Top 10 Richest Islands in the Caribbean in 2025
The Caribbean conjures images of pristine beaches and turquoise waters, but beyond its natural beauty lies extraordinary wealth.
The Caribbean conjures images of pristine beaches and turquoise waters, but beyond its natural beauty lies extraordinary wealth. The region is home to some of the world's most affluent small economies, with GDP per capita figures rivaling or exceeding many developed nations.
For those exploring second citizenship or investment opportunities, understanding the economic landscape of these islands is crucial. Each offers unique advantages – from offshore financial centers to Citizenship by Investment programs – that attract global investors and high-net-worth individuals. Some investors also compare Caribbean options with alternatives beyond the region, such as Citizenship by Investment in Argentina, to diversify mobility and investment strategies.
In this comprehensive analysis, we'll explore the Caribbean's ten wealthiest islands as of 2025, examining what drives their prosperity and what opportunities they present for global citizens seeking new horizons.
How We Measure Caribbean Wealth
Determining the "richest" Caribbean islands requires a multifaceted approach. Our rankings consider several key metrics:
GDP per capita provides the clearest measure of average economic output per resident. This figure helps identify which islands generate the most wealth relative to their population size.
Total GDP reveals the overall economic might of each territory, showing which islands have larger, more diverse economies regardless of population.
Wealth concentration examines the presence of high-net-worth individuals, luxury real estate, and wealth inequality – factors that tell us how prosperity is distributed.
Investment landscape considers foreign direct investment flows, tourism revenues, and development projects that fuel economic growth.
Citizenship opportunities evaluates programs that allow investors to obtain passports or residency, which have become significant economic drivers for several islands.
By combining these indicators, we've created a holistic picture of the Caribbean's wealthiest island economies in 2025.
1. Bermuda (UK Overseas Territory)
GDP per capita (2023): $134,000
Population: ~64,000
Total GDP: ~$7.0 billion
Bermuda stands unrivaled as the Caribbean's wealthiest territory by per capita measures. This British Overseas Territory, located in the North Atlantic, has leveraged its strategic position to become a global insurance and reinsurance powerhouse.
The island's prosperity stems from its sophisticated financial services sector, which accounts for roughly 85% of Bermuda's GDP. As one of the world's largest reinsurance centers, it hosts offices of major international firms that manage risk portfolios worth hundreds of billions. The absence of corporate income tax has cemented Bermuda's appeal to these businesses.
High-net-worth executives and professionals dominate Bermuda's small population, driving extraordinary living costs. The average single-family home ranges from $500,000 to well over $2 million – on an island just 21 square miles in size. These property values reflect the concentration of wealth among residents.
For citizenship seekers, however, Bermuda presents limited opportunities. The territory maintains strict immigration policies, with residence permits tied primarily to employment with Bermuda-based companies. While long-term residents can apply for status after 10 years, full British citizenship is not automatically granted to all permanent residents.
Despite these constraints, Bermuda attracts affluent expatriates who appreciate its stable governance, sophisticated business environment, and high quality of life – albeit at premium prices.
2. Cayman Islands (UK Overseas Territory)
GDP per capita (2023): $98,000
Population: ~68,000
Total GDP: ~$6 billion
Photo by Azzedine Rouichi / Unsplash
The Cayman Islands ranks second in our wealth rankings, boasting a remarkable GDP per capita of $98,000. This three-island territory has transformed itself into one of the world's premier offshore financial centers.
Cayman's economic model revolves around its status as a tax-neutral jurisdiction – it imposes no income, capital gains, or corporate taxes. This policy has attracted over 100,000 registered companies (far exceeding the local population) and thousands of investment funds that collectively manage trillions in assets.
The financial services industry employs roughly 30% of the workforce and contributes about 40% of GDP. Banking, fund administration, and corporate services generate high-paying jobs for both Caymanians and expatriate professionals from over 100 nationalities.
Tourism forms the second pillar of Cayman's prosperity, with Seven Mile Beach and world-class diving attracting affluent visitors who spend generously at luxury resorts and restaurants. Unlike some Caribbean destinations, Cayman has deliberately focused on high-value tourism rather than mass-market cruise passengers.
