Caribbean Economy Projected To Grow This Year Despite Pandemic

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Exceerpt from News Americas

The Caribbean’s economy is projected to grow this year despite the beating its tourism sector has taken this past year due to the pandemic.

That’s the word from the World Bank in its June 2021 Global Economic Prospects.

The Bank forecasts an increase in economic activity of 4.7 percent this year.

“In the Caribbean, where COVID-19 caseloads have been relatively low, growth is anticipated to expand 4.7%, although the outlook for most tourism-reliant economies has been revised downward since January with the recovery in tourism still sluggish,” the Bank said.

The report forecasts the highest growth of 23 percent, however, for Guyana with other Caribbean countries lagging far behind.

St. Lucia, with a projected 8.1 percent growth, ranks second while St. Vincent and the Grenadines, despite the hit it has taken from the La Soufriere volcano, is forecast to grow by 6.1 percent this year, according to the report, the third highest in the region.

The growth for the Dominican Republic and Barbados is forecast at 4.8 percent, the fourth highest regionally.

Here’s where other Caribbean countries rank, according to the report:

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