The Caribbean Emerges As A Global Economic Growth Leader For 2025
News Americas, New York, NY, January 13, 2025: The Caribbean region, including oil-rich Guyana, is poised to surpass many global economic giants in 2025, according to the United Nations’ World Economic Situation and Prospects report. With a remarkable projected growth rate of 6.1%, the Caribbean is set to be one of the world’s fastest-growing regions, outpacing economic powerhouses such as the United States, Canada, and the European Union.
Guyana’s thriving oil economy is leading Caribbean growth.
The Caribbean’s Economic Momentum
The report attributes the region’s remarkable growth to several factors, including:
Robust household spending
Easing monetary policies
Tourism sector
Even when excluding Guyana, the region is still forecast to grow at 2.5%, a rate significantly higher than the 1.3% projected for the European Union and the 1.9% forecast for Mexico and Central America.
Guyana’s Role in the Caribbean’s Surge
Guyana, bolstered by its thriving oil sector, is projected to grow by an extraordinary 15.5% in 2025, further driving the region’s overall performance. The Caribbean’s other countries also show promising growth rates:
Belize: 4.0%
Suriname: 3.5%
Barbados: 3.0%
The Bahamas: 2.0%
Jamaica: 2.0%
Global Comparisons
The economic growth forecasts for other regions paint a stark contrast:
United States: 1.9%
Canada: 1.8%
European Union: 1.3%
Mexico and Central America: 1.9%
Caribbean’s Growing Economic Significance
The Caribbean’s strong performance reflects a combination of improved private consumption and favorable economic policies, setting it apart in a year where many global economies face modest growth.
This data solidifies the Caribbean’s growing role as a leader in global economic resilience, with Guyana spearheading the region’s impressive trajectory for 2025.