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