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Economic Growth Prospects for Antigua and Barbuda

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ANTIGUA AND BARBUDA. 2. Overview. Assumptions. Projected Growth Path. Opportunities ... The medium-term growth prospect for Antigua and Barbuda is favorable ... – PowerPoint PPT presentation

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Title: Economic Growth Prospects for Antigua and Barbuda


1
Economic Growth Prospects for Antigua and
Barbuda
SATAP Team 17 July 2006
ANTIGUA AND BARBUDA

2
Overview
  • Assumptions
  • Projected Growth Path
  • Opportunities
  • Challenges
  • Conclusion

3
Assumptions to GDP Projections
  • Construction
  • Hotel related construction
  • 2005 Estimate 200.5m
  • 2006 Estimate 700.0m
  • 2007 Estimate 203.3m
  • 2006/2007 Estimate of 142.5m for projects
    captured under the World Cup Incentives Act.

4
Assumptions to GDP Projections
  • Public Sector Projects
  • Cricket stadium 135.0m
  • Airport 200.0m in 2006/07
  • Car Park and Bus Terminal 25.0m
  • Transport Board Headquarters 25.0m

5
Assumptions to GDP Projections
  • Tourism
  • By the end of 2007 the number of hotels rooms
  • should increase by at least 40.0 per cent.
  • Additional Airlift from the UK and Europe and a
    new
  • marketing thrust in North America.

6
Projected Growth Path
7
Percentage Contribution to GDP
8
Opportunities
  • Tourism capacity
  • Price competitiveness
  • Other services sectors
  • Government policies to encourage private sector
    investment

9
Challenges
  • High Oil Prices
  • Natural Disasters
  • External Environment
  • Human Resource Capacity

10
Conclusion
  • The medium-term growth prospect for Antigua and
    Barbuda is favorable
  • There is a positive change in the structure of
    the economy over the medium-term
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