These Are the Freest Caribbean Economies In 2025—Is Your Country On The List?

/0 Comments/in /by

News Americas, New York, NY, May 15, 2025: Wondering how economically free Caribbean nations are? According to the 2025 Index of Economic Freedom from The Heritage Foundation, the region is mostly economically free, with several countries outperforming both global and regional averages.

BarBarbados leads the region with a score of 68.9, ranking 36th globally out of 184 countries and 5th in the Americas, placing it firmly in the “moderately free” category. It is followed closely by Jamaica (68.7, 38th) and Saint Lucia (67.0, 47th), showcasing the region’s continued push for open markets, efficient regulations, and growth-friendly policies.

The Bahamas, with its tax-free model and steady macroeconomic management, ranks 72nd globally with a score of 63.2, also considered “moderately free.” While still performing above global and regional averages, institutional improvements are needed to ensure sustainable economic growth.

Here’s how Caribbean nations ranked in the 2025 Index of Economic Freedom:

Barbados – 68.9 (36th globally)

Jamaica – 68.7 (38th)

Saint Lucia – 67.0 (47th)

Dominican Republic – 64.3 (65th)

Belize – 64.2 (66th)

Trinidad and Tobago – 63.6 (69th)

The Bahamas – 63.2 (72nd)

Saint Vincent and the Grenadines – 60.1 (87th)

Guyana – 58.2 (99th)

Dominica – 55.3 (116th)

Suriname – 50.9 (144th)

Haiti – 46.1 (163rd)

Cuba – 25.4 (175th)

At the bottom of the list, Cuba and Haiti are classified as “repressed” economies, facing entrenched challenges such as rigid state control, corruption, and weak legal institutions.

Despite variations in rankings, most Caribbean nations fall within the “moderately free” category, signaling a generally positive outlook for investment, private-sector growth, and economic development in the region.

Caribbean Economies Are Beating Latin America – Here’s Why

/0 Comments/in /by

News Americas, New York, NY, May 15, 2025: Caribbean nations are outpacing their Latin American neighbors in economic performance, according to a latest World Bank analysis. With tourism rebounding and oil-driven growth in Guyana, the region is solidifying its post-pandemic recovery and emerging as a model for economic management and fiscal discipline.

Tourism-dependent economies such as Barbados, Saint Lucia, and the Dominican Republic have returned to, or exceeded, pre-pandemic levels of GDP. For some, tourist arrivals have even reached pre-COVID-19 numbers, signaling a cooling in the sector’s explosive growth, while others still have room to grow.

Guyana continues to stand out with sustained GDP expansion, fueled by oil exploration and exportation that began in earnest in 2020. The country’s transformation into one of the fastest-growing economies in the world exemplifies the region’s new economic frontiers.

Inflation trends also show a marked divergence from Latin America. Thanks to widespread currency pegs in the Caribbean, the inflation spike of 2022–2023 was more subdued. However, nations like Jamaica and the Dominican Republic – operating under inflation-targeting regimes—experienced more pronounced and persistent inflation pressures. Since 2023, however, prices have been stabilizing, bringing inflation under better control across the region.

Jamaica’s innovative use of the Economic Programme Oversight Committee, (EPOC), to ensure fiscal transparency and build public trust has earned recognition from the World Bank as a potential model for broader adoption in the Latin America and Caribbean, (LAC) region.

Meanwhile, Barbados and Belize – long challenged by high debt burdens – have made significant strides through ambitious fiscal reforms. Both countries have achieved substantial reductions in their debt-to-GDP ratios, showcasing fiscal responsibility and resilience.

The World Bank’s assessment paints a hopeful picture for the investing in the Caribbean, positioning it not only as a recovery leader but also as a source of policy inspiration for the broader LAC region.