The 12 Richest Caribbean Countries in 2026

The rich Caribbean countries are often home to high-net-worth individuals and millionaires from across the world. To explain the concept, when quantifying the size of an economy, we use GDP (Gross Domestic Product), which measures the total value of goods and services produced within a country, and is divided by that country’s population to calculate GDP per capita. This translates to an average economic output per person.

The rankings of those two measures can vary widely: Puerto Rico is the largest economy in the Caribbean by total GDP, whereas Bermuda, the Cayman Islands, and Sint Maarten are some of the highest-per-capita economies in the Caribbean.

GDP per capita is a more accurate measurement of the average living standards and comparative wealth, as it reflects the economic resources available to each person. This guide explores which Caribbean countries are the wealthiest and how their economic strength compares to wealthy nations in the region.

Based on GDP per capita, the wealthiest Caribbean countries are Bermuda and the Cayman Islands, followed by the US Virgin Islands, the British Virgin Islands, and the Bahamas. Bermuda’s GDP per capita is significantly higher, at over $110,000, while the US Virgin Islands and the Bahamas have figures around $45,000 and $36,000, respectively.

1. Bermuda

Comprising 181 islands, Bermuda is one of the most populous and wealthiest British Overseas Territories in the Caribbean. This Caribbean nation has the highest GDP per capita: $142,250 from a population of just under 65,000, making it the richest Caribbean country.

Offshore insurance and tourism are the most significant sectors, both producing high economic returns. The country also does not levy corporate tax on residents. Bermuda attracts hundreds of thousands of tourists each year, which supports its significant wealth.

2. Cayman Islands

Renowned as one of the most significant Caribbean tax havens and offshore paradises, the Cayman Islands attracts massive amounts of foreign investment. The Caribbean island and British Overseas Territory is home to people from more than 100 countries.

With a population of around 77,000, this British Overseas Territory is the second-richest Caribbean country in terms of per capita income, recording a GDP per capita of $104,300. Grand Cayman, Cayman Brac, and Little Cayman are the most popular areas among Cayman Islands Residency Certificate holders and are famous for their luxury resorts. The region uses its own currency, the Cayman Islands dollar (KYD), which trades at USD $1.20 to 1 KYD.

Since the country levies no income tax, capital gains tax, or corporation tax, wealthy individuals apply for Cayman Islands residency by investment, and the largest number of offshore companies in the Caribbean are registered under its jurisdiction, contributing to its reputation as one of the Caribbean’s richest islands.

3. US Virgin Islands (USVI)

The main islands of Saint Croix, Saint John, Saint Thomas, and other small islands make up the US Virgin Islands. The region is well known for its pristine natural beauty and welcoming population. Owing to these factors, the US Virgin Islands (USVI) attracts over one million tourists per year, and tourism accounts for the territory’s rising GDP and reputation as a wealthy Caribbean nation, with a per capita GDP of $44,320. In addition to tourism, trade, commerce, and other service jobs dominate the economy.

Since the Virgin Islands is an unincorporated and organized territory of the United States, the islands’ high-net-worth residents are also US citizens, placing the nation among the highest-ranking destinations in the top 10 richest Caribbean countries list by GDP per capita.

4. Sint Maarten

World-famous for its luxurious beach resorts, coves, and nightlife, Sint Maarten in the Dutch Caribbean is one half of two territories–Saint Martin (French Caribbean) and Sint Maarten (Dutch Caribbean).

The island makes the Caribbean countries’ richest list by attracting over one million air and cruise arrivals every year. According to the International Monetary Fund (IMF), the island’s economy depends heavily on tourism, as over half the 44,000 population is employed in the tourism industry, which generated a GDP per capita of $42,978.

5. Puerto Rico

Puerto Rico is a Caribbean island and a territory of the United States. The nation has a high per capita income of $40,620, which is supported by a diverse economy. The economically important industries include pharmaceuticals, manufacturing, finance, tourism, healthcare, and professional services.

While most Caribbean economies are deeply reliant on tourism, Puerto Rico has managed to build a relatively broad economic base, with much of its current potential contingent on the pharmaceutical and biotechnology sectors.

Major pharmaceutical and medical device manufacturing facilities serve international markets from the island, while tourism remains a significant industry thanks to its beaches, cultural offerings and historic sights.

