Construction Sector Contributed $900 Million to Antigua and Barbuda’s Economy in 2024

Construction Sector Contributed $900 Million to Antigua and Barbuda’s Economy in 2024

The construction sector in Antigua and Barbuda has emerged as a key driver of economic growth, contributing a record $900 million to the national economy in 2024. Prime Minister Gaston Browne highlighted this achievement during his 2025 Budget presentation, attributing the sector’s strong performance to major public and private sector projects.

“The construction industry continues to play a crucial role in our economy,” Browne said. “Its growth underscores the confidence of investors in our nation’s future and demonstrates the resilience of our economic strategies.”

The significant contribution from the construction sector was fueled by multiple private sector projects, including the development of Airbnb properties and the establishment of the international franchise restaurant, The Hut, on Little Jumby Bay. Several hotel renovations also played a pivotal role, with properties such as Hermitage Bay Resort, Carlisle Bay Resort, and the completion of the Royalton Chic Hotel adding to the sector’s success.

The ongoing Paradise Found and PLH projects in Barbuda were also major contributors, creating employment and business opportunities for thousands of citizens and residents. In addition, data from the Development Control Authority (DCA) indicated a surge in residential and commercial property construction and renovations, with a 14% increase in applications valued at $464 million.

“This performance is a clear reflection of the construction sector’s impact on both economic growth and job creation,” Browne noted.

Public sector investments in infrastructure and housing also supported the sector’s growth. Major housing projects, such as the Booby Alley Housing Development and the Louis Hill Housing Project in Barbuda, were key contributors. These projects align with the government’s goal of providing affordable, climate-resilient homes for citizens.

Road rehabilitation and other infrastructure initiatives, backed by funding from the Caribbean Development Bank (CDB), further bolstered the sector’s performance. “Investments in infrastructure are vital to our nation’s progress, creating jobs and enhancing connectivity across Antigua and Barbuda,” Browne emphasized.

The construction sector’s $900 million contribution not only boosted GDP but also had a ripple effect on other areas of the economy. From suppliers of construction materials to small businesses providing ancillary services, the sector supported a wide range of industries. Additionally, the surge in construction activity increased government revenues through property taxes and other related fees.

“This means that the wealth of our nation is being enhanced, and more resources are available to finance further development,” Browne said.

With numerous projects scheduled to commence in 2025, including luxury hotel developments such as One & Only at Half Moon Bay and Rosewood Barbuda, the construction sector is expected to maintain its momentum. The government has also committed to expanding housing initiatives through the National Housing and Urban Renewal Company and the Central Housing and Planning Authority.

Prime Minister Browne expressed confidence in the sector’s continued growth, stating, “There is no denying that our country is securely on the path to becoming an economic powerhouse. The construction sector will remain a cornerstone of this progress.”

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