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Economy of Anguilla

The economy of Anguilla, which has few natural resources, depends heavily on luxury tourism, offshore banking, lobster fishing, and remittances from emigrants. Due to its small size and reliance on tourism and foreign direct investment, Anguilla is vulnerable to external economic conditions in the United States and Europe. Therefore, economic growth in Anguilla can be very volatile.

Sector

Industry

Major industries in Anguilla include tourism, boat building, and offshore financial services. In 1997 there was an industrial production growth rate of 3.1%.

42.6 GWh of electricity are consumed, produced entirely by fossil fuel.

Agricultural products include small quantities of tobacco, vegetables, and cattle raising.

In 2011 Anguilla became the fifth largest jurisdiction for Captive Insurance, behind Bermuda, Cayman, Vermont and Guernsey.[7] The captive industry plays an ever increasing and important part of Anguilla's financial services industry. Captive management firms, including Capstone Associated Services, have staffed offices in Anguilla in order to service the fast-growing captive insurance industry.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Economy Of Anguilla"

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