When you think of the Caribbean region, you dream of palm trees, white sand beaches, and laid-back island life. But have you ever wondered how rich these countries are? Well, compared to the world’s richest continents, the Caribbean region actually does not give so much of a richness while raising over $368.188 billion, accounting for 0.32% of the world’s total GDP. So, which Caribbean countries stand as the richest? In this article, we revealed the top 10 countries in 2025.
What You Will Find in This Article
What are the Richest Countries in the Caribbean Nations in 2025?
What makes a country rich? There are several indicators that are used while determining the wealth of a country. These are mostly GDP (Gross Domestic Product), GNI (Gross National Income), and PPP (Purchasing Power Parity).
Below, you can see the top 10 richest countries in the Caribbean by GDP in 2025.
1. Cuba
- GDP: $201.99 Bn
- Population: 10.98 million
Although it is not the richest country in the world, Cuba is the largest and richest country in the Caribbean, with a GDP per capita of $201.99 billion in 2023, according to the World Bank Group’s data. However, the country is classified as a middle-income country. Its economy is mostly based on services, tourism, healthcare, mining, pharmaceuticals, and biotechnology.
The government’s approach is socialist, having too much power over the private sector, limiting market competition and innovation. This centralization of state control can lead to inefficiencies and stifled growth in key industries. As a result of this, Cuba has become dependent on external support, such as oil from Venezuela and financial aid from international organizations.
Despite these, Cuba ranks well in the Human Development Index thanks to its free government services such as education and healthcare, with a 0.762 HDI value in 2023.
2. Dominican Republic
- GDP: $127.83
- Population: 11.43 million
Located in the West Indies, the Dominican Republic is one of the largest economies among the Caribbean islands. It is considered an upper-middle-class country. It owes its fast-growing economy to the tourism industry. The charm of the country has drawn many visitors from all over the world. Accordingly, it is one of the most preferred and cheapest Caribbean countries to live in.
At the same time, the diversification of economic activities in various sectors helps the Dominican Republic to be seen as one of the fastest-growing economies in the Caribbean. Confirming that the GDP for 2025 is estimated to be around 136.300 by the International Monetary Fund, showing a 7.02% increase compared to 2024.
3. Puerto Rico
- GDP: $122.52 Bn
- Population: 3.203 million
Puerto Rico is classified as a high-income economy by the World Bank, which makes it unique among many Caribbean nations. Despite this, it has been in a prolonged economic depression since 2006, with high unemployment, poverty, and public debt. It makes most of its money from factories that produce medicines, clothes, chemicals, and electronics, and from services like banks, insurance, real estate, and tourism.
What makes it different is that it is a US territory, so American laws, taxes, and rules affect its economy a lot. Moreover, it also depends on imports for food and materials, has high debt, and is easily hurt by hurricanes or changes in the world economy.
4. The Bahamas
- GDP: $15.18 Bn
- Population: 401,283
Belonging to the Caribbean community, The Bahamas is often known as the richest Caribbean Island per capita. Its economy is dominated by tourism. Confirming that, it accounts for about 50% of the GDP and is a major source of employment. Mostly, around 80% of visitors are US citizens, making it dependent on the US economy.
The country also performs as one of the world’s best offshore financial centers, contributing about 15-20% of GDP. Its favorable regulatory environment, tax incentives, and business-friendly policies have attracted numerous international businesses and financial entities. However, it faces growing scrutiny over its transparency in financial practices, especially with the European Union and Financial Action Task Force (FATF).
5. Cayman Islands
- GDP: $7.13 Bn
- Population: 74,457
As a British Overseas Territory, the Cayman Islands possesses one of the highest GDP per capita in the Caribbean. It uses the Cayman Islands dollar as currency. The country’s economy is heavily dependent on two pillars: tourism and financial services, accounting for 50-60% of the country’s total GDP.
When it comes to financial services, it can be inferred that the tax-free status of the Cayman Islands makes it a key player in global finance. The country does not tax you on your income, corporate, or capital gains tax. Additionally, it is home to the world’s largest hedge fund jurisdiction, the Cayman Islands Stock Exchange.
Tourism is another cornerstone of the economy, corresponding to around 75% of foreign currency earnings. It offers its international visitors high-end experiences like scuba diving and deep-sea fishing
6. Belize
- GDP: $3.61 Bn
- Population: 417,072
Belize’s economy is small and depends a lot on just a few things. The main industries are farming, tourism, and services. The country used to rely heavily on logging for things like mahogany, but now agriculture and tourism are more important.
Like many Caribbean states, Belize is also considered a tax haven, which means people and businesses from other countries like to invest there. However, the country’s economy is sensitive to world market changes, like the price of sugar or how many of tourists visiting.
7. Saint Lucia
- GDP: $2.63 Bn
- Population: 179,744
Among the wealthiest Caribbean Islands, St Lucia stands out with its economic transformation from a single-crop agricultural system into a diverse and service-based economy. Previously, the country’s economy was based on agriculture, mostly banana production. Currently, tourism is the island’s primary sector, accounting for approximately 65% of the GDP. Meanwhile, the service sector accounts for over 84% of GDP.
