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As part of the Cerom (Rapid Economic Accounts for Overseas Territories) partnership, the Statistical Office of the Overseas Departments (IEDOM) has released a new estimate of the gross domestic product (GDP) per capita in Saint Barthélemy. An assessment report, based on data from 2023, was published on June 22. The document indicates that in 2023, Saint Barthélemy’s GDP is estimated at 960.5 million euros. “Based on a population of 10,660, the GDP per capita amounts to 90,103 euros,” the report states.
This figure places the island well ahead of other overseas economies and at a level more than twice that observed nationally. Internationally, the island also ranks among the territories with the highest GDP per capita. Nevertheless, this estimate should be viewed with caution.
An “Overestimated” Figure
In fact, the IEDOM press release emphasizes that this estimate of GDP per capita “is, however, overestimated, as seasonal workers contribute significantly to the island’s wealth creation but are not included in the population used for the calculation.” The estimate is also based on a population of fewer than 11,000 residents. However, this figure has not yet been precisely refined. The latest census conducted by the Territorial Collectivity earlier this year should provide more reliable data.
The IEDOM report specifies that the tourism sector accounts for 19.7% of estimated GDP. “Demand for tourist accommodations stimulates the real estate sector, which specializes in the rental and sale of villas, which in turn fuels construction activity (13.8% of GDP),” the document states. “Overall, the value added created by businesses accounts for two-thirds of GDP, while that generated by households accounts for 18% of GDP, primarily from rent.”
Conversely, the value added by public administrations is considered “extremely low,” at 2.2% of GDP. “Fiscal autonomy, combined with the economic boom driven by tourism, provides the local government with significant tax revenues (11.6% of GDP), enabling it to cover its expenses and pursue an ambitious investment policy,” emphasizes the IEDOM, which notes that the territory nevertheless faces structural challenges such as land scarcity, pressure on the real estate market, and the need for more sustainable management of water, energy, and natural resources.
In an online post, Territorial Council President Xavier Lédée responded by writing: “As early as 2022, the Collectivité undertook a major effort to improve the reliability of public data: the creation of a position dedicated to data management, implementing an addressing system, adopting the Information Systems Master Plan (SDSI) and the Digital Usage Master Plan (SDUN), as well as updating the business registry by the department responsible for the CFAE.”
