Prime Minister Gaston Browne has announced a landmark achievement for Antigua and Barbuda’s economy, revealing that the nation’s construction industry has expanded dramatically to reach a valuation of $900 million. This figure represents a threefold increase, underscoring a period of exceptional growth over the past ten years.
The announcement, made during a national address, highlights the sector’s transformation into a critical pillar of the country’s economic framework. The Prime Minister attributed this unprecedented expansion to a combination of strategic public infrastructure projects, a surge in private foreign direct investment, and a robust residential housing market driven by the Citizenship by Investment Program (CIP).
This sustained boom has yielded significant socioeconomic benefits, including substantial job creation across various skill levels and a notable boost to ancillary industries such as manufacturing, quarrying, and retail. The government’s policy of fostering an investor-friendly environment is cited as a key catalyst for this growth, encouraging large-scale developments in tourism, commercial real estate, and luxury housing.
The sector’s performance is widely regarded as a bellwether for the nation’s overall economic health, with its success creating a positive multiplier effect throughout the local economy. This decade of expansion not only demonstrates resilience but also positions the construction industry as a fundamental driver of Antigua and Barbuda’s continued development and prosperity.