Over 300 investors, tourism officials, and industry leaders gathered in Barbados this week for the island’s inaugural hosting of the Caribbean Hotel Investment Conference and Operations Summit (CHICOS).
During the November 13–15 event, held at the Wyndham Grand Barbados Sam Lord’s Castle, Minister of Tourism Ian Gooding-Edghill encouraged participants to explore the abundant investment opportunities available in Barbados and its neighboring Caribbean territories.
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Welcoming attendees on Wednesday evening, Gooding-Edghill highlighted the significance of hosting CHICOS as a milestone for Barbados, signaling a push to diversify its tourism offerings and attract further investment.
“I encourage all of you to network and build meaningful connections as you explore the wealth of investment opportunities here in Barbados and across our neighboring territories represented today. Through collaboration, let us create a bright and sustainable future for Caribbean tourism,” he stated.
Lucrative Incentives for Investors
To attract investment, the minister outlined several competitive incentives, including:
- A tax holiday of up to 25 years, followed by a 50% reduction in taxes for an additional 15 years.
- Exemptions from import duties and environmental levies on furniture, fixtures, equipment, and building materials.
These measures, he emphasized, position Barbados as a prime destination for both local and international investors.
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Major Tourism Projects in the Spotlight
Among the transformative developments underway is the Carlisle Bay redevelopment project, situated near a UNESCO World Heritage site. This ambitious initiative aims to enhance urban infrastructure, support local communities, and establish sustainable livelihoods. The project will feature:
- A performing arts and conference facility.
- Approximately 1,500 new hotel rooms.
- A marina and entertainment facilities.
- Over two kilometers of beachfront access.
Other notable projects include the opening of Hotel Indigo in early 2025 and the Royalton CHIC Resort in spring 2026, which reflect Barbados’ commitment to meeting the growing demand for luxury travel experiences.
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Tourism Growth and Expanded Connectivity
Andrea Franklin, CEO of Barbados Tourism Marketing Inc. (BTMI), reported significant visitor growth, with over 509,673 arrivals recorded between January and September 2024. She credited strategic airlift expansions and enhanced cruise operations for reinforcing Barbados’ reputation as a premier travel destination.
Recent air connectivity upgrades, such as new Delta Airlines routes from Philadelphia and New York’s JFK Airport, were highlighted as drivers of economic and cultural exchange.
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CHICOS: A Hub for Caribbean Hospitality
As the Caribbean’s leading hospitality industry event, CHICOS offers a platform for stakeholders to discuss the region’s tourism future. CHICOS Chairman Parris Jordan described the summit as a valuable opportunity for attendees to deepen their understanding of the Caribbean hospitality market.
“We have a lot of panels and presentations that will provide insights into both Barbados and the broader Caribbean,” Jordan noted.
The conference underscores Barbados’ position as a high-quality Meetings, Incentives, Conferences, and Exhibitions (MICE) destination, supported by robust infrastructure and new facilities like the Wyndham Grand Barbados at Sam Lord’s Castle.
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