Barbados has secured an additional US$56 million (BDS$112 million) from the International Monetary Fund (IMF) following a successful fourth programme review. This development underscores the nation’s impressive economic performance and strides in climate resilience under its homegrown economic recovery plan, BERT 2022. The new disbursement comprises US$19 million (BDS$38 million) under the IMF’s...
Barbados, known for its stunning beaches, vibrant culture, and luxurious resorts, is about to welcome a new gem to its West Coast—The Blue Monkey Hotel & Beach Club. Set to open its doors in March 2025, this chic boutique hotel promises to offer an exclusive experience that redefines luxury in Barbados. A Perfect Blend of Luxury and Intimacy Nestled along the breathtaking Paynes Bay...
The Caribbean is gearing up to host a range of exquisite new resorts in 2025, promising travelers unmatched experiences in some of the world’s most breathtaking destinations. From private island retreats to vibrant beachfront escapes, these developments showcase the pinnacle of luxury, leisure, and adventure. Here’s an exclusive look at some of the most anticipated openings across the region. Four...
The Caribbean Hotel and Tourism Association (CHTA) hosted its much-anticipated Caribbean Hospitality Industry Exchange Forum (CHIEF) in Miami last month, uniting hospitality and tourism leaders from across the region. Under the theme “Keeping It Real: Amplifying Caribbean Tourism through Authenticity, Integration, and Immersion,” CHIEF 2025 spotlighted the growing importance of creating genuine...
The Caribbean has emerged as a top choice for global holiday travelers in 2024, with destinations across the region seeing impressive growth in hotel occupancy rates and average daily rates (ADR). Amadeus’ Demand360® data, as of December 2, 2024, highlights a shift in global travel patterns for the festive season, underscoring the Caribbean’s appeal alongside strong growth in the Asia Pacific...
Jamaica is spearheading a transformative wave in Caribbean tourism by pivoting toward high-end offerings. This new direction, emphasized during a groundbreaking conference on branded real estate development on December 4, highlights Jamaica’s ambition to redefine its hospitality landscape. Held at the Montego Bay Convention Centre, the event showcased the $450-million Montego Bay Pinnacle luxury project...
The Caribbean Development Bank (CDB) has once again proven its financial resilience and commitment to regional development. On November 27, 2024, S&P Global Ratings reaffirmed the Bank’s stellar ‘AA+/Stable/A-1’ credit ratings, reflecting its robust financial standing and prudent management practices. In its announcement, the CDB expressed satisfaction with the affirmation, noting that the...
In January, the Central Bank of Barbados shared an optimistic review of the nation’s economic performance for 2023. Governor Dr. Kevin Greenidge reported a 4.4 percent growth in GDP, marking eleven consecutive quarters of real economic expansion. For the first time since the pandemic, GDP surpassed pre-pandemic levels in both nominal and real terms. The tourism sector was pivotal to this recovery, with...
Barbados is paving the way for dynamic international collaborations, as Prime Minister Mia Amor Mottley recently held discussions with Russian Ambassador Alexander Kurmaz and India’s non-resident High Commissioner to Barbados, Shri Subhash Prasad Gupta. The talks focused on a wide range of topics, including skill development, economic opportunities, and the future of Barbados’ healthcare and...
Barbados proudly celebrates the appointment of Daniel Best as the seventh president of the Caribbean Development Bank (CDB). The CDB’s board of governors announced the historic decision on Wednesday, marking a pivotal moment for the institution and the region. In its official statement, the CDB emphasized Best’s extensive expertise and visionary leadership. “This decision underscores the bank’s...