Description of Virgin Islands (u.s.a.)
It’s been a tale of relentless doom and gloom for the US Virgin Islands over recent years – almost unthinkable when you see just how stunning the region as a whole is. Since 2008, average property values in St. Thomas plummeted by close to 50 per cent and things didn’t fare much better in St. John. On the plus side, signs of recovery are starting to show through and the general economic outlook for the coming years is much more optimistic. It still remains an expensive nation in which to invest and buying costs are on the high side, but low income tax of 10 per cent helps restore balance. Tourist numbers have already breached the 2 million per year mark and things are accelerating like never before – over 80 per cent of the area’s entire GDP is generated by tourism.