News Americas, New York, NY, January 13, 2025: The Caribbean region, including oil-rich Guyana, is poised to surpass many global economic giants in 2025, according to the United Nations’ World Economic Situation and Prospects report. With a remarkable projected growth rate of 6.1%, the Caribbean is set to be one of the world’s fastest-growing regions, outpacing economic powerhouses such as the United States, Canada, and the European Union.
The Caribbean’s Economic Momentum
The report attributes the region’s remarkable growth to several factors, including:
- Robust household spending
- Easing monetary policies
- Tourism sector
Even when excluding Guyana, the region is still forecast to grow at 2.5%, a rate significantly higher than the 1.3% projected for the European Union and the 1.9% forecast for Mexico and Central America.
Guyana’s Role in the Caribbean’s Surge
Guyana, bolstered by its thriving oil sector, is projected to grow by an extraordinary 15.5% in 2025, further driving the region’s overall performance. The Caribbean’s other countries also show promising growth rates:
- Belize: 4.0%
- Suriname: 3.5%
- Barbados: 3.0%
- The Bahamas: 2.0%
- Jamaica: 2.0%
Global Comparisons
The economic growth forecasts for other regions paint a stark contrast:
- United States: 1.9%
- Canada: 1.8%
- European Union: 1.3%
- Mexico and Central America: 1.9%
Caribbean’s Growing Economic Significance
The Caribbean’s strong performance reflects a combination of improved private consumption and favorable economic policies, setting it apart in a year where many global economies face modest growth.
This data solidifies the Caribbean’s growing role as a leader in global economic resilience, with Guyana spearheading the region’s impressive trajectory for 2025.