The country's three main economic drivers are: tourism, the international business sector, and foreign direct-investment. These are supported in part by Barbados operating as a service-driven economy and an international business centre.
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Barbados EconomyIs Barbados a wealthy country? Barbados is the wealthiest and one of the most developed countries in the Eastern Caribbean and enjoys one of the highest per capita incomes in the region. Historically, the Barbadian economy was dependent on sugarcane cultivation and related activities.
Besides bilateral cooperation, China and Barbados are like-minded partners in meeting global challenges. As a small island vulnerable to the climate crisis, Barbados has been an outspoken advocate for concrete climate action. This sense of urgency is echoed by China.
Offshore finance and tourism have been important sources of growth. With strong foundations of economic freedom supported by notable transparency and efficiency, the Barbados government's economic policies are focused on attracting international companies.
In addition to gorgeous beaches, rich marine life, and breathtaking coastal scenery, Barbados is famed for the dramatic Harrison's Cave, a limestone cavern discovered in the 18th century, just outside the village of Holetown. You can travel through the cave system, which stretches a mile long, by electric tram.