Saint Vincent and the Grenadines (SVG) is set to be one of the Caribbean’s fastest-growing economies in 2025, according to Finance Minister Camillo Gonsalves.
In a recent Facebook post, Gonsalves highlighted projections from the International Monetary Fund (IMF) and the Economic Commission for Latin America and the Caribbean (ECLAC), which rank SVG as either the second- or third-best performing economy in the region, excluding Guyana.
The growth is expected to be driven by a surge in tourism, increased construction activity, and a rebound in agriculture. The minister also pointed to significant economic expansion in recent years, with the country’s GDP rising from $2.4 billion in 2021 to $3.1 billion in 2024—a 25% increase. This milestone marks the first time SVG’s economy has surpassed $3 billion, pushing the nation further into the World Bank’s “upper middle income” classification, with a per capita GDP now exceeding $27,000.
The positive economic outlook signals continued progress for SVG as it recovers from past challenges and builds on sustained growth.
