Bahamian FDI receipts lead global counterparts despite global pandemic

The Bahamas has topped the list as the most attractive destination for Foreign Direct Investments (FDIs) among the Small Island Development States (SIDS), even amid what is now being termed the worst economic decline ever experienced on a global scale in the last century.

This is according to figures detailed in the yearly World Investment Report 2021, published by United Nations Commission on Trade and Development (UNCTAD), a report detailing 2020 trade trends within the region and on a global scale.

During the economic decline brought on by the pandemic, the rate of FDI inflows from the rest of the world into the SIDS region fell by 40.3% globally, while inflows from the Caribbean fell by 36%. 

However, in spite of the adversarial economic situation, FDI inflows into the Caribbean rose by 47%, from 2019’s US$611m to US$897m. 

Barbados and Grenada followed the Bahamas’ trend of growth, rising 22% to US$262m and 11% to $146 million respectively. 

On the other hand, St Kitts and Nevis experienced a decline in inflows, falling by 45% and 47% respectively.

The figures reveal the persistence of investor confidence in the Bahamas, despite global adverse economic circumstances.