Antigua and Barbuda is one of the world’s smallest countries, but it is one of the Caribbean nations with the fastest industrialisation rates. Although the economy of Antigua relies more on its tourism and hospitality, its service-based economy has been picking up lately – thanks to its digital advancements and high-speed internet connection.
These developments cut across different spheres of the country’s sectors. As connectivity improves, more doors are opening to economic growth, placing the country on the global map. Let’s find out how the rise of fast internet is boosting Antigua’s online industry.
Internet connectivity and Antigua: the modern story
Despite its small size and population, Antigua and Barbuda gained independence over 40 years ago. Since then, the Caribbean island has put various measures in place to ensure that digital transformation is at the forefront of its development. As such, the government and different stakeholders in the private sector have combined efforts to boost its digital economy.
The Caribbean Digital Transformation Project (CARDTP) has been at the forefront of this digital evolution, increasing access to digital services, technologies and skills by governments, businesses and individuals. In recent years, we’ve seen Antigua embrace global technological innovations such as 5G technology, cryptocurrencies and blockchain technology, tele-education, telemedicine and many more.
Financial services and digital payments
One of the biggest beneficiaries of the tech advancements in Antigua is the country’s financial services industry. Online banking and mobile payments have experienced a facelift with better internet access. More startups are entering the financial technology (fintech) space, while many are exploring cryptocurrencies and blockchain technology for their improved security, faster transaction speed and lower fees.
Online gaming platforms also contribute to the adoption of these digital assets. More players can now access their favourite live casino games using their preferred cryptocurrencies, including Bitcoin, Ethereum, Tether and more.
Tourism
Tourism is the bedrock of Antigua’s economy. The country aims to break significant barriers in this sector with fast internet. Many hospitality businesses such as hotels and ride-hailing service providers can benefit from fast connectivity to improve their systems. Other establishments, such as resorts and restaurants, also attract more customers when they put their businesses out there.
There are also cashless payment options such as Apple Pay and Google Pay that use Near-Field Communication (NFC) technology to simplify online payments.
Antigua is also looking at implementing tech-backed solutions for border control. One notable example is the introduction of a paperless Embarkation/Disembarkation card (ED card) for non-citizens who visit Antigua. The paperless ED card initiative is still in its test phase at the time of writing, but it will modernise Antigua’s immigration process when fully implemented.
Tele-education
The world continues to embrace online education and Antigua is on the same path. The availability of high-speed internet in the country has allowed more schools to go digital with their curriculums and programs to improve accessibility. It is now possible for anyone anywhere to access online courses offered by universities and other institutions on the island.
Moreover, Antiguans can join platforms and access international curriculums or earn foreign degrees without having to leave the island. Citizens can create and sell various educational materials about Antigua and its culture to online visitors, or publish digital books.
Remote work and digital nomadism
Antigua is also a top choice for remote workers and digital nomads who prefer to travel and work. The country has a digital nomad visa to help professionals enter the country easily. A stable internet connection is one of the few things that digital nomads look out for when they choose a country to visit. When more people choose to base themselves in the country, it creates an additional source of revenue and boosts its popularity among digital economy workers.
Global business operations
It’s no longer business as usual in Antigua, due to the growth of the country’s access to high-speed internet. Businesses can use fast connections to boost their digital activities by making their products and services borderless. An example is Antiguan vendors who can instantly receive payments for their goods or services from anywhere worldwide, due to the availability of cross-border digital payment solutions.
They can also list their products on global e-commerce marketplaces and boost their visibility, while taking advantage of the power of social media and how it contributes to the profitability of every business.
Final thoughts
Every economy feels the effects of fast internet access on individuals and their local businesses. Antigua is no different. The country’s government and private organizations have implemented various innovations to take advantage of its high-speed internet. These developments empower entrepreneurs and connect them locally and across various international platforms.
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