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Vision 2040 sets two "macroeconomic" or overarching goals for the U.S. Virgin Islands. The first is to reach full employment by 2030, which does not mean that everyone has a job; rather, no one is jobless unless they do not want to be employed.
The second macroeconomic goal is to achieve economic stability by 2040. This means that growth and prosperity have taken root, there are no excessive fluctuations in GDP, and prices for goods and services are reasonable, manageable, and stable.
Vision 2040 also establishes eight (8) aspirational goals to help the U.S. Virgin Islands achieve these macroeconomic goals. These goals relate to the target industries detailed here.
Agriculture
Increase locally sourced food from 3% to 35% of local food demand. Agriculture-related industrial production will increase from 2% of GDP to represent 5% of GDP.
The U.S. Virgin Islands will become a Blue Economy research center of excellence in the world for ocean-based tropical environments.
Blue Economy
Healthcare
Healthcare and health sciences will increase from 7% of GDP to 15% of the U.S. Virgin Island’s overall GDP.
Entrepreneurs will have access to support and capital to scale their businesses and the annual net change in establishments will increase from 14 (2019) to 50 establishments.
Blue Economy
Population
Population in the U.S. Virgin Islands will increase 10% from the official 2020 U.S. Census.
Renewable sources of energy will represent 75% of total energy consumption, up from the 1% that they represent currently
Renewable energy
Education
The U.S. Virgin Islands will have the highest quality education system in the Caribbean and the University of the Virgin Islands will attract and retain the highest caliber science and technology talent
Extended stay visits, authentic experiences, and cultural offerings will increase from 63% of tourism-related revenue to 75%.
tourism
Vision 2040 identifies eight (8) target industries based on their potential to contribute to economic diversification through growth and job creation in the U.S. Virgin Islands.
S ervices T echnology E nergy A griculture M anufacturing
Be part of the solution and let us know if you would like to be involved in the implementation of the Vision 2040; involved in future events and conversations; or want to share other ideas with the Vision 2040 team. Click below to contact us!
St. Croix
St. Thomas/St. John
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