The British Virgin Islands Economy

The British Virgin Islands have been one of the Caribbean islands to see great economic statbility and prosperity with a GDP per capita of $35,000.The British Virgin Islands owes it's economic success foremost to the Financial Services Commission and the tourism industry. The British Virgin Islands Financial Services (www.bvifsc.vg) Commission in 2006 registered some 774,000 offshore companies. The Independent Financial Services Commission some may say is the most important because it is accredited for accumulating over 50% of the Government revenue. On the other hand the tourism industy provides more employment and more local business cater to the tourism industry. Tourism in the British Virgin Islands is stronger than ever with about 820,766 tourists visiting the territory in 2005, that's 30 times the country's population. YEP that's alot. The tourist are a combination of cruiseship, yacht, villas, hotel, and other rented accommodations.

Agriculture and Iindustry account for only a small proportion of the islands' GDP. Agricultural produce includes fruit, vegetables, sugar cane, livestock and poultry, and industries include rum distillation, construction and boatbuilding.

Tourism Statistics

Provided by Development Planning Unit, Government of the BVI www.dpu.gov.vg	2001	2002	2003	2004e	2005e
HOLIDAY VISITORS	535,111	543,423	657,505	812,908	820,766re
Method:  (a)   By Air	144,425	134,690	153,391	220,239	220,116
(b)  By Sea	390,686	408,732	504,114	592,669	597,560
Type:    (a)  Overnight Visitors	295,625	281,696	317,758re	303,756	337,134re
(b)  Day Trippers	36,968	31,660	39,332	42,551	34,480re
(c)  Cruise-ship	202,518	230,067	300,415	466,601	449,152
(d) Not Stated	-	-	26,527
OVERNIGHT VISITORS	295,625	281,695	317,758re	303,756	334,543
Acc. (a)   Hotel	73,714	57,790	60,299re	85,096	94,447re
(b)   Charter Boat	180,542	177,005	212,251re	167,384	185,778re
(c)   Rented Accommodation	19,757	22,740	23,691re	27,549	30,576re
(d)   Own	154	409	74re	230	255re
(e)   Friends Acc.	21,457	23,751	21,443re	23,497	26,079re
TOURIST ARRIVAL BY COUNTRIES	535,111	543,423	657,503	812,908	820,766re
(a)  U.S.A	355,763	348,038	422,154	533,020	535,052
(b)  Canada	13,757	18,092	22,302	29,669	29,285
(c)  Europe	132,479	148,150	169,928	199,790	203,004
(d)  South America	5,366	4,433	4,623	7,549	7,447
(e) Caribbean	21,962	19,354	25,616	28,395	28,948
(f)  Rest of the World	5,370	4,666	5,622	7,446	7,457
(g) Not Stated	414	693	7,258	7,039	6,482
CRUISE SHIP CALLS	460re	319	533	642	612

e=estimate