In 2026, St. Thomas in the U.S. Virgin Islands remains the premier destination for buying diamonds in the Caribbean. Often referred to as the "Jewel of the Caribbean," the island's capital, Charlotte Amalie, boasts hundreds of jewelry stores concentrated along Main Street. The primary advantage is its duty-free and tax-free status, allowing U.S. citizens to bring back up to $1,600 worth of merchandise duty-free—double the amount of most other islands. This economic environment creates intense competition among family-owned and international jewelers, resulting in lower prices and a vast selection of GIA-certified loose diamonds and high-end settings. Additionally, Sint Maarten is a strong runner-up, known for its "diamond district" in Philipsburg where tax-free shopping also offers significant savings compared to U.S. mainland retail prices.