Economy
The main economic driver of Antigua and Barbuda is tourism, accounting for over half of the GDP. Agriculture is primarily for domestic consumption. There is also a small industrial sector, mainly producing export items such as bedding, handicrafts, and electronics. The offshore financial sector is also a significant economic sector. The American University of Antigua and the Antigua College of Medicine are also important contributors to the local economy. The government of Antigua and Barbuda is attempting to diversify its economy by attracting industries in transportation, communication, and finance to reduce its dependence on tourism.
Natural Resources Antigua and Barbuda have abundant natural resources, including rocks rich in potassium salt, which, when processed, can be used to produce fertilizers, contributing significantly to the local economy’s development. Additionally, there is a thriving confectionery and fruit industry, including bananas, pineapples, papayas, and mangoes, which are not only delicious but also rich in nutritional value. Besides serving as an agricultural and fishing base, the small island nation benefits economically from tourism, attracting visitors from around the world to vacation and relax amid the beautiful beaches, blue skies, and sunshine.