For those seeking residence, Cayman offers several investment-based pathways. These include business investment (minimum $1.2 million in a local business) or real estate investment (minimum $2.4 million). While permanent residency is available, the Cayman Islands doesn't offer citizenship by investment, maintaining high barriers to full integration.
The territory's stable government, sophisticated infrastructure, and high standard of living make it a coveted destination for wealth preservation and business establishment, despite the substantial investment required to gain residence rights.
3. US Virgin Islands (US Territory)
GDP per capita (2022): $44,300
Population: ~105,000
Total GDP: ~$4.5-5 billion
Photo by Cyrus Crossan / Unsplash
The US Virgin Islands (USVI) secures third place in our rankings with a robust GDP per capita of $44,300. Comprising the islands of St. Thomas, St. John, and St. Croix, this US territory benefits from its political relationship with the United States while maintaining its Caribbean identity.
Tourism dominates the USVI economy, welcoming approximately 2.5 million visitors annually through its cruise ports and stay-over accommodations. The islands offer a blend of pristine beaches, duty-free shopping, and natural attractions that appeal to American travelers who appreciate visiting without passports.
However, the USVI's wealth story extends beyond tourism. Special tax incentives have transformed these islands into a magnet for high-net-worth Americans seeking to reduce their tax burden while remaining under the US flag. Programs like the Economic Development Commission (EDC) offer substantial tax benefits (including up to 90% reduction in corporate income tax and personal income tax exemptions on certain income) to qualifying businesses that relocate.
These incentives have attracted investment firms, technology companies, and wealthy entrepreneurs to establish residency, particularly in upscale communities on St. Thomas and St. John. The resulting influx has boosted real estate values and supported luxury service industries.
For citizenship seekers, the USVI offers a unique proposition: residents are US citizens with most constitutional rights, yet enjoy specific tax advantages unavailable on the mainland. Establishing bona fide residency (spending a minimum of 183 days per year in the territory) can provide significant tax planning opportunities for Americans.
While facing challenges like infrastructure limitations and hurricane recovery costs, the USVI's blend of American stability and Caribbean lifestyle continues to attract both tourists and wealthy residents seeking tax optimization within the US system.
4. British Virgin Islands (UK Overseas Territory)
GDP per capita (2023): $38,600
Population: ~30,000
Total GDP: ~$1.1-1.2 billion
Photo by Matt Briney / Unsplash
The British Virgin Islands (BVI) claims fourth position with a GDP per capita of $38,600. This archipelago of over 60 islands has built its wealth on two pillars: offshore financial services and luxury tourism.
The BVI's financial services sector has established the territory as a global leader in company formations. More than 400,000 international business companies are registered in the BVI – an astonishing number for such a small population. These entities utilize the territory's business-friendly regulations, judicial stability based on English common law, and confidentiality provisions.
The absence of income taxes, capital gains taxes, wealth taxes, and corporate taxes has cemented the BVI's appeal for international wealth structuring. Financial services contribute approximately 60% of government revenue and employ a significant portion of the workforce in high-skilled positions.
Luxury tourism represents the second major economic driver. The BVI is renowned worldwide as a premier sailing destination, with its protected waters and numerous anchorages attracting yachting enthusiasts. The territory receives most of its visitors through its marinas rather than traditional airports, creating a distinct tourism economy centered on boat charters, provisioning, and upscale villa rentals.
For residence seekers, the BVI offers options through business investment or property purchase, though requirements are substantial. The territory does not provide a citizenship by investment program, maintaining strict controls on long-term settlement.
The BVI's continued prosperity faces challenges from increased international regulatory pressure on offshore financial centers. However, its adaptation to transparency requirements, combined with its unmatched sailing conditions, ensures the territory remains both a financial haven and luxury destination.
