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US Report: Antigua’s Growth Resilient but Reforms Needed
While the IMF projections reflect resilience in the face of global pressures, a U.S. report emphasized that sustaining growth will require continued reforms, investment diversification, and measures to reduce fiscal and climate-related risks.
The 2025 Investment Climate Statement, released in September by the U.S. Department of State, cited International Monetary Fund estimates showing that Antigua and Barbuda’s economy expanded by 4.3 percent in 2024.
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Growth was driven primarily by tourism and related services, alongside contributions from yachting, agriculture, and business process outsourcing.
Despite the strong performance, the report stressed that Antigua and Barbuda remains vulnerable to external shocks, including supply chain disruptions, natural disasters, and global downturns.
With tourism as its largest foreign exchange earner and employer, the country faces exposure to fluctuations in international travel demand.
The government has turned to the Antigua and Barbuda Investment Authority (ABIA) to encourage foreign direct investment, particularly in priority areas such as renewable energy, agro-processing, and infrastructure.
Foreign investors are allowed full ownership of businesses, and initiatives like the Nomad Digital Residence Visa have been introduced to attract remote workers and high-net-worth individuals.
According to the report, these efforts reflect the government’s strategy to diversify income sources and improve resilience, but long-term stability will depend on implementing reforms that address fiscal sustainability and climate-related vulnerabilities.
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