6. The Bahamas

The Bahamas consists of around 16 major islands and is one of the most sought-after tourist destinations in the world. Owing to its significant tourism, financial services, and investor visas, such as the Bahamas Economic Permanent Residency, this island is the richest sovereign state in the Caribbean by GDP per capita, with a GDP per capita of $39,455 from a population of about 400,000 people.

The country is a tax haven and does not impose income tax, corporate tax, capital gains tax, or wealth tax, attracting some of the world’s richest people and celebrities, including Oprah Winfrey and Tiger Woods.

7. Aruba

Located in the southern Caribbean, Aruba is part of the Kingdom of the Netherlands. It boasts one of the wealthiest economies in the Caribbean, with a GDP per capita of $38,590, so it is no surprise that the island has established itself as a stable, high-income destination.

Supported primarily by tourism that draws visitors from around the world, it remains a bedrock of local economies. Aruba’s economy is based on tourism, but other sectors, such as hospitality, financial services, trade, and logistics, also support the island.

8. Turks and Caicos Islands

Known as the Turks and Caicos Islands, this British Overseas Territory in the Caribbean has a population of around 50,000. The islands have a thriving tourism industry, making up over 40% of the rich Caribbean nation’s national income.

Like other British Overseas Territories in the Caribbean, the Turks and Caicos Islands operates an offshore banking services industry that appeals to wealthy individuals and international businesses. According to the World Bank, the territory’s residents had a GDP per capita of $37,506 in 2024.

9. Guyana

Guyana, on the north coast of South America, is a member of CARICOM. Since the discovery and development of large offshore oil reserves, this new direction has turned it into one of the fastest-growing economies in the world and an emerging economic force within the broader Caribbean.

Guyana is one of the wealthiest Caribbean countries in terms of GDP per capita ($32,413 in 2025). Today, oil and gas are the main engines of its economic growth, supported by traditional sectors in agriculture, gold mining, bauxite, and services. International investments have flowed into the country’s burgeoning energy sector, bolstering government revenues and financing major infrastructure projects.

10. Barbados

Barbados is a Caribbean state off the coast of South America and home to the headquarters of the Caribbean Development Bank. The country’s RBC Caribbean is ranked as one of the top banks in the Caribbean. This island nation has a population of approximately 282,000, which produced a GDP per capita of $28,364, according to the World Bank 2025 estimate.

The island nation has a dynamic economy, with tourism dominating it. According to the International Monetary Fund (IMF), nearly 40 percent of the 700,000 tourists who visit the island annually are from the United Kingdom, followed by the US and Canada, all of which contribute to its wealth. Despite its small size and population, it hosts the third-largest stock exchange in the Caribbean.

11. St Kitts and Nevis

Located between the Atlantic Ocean and the Caribbean Sea, this country is famous for its mountains, tropical forests, and former sugar production plantations. After the sugarcane industry’s decline, this nation primarily depends on tourism, agriculture, manufacturing, and the St Kitts and Nevis Citizenship by Investment program to generate income.

St Kitts and Nevis is a member country of CARICOM, OECS, and OAS, and its industries have helped it become the richest sovereign nation in the Eastern Caribbean. The gold-standard Caribbean citizenship by investment destination had a per capita GDP of $25,223, according to a 2025 report by the World Bank.

12. Antigua and Barbuda

Antigua and Barbuda is a former British Overseas Territory with a population of 94,000. Like other Caribbean countries, Antigua and Barbuda has an economy that depends heavily on tourism. The country also allows foreigners to invest in the Caribbean and obtain citizenship, elevating its ranking on the Caribbean nation’s rich list.

By investing in real estate in Antigua and Barbuda or contributing through government donations, foreign investors can apply for the Antigua and Barbuda Citizenship by Investment program. The country also offers tax exemptions, with no income tax, capital gains tax, inheritance tax, or wealth tax. Antigua and Barbuda recorded a GDP per capita of $24,819 in 2025.

Here is the list of the richest Caribbean countries by GDP, according to the World Bank.

Disclaimer: Data is sourced from the World Bank estimates, which collate official country statistics, national statistical organizations, central banks, OECD databases, and World Bank National Accounts data files.

Richest by total GDP

For overall GDP, the World Bank 2025 estimates revealed that Puerto Rico has the Caribbean’s strongest economy, with a GDP of $129 billion in 2025. It is followed closely by the Dominican Republic, with a GDP of $127 billion in 2025.

While Puerto Rico has one of the most diverse economies in the Caribbean, the Dominican Republic dominates the Caribbean tourism, which significantly contributes to the country’s high GDP.