A Long Road to Economic Recovery for the U.S. Virgin Islands

Jason Bram and Jonathan Hastings

No 20131115, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: The U.S. Virgin Islands are a small and unique component of the Second Federal Reserve District. Situated just east of Puerto Rico, the islands of St. Thomas, St. Croix, and St. John are home to roughly 106,000 residents—less than one-thirtieth of Puerto Rico’s population—and make up a territory of the United States. Yet the U.S. Virgin Islands are often ranked as the Caribbean’s top vacation destination on U.S. soil. In this post, we briefly describe the structure of the local economy and look at trends and developments over the years—especially the past few years, during which the islands lost a major employer and endured a prolonged and wrenching economic downturn . . . that now appears to be bottoming out.

Keywords: Virgin Islands; Puerto Rico; employment; economic conditions; tourism; population (search for similar items in EconPapers)
JEL-codes: R1 (search for similar items in EconPapers)
Date: 2013-11-15
References: Add references at CitEc
Citations:

Downloads: (external link)
https://libertystreeteconomics.newyorkfed.org/2013 ... -virgin-islands.html Full text (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fednls:86905

Ordering information: This working paper can be ordered from

Access Statistics for this paper

More papers in Liberty Street Economics from Federal Reserve Bank of New York Contact information at EDIRC.
Bibliographic data for series maintained by Gabriella Bucciarelli ().