The Caribbean: Tourism and Offshore Finance

How Caribbean islands rely on tourism and offshore financial services, citizenship-by-investment programmes, and the region's exposure to hurricanes and debt.

The Caribbean includes dozens of island economies.

Tourism

Many islands, like the Bahamas, Barbados and Jamaica, rely on tourism and cruise ships.

Offshore finance

Islands like the Cayman Islands, British Virgin Islands and Bermuda host huge offshore financial sectors with low taxes.
They attract company registrations, funds and wealth.

Citizenship by investment

Countries like St Kitts and Nevis and Dominica sell citizenship to investors for a donation or investment.
It brings revenue but faces criticism over security.

Hurricanes

Hurricane Maria (2017) devastated Dominica, causing damage worth over 200 percent of its GDP.
Recovery costs strain budgets.

Debt

Many Caribbean countries have high debt, partly from disaster recovery.

The Bridgetown Initiative

Barbados’s PM Mia Mottley proposed reforms to global finance to help climate-vulnerable countries.

The cruise day

A cruise ship docks in the Bahamas, and thousands of passengers spend a day shopping and touring before sailing on.

Thinking Caribbean economies are only beaches

Offshore finance and citizenship sales matter too.

Key takeaways

Caribbean islands rely on tourism.
Some host huge offshore financial sectors.
Some sell citizenship to investors.
Hurricanes like Maria (2017) cause massive damage.