Additionally, the manufacturing sector plays a key role in the country’s economic wealth due to being the most diverse and well-developed manufacturing industry in the eastern Caribbean.
Saint Lucia also gets foreign investment in various sectors, particularly through St Lucia Citizenship by Investment scheme. By donating only $240,000 to the National Economic Fund, investors can get St Lucia passport within 12–15 months. Thanks to this program, St Lucia draws more foreign capital and promotes infrastructure development.
8. Antigua and Barbuda
- GDP: $2.37 Bn
- Population: 93,772
Like any richest Caribbean countries, Antigua and Barbuda’s economy is heavily dependent on tourism, which contributes more than half of the GDP. However, the government faces challenges, such as vulnerability to natural disasters and a reliance on external markets like the US for tourism. To overcome these challenges, Antigua and Barbuda tries to diversify its economy in various sectors like transportation, communications, and financial services.
Tourism is the backbone of Antigua and Barbuda’s economy, with most visitors coming from the US and British citizens. However, as we mentioned before, it is prone to natural disasters, especially hurricanes.
Similar to the Cayman Islands, it also has a reputation of being an offshore financial center, due to its favorable regulatory environment. Besides, the Antigua and Barbuda citizenship program adds a unique dimension to its economy. Within the framework of it, Antigua and Barbuda offers a second passport for foreign investors in exchange for a minimum contribution of $230,000.
9. British Virgin Islands
- GDP: $1.51 Bn
- Population: 39,471
Like the Cayman Islands, the British Virgin Islands’ residents are British Overseas Territory citizens. But what makes this country’s economy so unique among the Caribbean islands? Well, it is due to its extremely high GDP per capita relative to its small population. Confirming that BVI ranks 19th globally in GDP per capita.
The British Virgin Islands is also an offshore financial services provider. It offers company incorporations, investment funds, and trusts, primarily catering to international clients. On the other hand, tourism is the second largest contributor to the country’s economy. However, the agricultural sector is minimal, and its economy is mostly vulnerable to external impacts such as global recessions or natural disasters.
10. St Kitts and Nevis
- GDP: $1.13 Bn
- Population: 46,843
Considering the richest Caribbean countries, Saint Kitts and Nevis successfully transformed its sugarcane-dominated economy to a more diversified economy. Historically, the country has been dependent on sugar. In 2005, it ceased sugar production due to the decline in global sugar prices.
Tourism now plays a central role in St Kitts and Nevis’s economy. Plus sectors like manufacturing, electronics, and garment assembly have proved themselves as an alternative. On the other hand, agriculture remains limited while protecting its importance among locals.
To attract foreign direct investment, the government offers the St Kitts and Nevis Citizenship program, the oldest and most famous one in the Caribbean. Investors can make a $250.000 donation to the Sustainable Island State Contribution or purchase real estate in approved developments for at least $325,000.
Top 20 Richest Caribbean Islands
Below, you will find the richest Caribbean Countries in 2025 per GDP. According to this fresh data, it can be said that the richest Caribbean country is Cuba, followed by the Dominican Republic, Puerto Rico, and Haiti.
|
Rank |
Country / Territory |
GDP (Nominal) |
|
1 |
Cuba |
$201.99 Bn |
|
2 |
Dominican Republic |
$127.83 Bn |
|
3 |
Puerto Rico |
$122.52 Bn |
|
4 |
Haiti |
$33.55 Bn |
|
5 |
Trinidad and Tobago |
$26.47 Bn |
|
6 |
Guyana |
$25.82 Bn |
|
7 |
Jamaica |
$21.41 Bn |
|
8 |
Bahamas |
$15.18 Bn |
|
9 |
Barbados |
$7.55 Bn |
|
10 |
Cayman Islands |
$7.13 Bn |
|
11 |
Suriname |
$4.51 Bn |
|
12 |
Aruba |
$4.10 Bn |
|
13 |
Belize |
$3.61 Bn |
|
14 |
Curacao |
$3.28 Bn |
|
15 |
Sint Maarten |
$1.68 Bn |
|
16 |
Saint Lucia |
$2.63 Bn |
|
17 |
Antigua and Barbuda |
$2.37 Bn |
|
18 |
Grenada |
$1.46 Bn |
|
19 |
Saint Vincent and the Grenadines |
$1.24 Bn |
|
20 |
British Virgin Islands |
$1.51 Bn |
Frequently Asked Questions on the Wealthiest Countries in the Caribbean
What is the billionaire island in the Caribbean?
St. Barts is often referred to as the billionaire island in the Caribbean. It attracts the world’s wealthiest with its exclusive resorts, luxury yachts, and high-end shopping.
Where do the wealthy live in the Caribbean?
They are often found in exclusive destinations like St. Barts, Turks and Caicos, Anguilla, and the British Virgin Islands, where privacy and luxury are prioritized.
What is the most luxurious island in the Caribbean?
St. Barts is considered the most luxurious island in the Caribbean. It is mostly famous for its high-end hotels, fine dining, and elite clientele seeking privacy and opulence.
What is the poorest Caribbean island?
Haiti is the poorest country in the Caribbean. It faces significant challenges with poverty, political instability, and limited infrastructure development.
