Antigua and Barbuda

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Antigua and Barbuda business is largely dependent on the tourism industry. Tourism (and the construction industry benefiting from it), accounts for over half of the island nation’s GDP. Investment banking and financial services also make up an important part of the economy. Major institutions with offices in Antigua and Barbuda include the Bank of America (Bank of Antigua), Barclays, the Royal Bank of Canada (RBC), Scotia Bank and PriceWaterhouseCoopers. The nation’s agricultural producers are largely focused on the domestic market and are constrained by a limited water supply and a labour shortage stemming from the lure of higher wages in tourism and construction. The American University of Antigua College of Medicine (founded in 2003), with an enrollment of approximately 1000 students, also creates employment and benefits local businesses. Finally, manufacturing comprises enclave-type assembly for export with major products being bedding, handicrafts, and electronic components.

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