In 2021, Saint Lucia inherited an economy described as “the worst performing in the Caribbean and fifth worst in the world.” Yet, through a deliberate strategy under the leadership of Prime Minister Philip J. Pierre, the government stabilized the economy, restored investor confidence, and reignited growth across every major sector.
GDP growth reached 3.3% in 2023 and rose to 4.7% in 2024. Public debt was reduced from over 90% to 74% of GDP, an extraordinary feat amid global uncertainty. Across the island, signs of prosperity are visible: road repairs, new hotels, revitalized ports, bustling airports, and expanded job opportunities.
The tourism sector, a central pillar of Saint Lucia’s economic recovery, has recorded XCD 7.4 billion in investment between 2021 and 2025, generating over 23,000 jobs. Notably, nearly 80% of that investment came from Saint Lucian nationals, demonstrating growing local ownership in the tourism economy.
The government’s Community Tourism Agency has empowered entrepreneurs across the island, disbursing over $3.4 million in loans and grants to small and medium enterprises. From Soufriere to Micoud, local businesses are creating jobs and shaping new community experiences.
Major projects, such as the A’ILA Resort at Mount Pimard, the Dreams Resort in Canelles, the expansion of Baron Foods in Vieux Fort, and the redevelopment of Port Castries through Global Port Holdings, are transforming Saint Lucia’s economic landscape. In the north, the Rodney Bay City Centre and the Courtyard by Marriott are redefining the island’s commercial and hospitality infrastructure.
Unemployment fell to just over 10% in 2024, the lowest in a decade. Thousands of Saint Lucians have found work in construction, hospitality, logistics, and emerging industries. A historic milestone was achieved with the introduction of Saint Lucia’s first-ever National Minimum Wage, guaranteeing fairness and dignity for every worker.
Looking ahead, the Minister outlined transformative projects such as the Marquis Estate regeneration project, the Cote De Reve eco-luxury resort in Vieux Fort, the Grand Hyatt in Choiseul, and the Selene Hotel at Vigie Beach all poised to define the next decade of growth.
Beyond tourism, the government is laying the foundation for emerging sectors in renewable energy, logistics, and regulated substances, positioning Saint Lucia to lead in sustainability and innovation.
The Minister underscored that the full benefits of these initiatives can only be realized through continuity. The stability, discipline, and leadership that have guided the country’s recovery must remain intact for the next chapter of Saint Lucia’s investment renaissance to unfold.
“Our story since 2021 proves that with vision, discipline, and partnership, small nations can achieve great things,” the Minister affirmed. “The best investment we can ever make is in Saint Lucia herself. Let us move forward together with stability ensured and leadership strengthened.”
The message is clear: sustaining growth requires sustaining the government that built the foundation for it. Under consistent leadership, Saint Lucia’s journey from recovery to renewal can become a lasting legacy, one where prosperity is shared by all.
By Caribbean Writers