British Virgin Islands
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Quick Guide >Economy
Economy of the British Virgin Islands  

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





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