Anguilla Economic information

Anguilla is a British Overseas Territory located in the Caribbean. It is a small island and has a total population of approximately 15,000. Its economy is generally based on tourism. The tourism sector is the island's largest source of income. It is famous for its white sandy beaches, turquoise sea and luxury resorts. It is a destination preferred by high-income tourists. Financial services also play an important role in Anguilla's economy. There are many offshore banks and companies on the island. Tax advantages and low regulatory restrictions encourage the growth of the financial services sector. The agricultural sector plays a smaller role. There is limited agriculture on the island, and crops are generally grown for local consumption. Major agricultural products include bananas, coconuts, tomatoes and peppers. Anguilla's industrial sector is limited. Although there are small-scale manufacturing activities on the island, they generally serve the tourism and construction sectors. Anguilla's economy is dependent on foreign aid. UK financial and technical assistance supports the island's economic development. In addition, foreign investments in the tourism and finance sectors also contribute to the economy.