Review and Outlook for the U
US Virgin Islands Bureau of Economic Research U.S. Virgin Islands Economic Review and Industry Outlook Bureau of Economic Research (BER) August 2005 Prepared by Lauritz Mills, Director, Bureau of Economic Research (BER) Introduction The US Virgin Islands economy is in the midst of an economic expansion, which is expected to continue into 2006. The Gross Territorial Product is estimated to have grown by 3.0 percent last year and is pro- jected at 3.2 percent for 2005. Remarkably, and in spite of higher oil prices and chal- lenges to the Economic Development Commission (EDC) program posed by the American Jobs Creation Act (H.R. 4520), the economy expanded for the first nine months of fiscal year 2005. The growth is owed to a vibrant tourism sector, with total visitors showing record levels and to strong busi- ness investment and financial services activ- ity. …
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