Economy of Saint Helena

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The economy of Saint Helena is based on export income from coffee, tourism, fishing, and sales of alcoholic liqueurs. Unemployment is very low in Saint Helena; the February 2016 Census stated that 76 people declared that they were unemployed (with 10 claiming unemployment benefit) compared to an economically active population of 2,539 and a total population of 4,534.^[1] Saint Helena is one of four countries which depend on financial assistance from the United Kingdom, which amounted to about £22.5 million in 2016–17. This supplements the £12.6 million raised from local tax revenues.^[2]

The international airport has been open for private jets and Medivac services since 2016. A scheduled commercial air service began in October 2017. With a total investment of £285m the airport is the largest single investment ever made in the island. Until 2016, the only way to reach the island was by boat. The last working Royal Mail Ship made its final voyage serving St Helena in 2018.^[3]

Saint Helena's gross domestic product (GDP) for the 2018–19 financial year was £38.5 million and GDP per capita was £7,392 and GNP per capita was £8,230.^[4] In 2019, there was an annual rate of inflation of 3.3%, and a median employment income was £8,410.^[5]

The major private sector employers of the islands are Solomons and Co and Thorpes, both providing services in almost all sectors.

The government's economic development priorities are developing a sustainable tourism industry and reducing dependency on imports.^[6]