Dominica, officially known as the Commonwealth of Dominica, is a sovereign island-country located in the Eastern Caribbean. Previously a British Colony, Dominica gained its independence in 1978. Today, it is an independent nation and a parliamentary democracy within the Commonwealth of Nations and a member of the Caribbean Community (CARICOM).
Dominica is known for its beautiful nature, lush mountains, and spectacular coastline. It is largely covered by rainforest and is home to the world’s second-largest hot spring, Boiling Lake. These features have won Dominica its nickname, “The Nature Island of the Caribbean.” The island is especially popular with visitors from cruise ships sailing the Caribbean.
But tourism and agriculture aren’t Dominica’s only offerings. The country is also a popular destination for financial services. In recent years, the increased development in the country has led major international banks such as the Royal Bank of Canada and Scotiabank to establish branches in Dominica as part of their operations in the Caribbean.
At A Glance
Eastern Caribbean Dollar (XCD)
Key Economic Sectors
Unitary parliamentary republic