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Country Report Virgin Islands (British) 3rd Quarter

  • ID: 2138746
  • Country Profile
  • September 2021
  • Region: Global
  • 16 Pages
  • The Economist Intelligence Unit
The Economist Intelligence Unit expects the political climate to be somewhat tense during the 2021-22 forecast period, owing to an ongoing UK-sanctioned commission of inquiry (COI) into allegations of misconduct by government officials. We believe that the popularity of sitting legislators will suffer in the aftermath of the COI, particularly ahead of the next general election, which is due in 2023.

Real GDP will rebound partially in 2021 from the 2020 coronavirus-induced contraction. After falling by an estimated 17% in 2020, real GDP will grow by only 12.5% in 2021, with tourism receipts (which contributed up to a third of the territory's GDP before the pandemic) set to remain below pre-2019 levels. Real GDP will then grow by 4.5% in 2022 as international travel resumes. With tourism still subdued, financial services, real estate and commerce will be the territory's main economic sectors this year.

The British Virgin Islands reopened its borders to foreign tourists in December 2020. To enter the territory, travellers must comply with protocols including supplying a negative Covid-19 test prior to arrival and quarantining at approved accommodation for four days. These protocols will deter many tourists from travelling to the British Virgin Islands in 2021, considering that other Caribbean islands with similar tourism products have less stringent measures in place. However, positive developments regarding the global and local vaccine rollouts pose upside risks to our forecast. As at early September 46% of the population had been fully vaccinated, and 61.3% of people had received at least one dose). At this pace, the territory is set to vaccinate the entire population (estimated at 30,030 people) by early next year.
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Country Report Virgin Islands (British) 3rd Quarter

Summary
Review

Basic data
Land area
Population
Major islands
Capital
Climate
Weather in Road Town
Language
Measures
Currency
Time
Public holidays

Political structure
Official name
Form of government
The executive
Head of state
Legislature
Legal system
Elections
Government
Main political organisations
Governor
Key ministers

Economic structure: Annual indicators
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