Summary of Private Sector Development in the Caribbean

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Private Sector Development in the Caribbean summary
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7

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  • Innovative

Recommendation

While visitors may find the Caribbean inviting, businesses know the region’s economic environment is anything but. Expensive and erratic power supplies, a dependence on tourism, governments as outsized employers, a dearth of private sector investment, and inefficient labor markets make for inauspicious growth conditions. This wide-ranging overview from the Economist Intelligence Unit offers a good primer on the area’s economic problems and prospects. getAbstract recommends it to executives looking at the region’s potential, as well as to tourists, who rarely get to glimpse beyond the swaying palm trees and crystalline waters of the Caribbean.

About the Author

The Economist Intelligence Unit is an independent research and analysis organization.

 

Summary

At 1.1% for 2014 and an estimated 1.7% for 2015, the Caribbean’s economic growth is languishing, especially in nations relying on tourism: Antigua and Barbuda, the Bahamas, Barbados, Dominica, Dominican Republic, Grenada, Jamaica, St. Lucia, St. Kitts and Nevis, and St. Vincent and the Grenadines. Competition from the Pacific islands has risen, while the United States’ rapprochement with Cuba adds a new rival for tourism dollars. Prospects are somewhat brighter for the region’s commodity exporters – Belize, Guyana, Suriname, and Trinidad and Tobago – with 2014 average growth of 2.7...


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