St. Vincent and the Grenadines

Made up of the island of St. Vincent and the northern Grenadines, a group of 32 smaller islands, this nation in the Caribbean Sea is a prominent tourism destination. The government actively advocates for foreign direct investment (FDI), particularly in job-creating and foreign exchange-earning industries. While tourism and agriculture remain the primary economic drivers of FDI, initiatives are also in place to encourage economic diversification to sectors such as international financial services, information and communication technologies, agro-processing, light manufacturing and renewable energy. Additionally, the country’s economy benefits from flexible regulations, a robust legal system and macroeconomic stability.

However, challenges persist. Entrepreneurial activity faces constraints due to limited access to financing, skilled labor shortages, and the high cost of imports related to transportation and limited economies of scale. Moreover, susceptibility to natural disasters such as hurricanes and the impacts of climate change pose risks to business operations and infrastructure.