries in the country. Trinidad and Tobago . The Bahamas with a gross national income (GNI) of US$21, 280, is one of the richest countries in the Americas. 10. The Cayman Islands is a group of small islands located in the Caribbean region. The Richest Countries In The Caribbean presently. Bermuda is a popular destination for holidays among American, Canadian and British citizens. The defense is the responsibility of the United Kingdom. Industrial mineral production in the country is also an important economic activity. 3. 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. Many foreign companies thus operate here of which nearly 50% are American companies. The country is famous all around the world for its mild climate and beautiful beaches. The US boasts numerous mega stars like Jay-Z, Lady Gaga, Sting, 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. Favorite Answer. St Kitts depends on tourism, agriculture, and light manufacturing industries. Notify me of follow-up comments by email. 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 World Bank released its 2014 World Development Report report, which includes data on GDP per capita. 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. nearly 2.5 million tourists per year visit USVI, most arriving on cruise ships from the United States. The British Virgin Islands (BVI),  otherwise simply known as “Virgin Islands”, are a cluster of small islands, near the USVI. Although historically, agriculture was the mainstay of the economy of Barbados, the focus has currently shifted to tourism and manufacturing. It is located to the north of Cuba in the Atlantic Ocean. The country has a per capita income of 34,899 USD, and the economy is mostly supported by tourism. List of the richest countries in the Caribbean. This is probably the best place to set up your company or stash your money for the long term. It is mainly a private enterprise economy. This is one of the best places to set up your business or store money for the long term. Such activities have a negative impact on Belize’s economy. The rankings are based on each country's Gross Gross Domestic Product (GDP) per capita. The most important economic sector is banking; the Bahamas is a great place to keep your money. The country attracts over half a million visitors every year, and most of them ( 80%) are from the United States. Entertainment: Highest Grossing Movies Top iTunes Songs Top Selling Games Top Rated TV Shows » More. Sports: Top Pro Golfers Top Pro Tennis Players Top Formula One Drivers Highest Paid NBA Players » More It has more than 600 billionaires, according to Forbes. The country has a population of close to 300,000 people and a per capita income of 16,357 USD. Puerto Rico is not listed since it … The Richest Caribbean Countries. The country is a British overseas territory (BOT)  with a population of 23,000 USD. The people of this country enjoy fairly high standards of living. With an estimated 5.7 million tourist arrivals in 2012, it is one of the most-visited Caribbean islands. Top 10 Richest List, Interesting Rankings Hub. The economy of the nation is small but thriving. We answer some questions from the comments and discuss why Guyana will become the richest country in the Caribbean. Costa Rica. The economy is dependent on tourism and the country is a major offshore financial center with the US dollar used as the primary currency. British Virgin Islands (BVI) are made up of 4 big islands, and 32 smaller islands. The generally accepted measure of a country’s wealth, therefore, is the standard of life of the people. The encouraging investment and tax policies of the country favor foreign investment in the region. 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. 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. The island nation of Barbados is the world’s 53rd richest and the Caribbean’s second richest country in terms of GDP per capita. So what is the richest country in the Caribbean … The main industries are tourism, offshore company incorporation, and management, offshore banking, as well as insurance. 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. By the Caribbean Journal staff. 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. https://www.newsamericasnow.com/meet-the-caribbeans-only-billionaires Located in Central America, Costa Rica is the Caribbean region's fourth richest economy by GDP per capita. Belize. This is a highly developed and rich country. Each island has its own famous sons and daughters. 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. US Virgin Islands are a group of islands in the Caribbean, which are controlled by the government of the United States. Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window). The country is rich in natural resources with its most profitable exports being minerals, oils, agricultural products, sugar, precious stones, etc. 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. Bermuda is located in the Caribbean region but politically is an overseas territory administered by Britain. Top 10 Richest Cities In The California 2020. This is a list of Latin American and Caribbean countries by gross domestic … 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 per capita income is 17,924 USD. Looking at Luxembourg in particular, the GDP of the country in 2017 was 107,053 USD. The largest is called Main Island, or sometimes just Bermuda. Eight of the larger islands are connected by bridges, but the rest are accessible by boat. Colombia. How Trump's billion-dollar campaign lost cash advantage Lv 7. Anguilla is a self-governing country but is technically an overseas territory of the United Kingdom. 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. 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 Bahamas is also the third richest country in the Americas, following the United States and Canada. Bermuda’s two largest economic sectors are offshore insurance and tourism. Top 10 Richest Celebrities in the Caribbean. 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. It has a population of 71,000 people, and these are not poor people. Tourism boosts the Bahamian economy massively, accounting for 60% of GDP and providing employment for over half of the island's population. The US boasts numerous mega stars like Jay-Z, Lady Gaga, Sting, Actually that island nation/territory with the highest GDP is the Cayman Islands with an avearge income of $42,000 per person. The economy of the country relies heavily on the tourism industry. The Bahamas is an archipelagic country made up of over 700 islands, islets, and cays. Barbados. The U.S. Virgin Islands are famous all around the world for their white sand beaches. When it comes to countries however,  the picture is much broader. Major crops grown in the country include onions, tomatoes, sugar cane, sweet potatoes, okra, and a few others. The World Bank released its 2014 World Development Report report, which includes data on GDP per capita. Barbados is an island country located in the Lesser Antilles of the West Indies, which is in the Caribbean region of North America. Many of the tourists come by sea, already enjoying the waters and beaches before they are booked in as tourists. 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 Turks and Caicos Islands are a small group of islands in the Caribbean. 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. Bolton slams Trump's 'incoherent' rant on military. It has the most expensive and powerful military on the planet — supposedly to defend the people. 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 Caribbean has produced many celebrities. GDP per capita: $18,148.24 If you’re a fan of island life, Barbados is a great place to vacation. In Sint Maarten, the World Bank manages a reconstruction and resilience trust fund financed by the Netherlands.. The fifth richest Caribbean country in 2019, St. Kitts and Nevis, has a GDP of 31,095. The Bahamas is followed by … The economy of the country can be described as fairly stable with moderate rates of inflation and a fairly high rate of GDP growth. It is the richest country in the Caribbean region by GDP per capita. As of 2016, 75.9% of the national GDP is contributed by the services sector. The country has an estimated population of 391,232 people. The fishing industry is also doing well. The World Bank in its 2014 World Development Report, noted that oil-rich Trinidad and Tobago with a GNI of US$14, 440 is one of the wealthiest and well-developed nations in the Caribbean. Haiti which has been a troubled nation since the deadly earthquake in 2010 is the poorest country with a GDP per capita of US$ 874. The per capita income is 29,493 USD. THE Bahamas is the richest country in the Caribbean community ranked by gross national income per capita, according to a new report. That’s no surprise considering tourism is booming in this tropical paradise. Banking and other financial services are the second biggest contributor to the Bahamian economy, accounting for about 15% of the GDP. Some of them are millionaires and have a huge fan following worldwide. It’s the Bahamas, with a GDP per capita of $21,280. This will then translate into upliftment in other areas of life, including healthcare, education, a better living environment and so on. Bermuda has no corporate taxes. The country’s economy can be described as a well-developed mixed type economy. Your email address will not be published. They are the same people but were colonized by those 2 European superpowers. That’s no surprise considering tourism is booming in this tropical paradise. The people of this country enjoy fairly high standards of living. 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