News Americas, New York, NY, May 15, 2025: Wondering how economically free Caribbean nations are? According to the 2025 Index of Economic Freedom from The Heritage Foundation, the region is mostly economically free, with several countries outperforming both global and regional averages.
BarBarbados leads the region with a score of 68.9, ranking 36th globally out of 184 countries and 5th in the Americas, placing it firmly in the “moderately free” category. It is followed closely by Jamaica (68.7, 38th) and Saint Lucia (67.0, 47th), showcasing the region’s continued push for open markets, efficient regulations, and growth-friendly policies.
The Bahamas, with its tax-free model and steady macroeconomic management, ranks 72nd globally with a score of 63.2, also considered “moderately free.” While still performing above global and regional averages, institutional improvements are needed to ensure sustainable economic growth.
Here’s how Caribbean nations ranked in the 2025 Index of Economic Freedom:
- Barbados – 68.9 (36th globally)
- Jamaica – 68.7 (38th)
- Saint Lucia – 67.0 (47th)
- Dominican Republic – 64.3 (65th)
- Belize – 64.2 (66th)
- Trinidad and Tobago – 63.6 (69th)
- The Bahamas – 63.2 (72nd)
- Saint Vincent and the Grenadines – 60.1 (87th)
- Guyana – 58.2 (99th)
- Dominica – 55.3 (116th)
- Suriname – 50.9 (144th)
- Haiti – 46.1 (163rd)
- Cuba – 25.4 (175th)
At the bottom of the list, Cuba and Haiti are classified as “repressed” economies, facing entrenched challenges such as rigid state control, corruption, and weak legal institutions.
Despite variations in rankings, most Caribbean nations fall within the “moderately free” category, signaling a generally positive outlook for investment, private-sector growth, and economic development in the region.
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