Barbados is set to strengthen its tourism and investment landscape with the introduction of new legislation to regulate timeshare and fractional ownership arrangements, Minister of Tourism Ian Gooding-Edghill announced on Thursday.
The legislation, recently approved by Cabinet, will provide a clear legal framework for both ownership models. While timeshare arrangements typically allow individuals to use a holiday property for a specific period each year without owning part of the property, fractional ownership offers a share in the property’s title—granting more significant ownership rights and potential value appreciation.
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“This is a long-term tourism strategy,” Gooding-Edghill said during a post-Cabinet briefing at Ilaro Court. “A well-regulated timeshare and fractional ownership industry will not only boost investor confidence, but also attract more high-end visitors to Barbados.”
Key Goals of the Legislation:
- Increase investor confidence and attract high-value tourism.
- Protect consumers by regulating advertising practices and ensuring transparent contractual agreements.
- Clarify rights and processes, including contract withdrawals and redress mechanisms.
- Define standards for long-term holiday products and their related contracts.
- Introduce licensing and oversight to ensure responsible industry practices.
According to the minister, the initiative is expected to stimulate both visitor arrivals and foreign investment, particularly by appealing to repeat visitors who prefer consistent and flexible accommodation options. “Timeshare owners visit destinations multiple times a year,” he noted, “and this provides a great opportunity to boost arrivals and longer stays.”
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In shaping the legislation, the Ministry of Tourism engaged a broad range of stakeholders, including the Barbados Hotel and Tourism Association, Intimate Hotels of Barbados, Barbados Tourism Investment Inc., the Fair Trading Commission, and the Ministry of Energy and Business. Their input helped ensure the legislation is comprehensive and aligned with industry needs.
Gooding-Edghill also pointed out that Barbados is not alone in this move, citing Jamaica and The Bahamas as regional counterparts that have already introduced similar regulatory frameworks.
“We are confident that this policy direction will further strengthen Barbados’ tourism product and make the island even more attractive to both visitors and investors,” the minister added.
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