Nearshore Americas

St. Kitts Sees Huge Increase in Foreign Direct Investment

St. Kitts and Nevis received a record amount of FDI in 2011, outpacing most of the other nations in the Caribbean, according to a recent report from the Economic Commission for Latin America and the Caribbean (ECLAC).

Given the contents of the report, St Kitts and Nevis received $142 million in FDI in the year 2011, an increase of nearly $20 million compared to US$122 million received in 2010.

ECLAC has attributed this surge in investment to the investor-friendly policies of the government in St. Kitts.

According to the report, St. Vincent & the Grenadines saw an increase from $103 million to $135 million in FDI during the same period.

But the FDI inflow decreased in Antigua & Barbuda from US$101 million in 2010 to US$64 million in 2011. Similarly, foreign direct investment declined in neighboring St. Lucia and Grenada also.

According to the report, Latin America and the Caribbean countries received a total of US$153.448 billion in FDI in 2011, representing 10 percent of FDI globally.

In the first six months of 2012, the FDI flow rose to $94 billion, an 8 percent increase compared to the same period a year before.

A majority of investors in the region are from countries like the United States (18 percent), Spain (14 percent) and Japan (8 percent).

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The largest amount of FDI in the region flowed into the Dominican Republic, where the FDI increased US$2.37 billion in 2011 from $1.89 billion in 2010.

Staff Report

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