Anguilla

Let's start with the beautiful Caribbean island of Anguilla, which was colonized by English settlers from St. Kitts in 1650.

Anguilla was administered by Great Britain until the early 19th century, when the island - against the wishes of the inhabitants - was incorporated into a single British dependency, along with Saint Kitts and Nevis. Several attempts at separation failed. In 1971, two years after a revolt, Anguilla was finally allowed to secede; this arrangement was formally recognized in 1980, with Anguilla becoming a separate British dependency.

Anguilla has few natural resources, and the economy depends heavily on luxury tourism, offshore banking, lobster fishing, and remittances from emigrants. Increased activity in the tourism industry, which has spurred the growth of the construction sector, has contributed to economic growth. Anguillan officials have put substantial effort into developing the offshore financial sector, which is small, but growing. In the medium term, prospects for the economy will depend largely on the tourism sector and, therefore, on revived income growth in the industrialized nations as well as on favorable weather conditions.