5. The Bahamas (Sovereign Nation)
GDP per capita (2023): $34,750
Population: ~400,000
Total GDP: ~$14.3 billion
Photo by Fernando Jorge / Unsplash
The Bahamas ranks fifth on our list as the wealthiest independent Caribbean nation, with a GDP per capita of $34,750. This archipelago of 700 islands has successfully leveraged its proximity to the United States, tax-free status, and natural beauty to build a robust economy.
Often described as a "billionaire playground," The Bahamas has cultivated an environment that attracts ultra-high-net-worth individuals. The absence of income, capital gains, inheritance, and corporate taxes makes it particularly appealing for wealth preservation and estate planning.
For globally mobile families, these advantages are often reviewed alongside non-Caribbean pathways such as São Tomé and Príncipe Citizenship by Investment, depending on their broader mobility objectives.
Affluent enclaves like Lyford Cay, Albany, and Paradise Island feature multi-million-dollar estates owned by global elites. In fact, The Bahamas ranks third globally in the Prime International Residential Index for luxury property growth, reflecting strong demand from foreign buyers seeking both tax advantages and lifestyle benefits.
The banking sector forms another pillar of the Bahamian economy. As a leading international financial center, it hosts numerous private banks, wealth management firms, and investment companies that serve global clients. Financial services contribute approximately 15% of GDP and provide high-paying jobs for educated Bahamians.
Tourism remains the dominant industry, contributing around 50% of GDP and employing about half the workforce. The Bahamas has successfully positioned itself in the luxury segment, with exclusive resorts on private islands commanding premium rates from affluent travelers.
For citizenship seekers, The Bahamas offers permanent residency through real estate investment (minimum $750,000), with an accelerated track for investments over $1.5 million. While not offering a direct citizenship program, long-term residents can apply for naturalization after 10 years.
The Bahamas' combination of political stability, sophisticated financial infrastructure, and tax benefits continues to attract wealthy individuals seeking both a Caribbean lifestyle and prudent wealth management.
6. Puerto Rico (US Territory)
GDP (2023): $117.9 billion
Population: ~3.2 million
GDP per capita: ~$36,800
Photo by Ana Toledo / Unsplash
Puerto Rico earns sixth place in our rankings with a substantial GDP per capita of approximately $36,800. As a US territory with a population of 3.2 million, Puerto Rico boasts the second-largest economy in the Caribbean, trailing only the Dominican Republic in total GDP.
The island's economic model combines manufacturing strength (particularly pharmaceuticals and medical devices), federal transfers from the US, and a growing reputation as a tax haven for mainland Americans. This latter development has significantly shaped Puerto Rico's wealth landscape since 2012.
Under Act 60 (formerly Acts 20/22), Puerto Rico offers extraordinary tax incentives to qualifying individuals who establish bona fide residency. These include a 0% tax rate on capital gains, interest, and dividends, and just 4% corporate tax for exported services businesses. These benefits have attracted hundreds of wealthy entrepreneurs, cryptocurrency investors, and financial professionals.
The influx of these high-net-worth individuals has transformed certain areas, particularly Dorado Beach and parts of San Juan, where luxury real estate prices have surged 20-30% since 2019. New upscale restaurants, services, and amenities have emerged to serve this growing affluent population.
Beyond tax advantages, Puerto Rico offers citizenship seekers the benefits of US citizenship, as all Puerto Ricans are American citizens. This provides visa-free access to numerous countries and the right to live and work anywhere in the United States – advantages not available through most Caribbean citizenship programs.
Despite these strengths, Puerto Rico continues to face challenges from natural disasters, infrastructure needs, and public debt issues. However, for individuals seeking tax efficiency within the US system, Puerto Rico represents one of the most compelling options in the Caribbean.
7. Aruba (Kingdom of the Netherlands)
GDP per capita (2023): ~$34,000
Population: ~107,000
Total GDP: ~$3.6 billion
Photo by Kiril Georgiev / Unsplash
Aruba claims seventh place with a GDP per capita of approximately $34,000. This Dutch Caribbean island has developed a prosperous economy based primarily on tourism, with additional stability provided by its political relationship with the Netherlands.
