Economy of the British Virgin Islands

What language is spoken in St. Thomas?

The official and most widely spoken language in the Virgin Islands is English. The literacy rate in the Virgin Islands is around 90-95%. It is common to hear French Creole and Spanish spoken, particularly on St. Thomas and St.

What is BVI known for?

Today, the BVI remain a Territory under the British Crown and are world-renowned for their excellent sailing and yachting, many dive sites, and dazzling beaches. The principal islands are Tortola, Virgin Gorda, Anegada, and Jost Van Dyke.

How does the Virgin Islands make money?

Tourism, trade, and other services are the primary economic activities, accounting for nearly 60% of the Virgin Island’s GDP and about half of total civilian employment. The islands host nearly 3 million tourists per year, mostly from visiting cruise ships.

What kind of goods does the US Virgin Islands export?

Exports totaled more than four-fifths of imports in value annually. After the closure of the refinery, exports contracted sharply, although losses were later offset by growth in the tourist sector. Other than petroleum, exports include rum, clothing, and watches, and the main imports are foodstuffs and manufactured goods.

What kind of economy does the British Virgin Islands have?

Agriculture in The British Virgin Islands Livestock raising is the most important agricultural activity; poor soils limit the islands’ ability to meet domestic food requirements. A permit is required to import or export any plants, agricultural products or animals including pets.

Who are the major trade partners of the US Virgin Islands?

The major trade partners are China, the United States, and a number of countries of the European Union. Tourism, based on the pleasant tropical climate, attractive scenery, good fishing, proximity to the U.S. mainland, and free-port status, dominates the economy.

What kind of jobs does the US Virgin Islands have?

The leading sectors in employment are government service; trade, encompassing personal, business, and domestic services including tourism; manufacturing; and finance, real estate, and insurance. Coastline and offshore waters of Buck Island, part of Buck Island Reef National Monument, United States Virgin Islands. Michellejh