The economy of Antigua and Barbuda's is service-based, with tourism and government services representing the key sources of employment and income. Tourism accounts directly or indirectly for more than half of GDP and is also the principal earner of foreign exchange in Antigua and Barbuda.
St. John's is one of the most developed and cosmopolitan municipalities in the Lesser Antilles. The city is famous for its various shopping malls as well as boutiques throughout the city, selling designer jewelry and haute-couture clothing. There are also many independent, locally-run establishments, selling a variety of fashions. The investment banking industry has a strong presence in the city. Many major world financial institutions have offices in St. John's.
Saint John's has an overall cost of living index which equates it with low cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups. Saint John's is currently ranked 227 overall, most expensive place in the world for expatriates to live, out of 282 international locations.
The cost of living overview for each of the 13 Basket Groups is as follows:
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