Often called "One Happy Island," Aruba welcomes over 1.5 million visitors annually – an extraordinary number for an island of just 107,000 residents. Unlike some Caribbean destinations, Aruba maintains a high tourism repeat rate (around 65%), reflecting strong visitor satisfaction and loyalty.
The island has successfully positioned itself as a premium destination, with most resorts clustered along Palm Beach and Eagle Beach – consistently ranked among the Caribbean's best. These high-occupancy hotels generate substantial revenues, supporting well-paying jobs in hospitality, restaurants, and tourism services.
Aruba's economy is further strengthened by its stable governance, as part of the Kingdom of the Netherlands. The island enjoys autonomous status in domestic affairs while benefiting from Dutch support in areas like defense and foreign relations. This arrangement provides confidence for investors and developers.
For residence seekers, Aruba offers pathways through business investment or retirement, though the process can be lengthy. While not offering citizenship by investment, the island's Dutch connection provides residents with excellent mobility options within the European Union.
Aruba's continued prosperity faces challenges from climate change and over-reliance on tourism. However, the government has made strides in renewable energy (targeting 100% sustainability) and promoting economic diversification to ensure long-term resilience.
With its combination of economic stability, high safety ratings, and excellent infrastructure, Aruba provides both a high quality of life for residents and attractive opportunities for investors focused on the tourism sector.
8. Turks and Caicos Islands (UK Overseas Territory)
Photo by KEATON NYE / Unsplash
GDP per capita (2023): ~$30,400
Population: ~45,000
Total GDP: ~$1.4 billion
The Turks and Caicos Islands (TCI) secure eighth position with a GDP per capita of approximately $30,400. This British Overseas Territory has emerged as one of the Caribbean's most exclusive destinations, with a focus on ultra-luxury tourism and high-end real estate.
According to Savills' 2024 report, TCI now boasts the Caribbean's most expensive luxury real estate market, with prime residential prices averaging $1,280 per square foot – a 33% increase since 2019. This surge reflects the islands' appeal to affluent North Americans (who comprise 60% of high-end buyers) seeking pristine beaches and privacy.
Like several other British territories in the region, TCI operates as a tax-neutral jurisdiction. There are no income taxes, capital gains taxes, or property taxes, creating an attractive environment for wealth preservation. This policy has drawn high-net-worth individuals to establish residence, particularly in the Providenciales area.
Tourism forms the backbone of the economy, with visitors drawn to renowned locations like Grace Bay Beach, consistently ranked among the world's best. Unlike mass-market Caribbean destinations, TCI has deliberately focused on luxury accommodations, with five-star resorts and private villas dominating the hospitality landscape.
For residence seekers, TCI offers Permanent Residence Certificates through substantial real estate investment (typically $1 million+). While citizenship is not directly available through investment, the British Overseas Territory status provides stable governance and legal structures based on English common law.
The territory's continued development faces challenges from environmental concerns and infrastructure needs. However, with its low population density, extraordinary natural beauty, and growing reputation among the ultra-wealthy, TCI's economic trajectory appears firmly upward.
9. St. Kitts and Nevis (Sovereign Nation)
GDP per capita (2023): ~$18,000
Population: ~54,000
Total GDP: ~$1 billion
Photo by Omar Martin / Unsplash
St. Kitts and Nevis ranks ninth with a GDP per capita of approximately $18,000. This twin-island federation holds the distinction of pioneering the Citizenship by Investment (CBI) concept in 1984, creating a model that has been emulated worldwide.
The CBI program has transformed the nation's economy. In peak years, CBI revenues have accounted for approximately 25% of GDP – an extraordinary figure that illustrates the program's impact. These funds have financed public infrastructure, kept taxes low, and supported economic development across both islands.
Investors can obtain citizenship through either a contribution to the Sustainable Growth Fund (starting at $150,000 for a single applicant) or a real estate investment (minimum $200,000-$400,000). This passport provides visa-free access to over 150 countries, including the EU's Schengen Area, the UK, and major Asian business hubs.
