Market Research In Saint Vincent and the Grenadines

Saint Vincent and the Grenadines Profile:

  • Saint Vincent and the Grenadines is a sovereign state in the Lesser Antilles island arc, in the southern portion of the Windward Islands and is also known simply as Saint Vincent.
  • The services sector, based mostly on a growing tourist industry, is also important. There is a small manufacturing sector and a small offshore financial sector.
  • Saint Vincent has a French and British colonial history and is now part of the Organisation of Eastern Caribbean States, CARICOM, the Commonwealth of Nations, the Bolivarian Alliance for the Americas and the Community of Latin American and Caribbean States (CELAC).
  • The government’s ability to invest in social programs and respond to external shocks is constrained by its high public debt burden, which was 67% of GDP at the end of 2013.
  • In 2013, Saint Vincent called for European nations to pay reparations for the slave trade

Saint Vincent and the Grenadines Economy:

  • Saint Vincent and the Grenadines is lower-middle-income country remains vulnerable to natural and external shocks.
  • The economy has shown some signs of recovery due to increased tourist arrivals, falling oil prices and renewed growth in the construction sector.
  • The success of the economy hinges upon seasonal variations in agriculture, tourism, and construction activity, as well as remittances. Much of the workforce is employed in banana production and tourism.
  • Saint Vincent and the Grenadines is home to a small offshore banking sector and continues to fully adopt international regulatory standards.
  • The government has been relatively unsuccessful at introducing new industries, and the unemployment rate remains high at 19.8% in the 1991 census to 15% in 2001

Saint Vincent and the Grenadines Facts:

  • Population: 102,089
  • Capital: Kingstown
  • Largest city: Kingstown
  • Area: 389 sq km
  • Major language: English, French patois
  • Major religion: Protestant 75%, Roman Catholic 13%, other 12%
  • Life expectancy: 73.5 years (Male), 77.6 years (Female)
  • Monetary unit: 1 East Caribbean Dollar(EC$, XCD) = 100 Cents
  • Main exports: Bananas, eddoes, and dasheen (taro), arrowroot starch; tennis racquets
  • GNI per Capita: $11,410

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