Editing Nevis (section)

== Economy ==
[[File:Nevis montravers2.jpg|thumb|upright=1|An African [[Adansonia digitata|baobab tree]] by a ruin at Mountravers Estate, a former plantation that produced, on average, 110 [[hogshead]]s, about {{convert|30,000|kg|lb|order=flip|disp=or}} of sugar and around {{convert|7,250|impgal|L|abbr=off}} of rum annually<ref name="Bristol" />]]
[[File:Nevis Montravers1.jpg|thumb|upright=1|Nevis Heritage Trail sign at Mountravers Estate]]
The official currency is the [[Eastern Caribbean dollar]] (EC$), which is shared used by the eight member countries of the Eastern Caribbean Central Bank.<ref name="p684">{{cite web | last=Bank | first=Eastern Caribbean Central | title=Currency | website=Eastern Caribbean Central Bank | url=https://www.eccb-centralbank.org/currency | access-date=2024-09-21}}</ref><ref>{{Cite web |last=Chen |first=James |date=13 September 2022 |title=XCD (Eastern Caribbean Dollar): What it Means, How it Works |url=https://www.investopedia.com/terms/x/xcd-eastern-caribbean-dollar.asp#:~:text=XCD%20is%20the%20symbol%20for,Saint%20Vincent%20and%20the%20Grenadines. |access-date=10 August 2024 |website=Investopedia}}</ref>

The [[European Commission|European Commission's Delegation]] in Barbados and the Eastern Caribbean estimates the annual per capita [[Gross Domestic Product]] (GDP) on Nevis to be about 10 per cent higher{{When|date=November 2018}} than on St. Kitts.<ref name="EU">[http://www.delbrb.ec.europa.eu/en/eu_and_country/stkitts_overview.htm "EU & the Eastern Caribbean: St Kitts and Nevis Overview"] {{Webarchive|url=https://web.archive.org/web/20070916125701/http://www.delbrb.ec.europa.eu/en/eu_and_country/stkitts_overview.htm |date=16 September 2007 }}. The European Commission's Delegation in Barbados and the Eastern Caribbean. Retrieved 8 August 2006.</ref>

===Tourism===
The major source of revenue for Nevis as of 2023 according to [[International Monetary Fund|IMF]] is tourism.<ref>{{Cite journal |last=Dept |first=International Monetary Fund Western Hemisphere |date=2023-03-31 |title=St. Kitts and Nevis: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for St. Kitts and Nevis |url=https://www.elibrary.imf.org/view/journals/002/2023/130/article-A001-en.xml |journal=IMF Staff Country Reports |language=en |volume=2023 |issue=130 |doi=10.5089/9798400239748.002.A001 |doi-broken-date=2 November 2024 |access-date=16 March 2024 |archive-date=16 March 2024 |archive-url=https://web.archive.org/web/20240316073503/https://www.elibrary.imf.org/view/journals/002/2023/130/article-A001-en.xml |url-status=live }}</ref> During the 2003–2004 season, approximately 40,000 tourists visited the island.<ref>[https://www.cia.gov/the-world-factbook/countries/saint-kitts-and-nevis/ CIA Factbook] {{Webarchive|url=https://web.archive.org/web/20201205061139/https://www.cia.gov/library/publications/resources/the-world-factbook/geos/sc.html |date=5 December 2020 }} (2006). Retrieved 8 August 2006.</ref> A five-star hotel ''(The Four Seasons Resort Nevis, West Indies)'', four exclusive restored plantation inns, and several smaller hotels including Oualie Beach Resort are currently in operation.<ref>{{cite web |url=http://www.oualiebeach.com/ |title=Oualie Beach Resort - Nevis Hotel |publisher=Oualiebeach.com |date= |accessdate=2022-08-06 |archive-date=20 July 2019 |archive-url=https://web.archive.org/web/20190720002651/https://www.oualiebeach.com/ |url-status=live }}</ref> Larger developments along the west coast have recently{{When|date=November 2018}} been approved and are in the process of being developed.<ref>[http://www.caribbeannetnews.com/cgi-script/csArticles/articles/000015/001529.htm "Developers pay US$10m installment for Nevis land"] {{Webarchive|url=https://web.archive.org/web/20060808184040/http://www.caribbeannetnews.com/cgi-script/csArticles/articles/000015/001529.htm |date=8 August 2006 }}. Caribbean Net News, 9 May 2006. Retrieved 8 August 2006.</ref>

===Offshore banking===
The introduction of secrecy legislation has made [[Offshore Financial Centre|offshore financial services]] a rapidly growing economic sector in Nevis. Incorporation of companies, international insurance and reinsurance, as well as several international banks, trust companies, asset management firms, have created a boost in the economy.<ref name="Finance"/> During 2005, the Nevis Island Treasury collected $94.6 million in annual revenue, compared to $59.8 million during 2001.<ref>[http://www.queencitynevis.com/news2.asp?pressId=339 "Employment on Nevis increases"]{{Dead link|date=April 2020 |bot=InternetArchiveBot |fix-attempted=yes }} (2006). Nevis Island Government Press Release, May 2006. Retrieved 8 August 2006.</ref>

In 1998, 17,500 international banking companies were registered in Nevis. Registration and annual filing fees paid in 1999 by these entities amounted to over 10 per cent of Nevis' revenues.<ref name="EU" /> The offshore financial industry gained importance during the financial disaster of 1999 when [[Hurricane Lenny]] damaged the major resort on the island, causing the hotel to be closed down for a year and 400 of the 700 employees to be laid off.<ref name="EU" />

In 2000, the [[Financial Action Task Force]], part of the [[Organisation for Economic Co-operation and Development]] (OECD), issued a blacklist of 35 nations which were said to be non-cooperative in the campaign against tax evasion and [[money laundering]]. At the time, the list included the [[Federation of Saint Kitts and Nevis]],<ref>See articles in the  [http://news.bbc.co.uk/1/hi/business/806236.stm BBC] {{Webarchive|url=https://web.archive.org/web/20090222182151/http://news.bbc.co.uk/1/hi/business/806236.stm |date=22 February 2009 }}, [http://www.islandsun.com/archives/2001-January/100101/local1-v4i38.html Island Sun] {{Webarchive|url=https://web.archive.org/web/20061019074856/http://www.islandsun.com/archives/2001-January/100101/local1-v4i38.html |date=19 October 2006 }}, and [http://www.theroyalgazette.com/apps/pbcs.dll/article?Date=20020422&Category=BUSINESS&ArtNo=104220017&Ref=AR The Royal Gazette] {{Webarchive|url=https://web.archive.org/web/20060630103641/http://www.theroyalgazette.com/apps/pbcs.dll/article?Date=20020422&Category=BUSINESS&ArtNo=104220017&Ref=AR |date=30 June 2006 }}. Retrieved 8 August 2006.</ref> although the country was subsequently removed following various reforms.<ref name=FATF2023List>{{cite web|title=Black and Grey Lists|url=https://www.fatf-gafi.org/en/countries/black-and-grey-lists.html|website=Fatf-gafi.org|date=2023|publisher=Financial Action Task Force|access-date=30 July 2023|archive-date=1 July 2023 |archive-url=https://web.archive.org/web/20230701063728/https://www.fatf-gafi.org/en/countries/black-and-grey-lists.html}}</ref>