Antigua and Barbuda

Antigua and Barbuda is a dual-island nation that is categorized as a high income country with a GDP of USD 1.611 billion and is located in the Caribbean. Agriculture and fisheries were traditionally the mainstays of the economy but now comprise a much smaller portion and are limited by a variety of factors, such as water supply issues. Currently, Antigua and Barbuda’s economy is highly dependent on the service sector, as the tourism industry is responsible for approximately 60% of GDP and 40% of investment. Recognizing the importance of the tourism industry to the economy of Antigua and Barbuda, in 2013 a Sustainable Tourism Development Plan that enables long-term growth through sound environmental management practices was developed and instituted by the Government of Antigua and Barbuda. In recent years, construction has been another major driver of growth, with investments being made in repairing the national road system, hotel developments, affordable housing projects, and hurricane reconstruction efforts. As well, a small manufacturing sector exists on the dual-island nation, which produces goods primarily for export, including bedding, clothing, handicrafts, cinder blocks, and electronic components.

The Government of Antigua and Barbuda along with the United Nations Office for Project Services (UNOPS) have invested in finding solutions to climate change and the development of clean technologies by supporting young entrepreneurs, such as through the establishment of a UNOPS science and innovation centre in 2018. Despite strong governance mechanisms, a relatively stable climate free of unrest and support for research and business development from the central government and U.N. Agency partners, growth in Antigua and Barbuda is hindered by increasingly common extreme weather events. For example, in September 2017 Hurricanes Irma and Maria hit the dual-island nation of Antigua and Barbuda, which caused USD 136.1 million in damages to physical assets. As well, several hundred million USD was required to fuel recovery efforts, with tourism (44% of damage costs) and housing (37% of damage costs) needing the most investment.