Situated just east of Puerto Rico, the U.S. Virgin Islands are a U.S. territory with a population of around 100,000 that includes the islands of St. Thomas, St. Croix, and St. John. The economy of the U.S. Virgin Islands has been sluggish, partly owing to the closure in 2012 of the Hovensa oil refinery, which had been a large and important employer. Tourism has long been the major industry on the tropical islands. Hurricanes Irma and Maria in 2017 hit the islands and the local economy hard—particularly the tourism sector. Like Puerto Rico, the islands are under fiscal stress. While the U.S. Virgin Islands have not defaulted on debt payments, public debt is high and market access for borrowing is limited.
Economic and Demographic Trends
| U.S. Virgin Islands | Puerto Rico* | USA | |||
| Population1 | 107,000 | 3,194,000 | 328,240,000 | ||
| Pop growth, 10-year change1 | -1.6% | -15.0% | 7.0% | ||
| GDP, billions1 | $4 | $105 | $21,433 | ||
| Job growth, 5-year change1 | -2.0% | -3.1% | 8.6% | ||
| Median household income1 | n/a | $20,230 | $65,000 | ||
| Median home price1 | n/a | $100,000 | $200,000 | ||
| Pop share age 25+ with BA+1 | n/a | 27.2% | 33.1% |