Beyond CBI, tourism represents the second pillar of the economy. The federation has embraced luxury tourism, developing upscale resorts like Park Hyatt St. Kitts and Four Seasons Nevis. Many of these projects were partially financed through CBI real estate investments, creating a virtuous economic cycle.
For citizenship seekers, St. Kitts and Nevis offers one of the most established and respected programs globally. The due diligence process is rigorous, processing times are efficient (3-6 months standard), and the passport provides excellent global mobility.
While the IMF has cautioned about over-reliance on CBI revenue (projecting a gradual decline to ~10% of GDP by 2028), the federation has implemented program reforms to ensure sustainability. Diversification efforts into technology, education, and sustainable agriculture aim to complement the CBI and tourism sectors.
With its combination of economic citizenship options, luxury tourism, and political stability, St. Kitts and Nevis continues to punch above its weight in regional prosperity.
10. Trinidad and Tobago
GDP (2023): $27.4 billion
Population: ~1.4 million
GDP per capita: ~$19,000
Photo by Thruston Benny / Unsplash
Trinidad and Tobago rounds out our top ten with a GDP per capita of approximately $19,000. This twin-island republic stands apart from most Caribbean economies due to its industrial base and natural resource wealth.
Unlike its tourism-dependent neighbors, Trinidad and Tobago is the Caribbean's energy powerhouse. The nation possesses significant oil and natural gas reserves, with the energy sector accounting for approximately 40% of GDP and 80% of exports. This resource wealth has funded substantial infrastructure development and public services.
Port of Spain, the capital, hosts regional headquarters for international energy companies and serves as a financial hub for the southern Caribbean. The presence of these firms has created a robust professional services sector and well-paying jobs for educated locals.
Tobago, the smaller island, focuses more on tourism with its beautiful beaches and protected rainforest. However, tourism represents a relatively modest portion of the overall economy compared to energy and manufacturing.
For residence seekers, Trinidad and Tobago doesn't offer a citizenship by investment program. The conventional naturalization process requires five years of legal residence before application. The nation maintains stricter immigration policies than many Caribbean countries, reflecting its stronger domestic economy and employment opportunities for nationals.
The country faces challenges from petroleum price volatility and the need for economic diversification. However, efforts to develop downstream industries, financial services, and technology initiatives aim to reduce oil dependence.
Trinidad and Tobago's wealth derives more from productive industries than offshore services or foreign investment schemes, giving it a distinct economic profile in the region. Its substantial middle class, relatively diverse economy, and industrial base provide resilience that pure tourism economies often lack.
Common Wealth Factors: What Makes Caribbean Islands Rich?
Across the Caribbean's wealthiest islands, several common factors emerge that drive prosperity:
Tax advantages play a crucial role for many of these economies. From Bermuda's absence of corporate income tax to the Bahamas' full tax neutrality for individuals, favorable tax regimes attract wealth, businesses, and investment. This approach has proven particularly successful for the British Overseas Territories and independent nations like the Bahamas.
Financial services form the backbone of several leading economies. Bermuda dominates in reinsurance, Cayman excels in fund administration, and the BVI specializes in company formations. These sophisticated sectors generate high-value employment and substantial government revenues without requiring extensive natural resources or land area.
Luxury tourism distinguishes the wealthiest islands from mass-market destinations. Places like Turks and Caicos and St. Barts deliberately target high-spending visitors rather than maximizing arrival numbers. This strategy preserves natural beauty while generating greater economic impact per visitor.
Citizenship and residence programs have transformed economies like St. Kitts and Nevis, where CBI revenue has financed major development projects. Puerto Rico's tax incentives for US citizens and the various residence-by-investment options throughout the region create pathways for wealth migration that boost local economies.
Political stability underpins economic success across these territories. Whether through relationships with larger nations (UK, US, Netherlands) or strong independent governance, investors and wealthy individuals seek jurisdictions with reliable legal systems and predictable policies.
These factors combine differently across each island, creating unique economic models that leverage specific advantages – from Bermuda's insurance expertise to Trinidad's energy resources.
