(BVI News) The British Virgin Islands has been listed as the most competitive financial centre in the Caribbean and Latin America.
They received this rating in the 29th edition of the biannual Global Financial Centres Index — which ranks competitiveness based on a global online survey of more than 10,000 respondents who evaluate 126 financial services centres worldwide.
The territory ranked 58th on the index, outperforming other regional jurisdictions such as Barbados who was the closest behind at 64th.
The BVI improved its standing by 14 places.
“It is good to see the BVI increase its ranking in this global index. This is testament to the continued hard work of our outstanding financial services sector and the BVI’s world-class and progressive financial regulatory regime,” said the CEO of BVI Finance, Elise Donovan.
The territory’s improved ranking on the global index comes as the BVI grapples with the ongoing COVID-19 pandemic that crippled the tourism sector.