Browne says manufacturing and services now contribute more to GDP.
Prime Minister Gaston Browne has announced plans for a new brewery and an expansion of the Antigua Distillery, supported by a recently approved loan through a public-private partnership with the government.
Speaking on his weekly Browne and Browne radio programme, Browne said the investment marks a significant step toward diversifying the economy and reducing reliance on tourism, which once contributed about 70 percent of GDP but now accounts for roughly 55 percent.
“In fact, from next year, we may have a beer factory,” Browne revealed. “A loan was just recently approved for the distillery—a partnership between the Antigua and Barbuda government and Antigua Distillery.”
He said the move reflects the success of ongoing efforts to broaden Antigua and Barbuda’s production base. “It’s not that tourism revenues have fallen—they’ve grown—but we’re doing other things. Banking is contributing more, manufacturing is contributing more, and even services like medical education and insurance are bringing in more money,” Browne stated.
According to the Prime Minister, this diversification has allowed the country to achieve record growth while maintaining fiscal surpluses and paying down debt. He said the manufacturing and service sectors are now major contributors to national output alongside tourism and the Citizenship by Investment Programme, which accounts for about 10 percent of GDP.
“This overall diversification is one of our greatest successes,” Browne said. “It shows that the Antiguan and Barbudan economy is growing not just in size but in structure, creating new opportunities and industries for our people.”
The Prime Minister added that similar joint ventures—such as those in agriculture, distilling, and financial services—are being encouraged to strengthen local ownership and participation in the economy.
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One of the dumbest thing government did was giving away wadadli which I believe was under UPP so I’m happy we are getting back a distillery and building something that isn’t a hotel for once.