The Economy of Anguilla

An arid and dry island with little forest, Anguilla has few natural resources on land. The sea, however is rich with animal, plant and mineral life and the people focus on it for much of their life and livelihood.

The economy relies heavily on luxury tourism, which is growing as Anguilla becomes one of the trendier destinations in the Caribbean. This, in turn, has led to a spurt in the construction sector as the demand for holiday homes and resorts continues to rise. Tourism will also be helped along by the expansion of the Wallblake Airport's runways to accommodate larger jets. In the near future as well, tourism will drive economic growth so positive economic conditions in the industrialized nations will bode well for Anguilla.

Anguilla exports lobster, fish, livestock, salt, concrete blocks and rum to countries like UK, US, Puerto Rico and Saint-Martin. The government is also trying to develop the offshore financial services sector. It has set up ACORN (Anguilla's Commercial Online Registration Network) to help companies worldwide to incorporate over the internet instantly.

The currency of Anguilla is the Eastern Caribbean Dollar (EC$). One EC Dollar is made up of 100 cents. The US Dollar is also widely in use.