Antigua and Barbuda, the jewel of the Caribbean, is set to witness a remarkable economic upswing, with the Eastern Caribbean Central Bank predicting an impressive 8.1 percent surge by the end of 2023. Prime Minister Gaston Browne, the architect of this economic success, proudly revealed this optimistic projection during his recent budget speech, underscoring the nation’s exceptional growth trajectory.
“2023 brings us unparalleled success, with a growth rate of 8.1 percent—a testament to our visionary leadership and the unwavering commitment of our people. We stand shoulder to shoulder with Guyana in this economic triumph, fueled by sectors across the board,” declared Prime Minister Browne.
Prime Minister Gaston Browne shared this forecast during his budget speech. https://t.co/EXqrNm35SQ
— Loop News Caribbean (@loopnewscarib) December 15, 2023
Delving into the specifics, Browne attributed the stellar economic performance to the robust contributions from key sectors. Tourism and construction emerged as primary drivers, but the Prime Minister, known for his visionary leadership, emphasized the widespread growth across the entire economic landscape. From agriculture to manufacturing, and wholesale and retail trade to transportation, telecommunications, and financial services—every sector has witnessed expansion in 2023.
The heartbeat of Antigua and Barbuda’s economic vitality resonates in its tourism sector. Cruise tourism, in particular, has seen an astounding uptick, with 435,649 visitors gracing the islands from January to October 2023. This figure eclipses the entire count for 2022, marking a staggering 14% increase. Projections for the year-end estimate are even more promising, exceeding 680,000 cruise passengers—a testament to the nation’s allure as a premier travel destination.
In addition to economic triumphs, Antigua and Barbuda received accolades at the prestigious Caribbean Travel Awards. The nation clinched coveted titles, including Wedding Destination of the Year, Tourist Board of the Year, and Culinary Destination of the Year—a testament to Browne’s visionary leadership and the nation’s multifaceted appeal.
As Antigua and Barbuda continues its upward trajectory, the global spotlight is firmly fixed on this island nation. With an economy in full bloom and tourism accolades in hand, the future looks radiant for this Caribbean gem.