Considerations for Potential Investors and Citizens
For those considering investment or citizenship in the Caribbean's wealthiest islands, several factors merit careful evaluation:
Program legitimacy and longevity should be paramount when exploring citizenship options. St. Kitts and Nevis offers the longest-running CBI program with established credibility, while newer programs may carry more uncertainty regarding international acceptance and sustainability.
Lifestyle compatibility varies significantly across these islands. Bermuda and Cayman offer sophisticated, cosmopolitan environments with excellent infrastructure but at premium costs. Islands like Aruba provide more relaxed settings with strong tourism amenities. Matching your preferences with local lifestyle is crucial for long-term satisfaction.
Tax implications require thorough professional analysis. While Caribbean tax advantages can be substantial, interaction with your home country's tax system demands careful planning. For Americans, Puerto Rico offers unique benefits within the US system that may exceed value from traditional offshore strategies.
Investment diversification opportunities differ by location. Trinidad offers industrial and energy sector prospects, while tourism-dependent economies present real estate and hospitality ventures. Understanding each island's economic strengths helps align investments with local growth patterns.
Residency requirements vary widely. Some islands permit occasional visits to maintain status, while others (like Puerto Rico for tax benefits) require physical presence for the majority of the year. These requirements should match your intended lifestyle and global mobility needs.
The wealthiest Caribbean islands offer compelling advantages for the right investors. However, thorough due diligence – preferably with experienced legal and financial advisors – is essential before committing to any citizenship or investment program.
Future Outlook: Sustainability and Growth
Looking beyond 2025, several trends will shape the economic landscape of the Caribbean's wealthiest islands:
Regulatory evolution continues to impact offshore financial centers. International pressure for transparency has already transformed how jurisdictions like Bermuda, Cayman, and the BVI operate. Those that have successfully adapted to new standards (rather than resisting them) are positioned for sustainable growth.
Climate resilience investments are becoming essential rather than optional. Wealthy islands like the Bahamas, Bermuda, and the USVI have experienced devastating hurricanes in recent years. Forward-thinking governments are channeling economic success into infrastructure adaptations, renewable energy, and construction standards to address intensifying climate threats.
Digital economy initiatives are diversifying beyond traditional sectors. Barbados' "Welcome Stamp" for remote workers and Bermuda's fintech regulatory framework demonstrate how Caribbean jurisdictions are leveraging digital transformation. These initiatives will likely expand across the wealthy islands seeking economic diversification.
Citizenship program refinement is underway as competition increases and international scrutiny grows. Premium CBI jurisdictions like St. Kitts and Nevis are raising standards, increasing minimum investments, and enhancing due diligence to ensure program sustainability. This trend favors quality over quantity in economic citizenship offerings.
Luxury tourism evolution continues with greater emphasis on environmental sustainability and authentic experiences. The most successful wealthy islands are moving beyond simply offering luxury accommodations to creating immersive, culturally relevant experiences that justify premium pricing.
Islands that successfully navigate these trends while maintaining their core economic advantages will likely strengthen their positions in future wealth rankings.
Conclusion
The Caribbean's wealthiest islands in 2025 represent diverse paths to prosperity. From financial powerhouses like Bermuda and Cayman to citizenship pioneers like St. Kitts and Nevis, each has leveraged unique advantages to achieve remarkable economic success despite small size and limited natural resources.
For global citizens exploring second passports, investment opportunities, or tax-efficient residence, these islands offer compelling options – though each comes with distinct trade-offs regarding cost, accessibility, and lifestyle.
The most successful jurisdictions have demonstrated adaptability amid changing global standards while preserving their core advantages. Their prosperity reflects thoughtful economic strategies that capitalize on location, political stability, and regulatory flexibility.
As the global landscape continues to evolve, the Caribbean's wealthiest islands are likely to remain attractive destinations for both capital and people seeking security, opportunity, and quality of life in one of the world's most beautiful regions.
Whether you're considering citizenship investment, business relocation, or portfolio diversification, understanding what drives wealth in these successful island economies provides valuable insight for your global citizenship journey.
