On August 23, 2024, at the CAPA Airline Leader Summit for Latin America & the Caribbean, Rosa Harris, Chairman of the Caribbean Tourism Organisation (CTO), emphasized the increasing demand for premium and luxury travel across the Caribbean region. Harris remarked that there is currently "a lot more money" in the Caribbean travel market, highlighting the need for the tourism sector to strategically...
Caribbean hotel occupancy experienced fluctuations in 2024, largely due to the impact of Hurricane Beryl. While the first half of the year saw consistent growth in occupancy, with a peak of 71.3% by June, July saw a decline of 1.9% in occupancy compared to the previous year. This dip was attributed to the direct effects of Hurricane Beryl, which caused significant disruptions across several islands,...
Rosewood Hotels & Resorts has unveiled its latest jewel in the Caribbean, Rosewood Exuma, a secluded private island experience set in the stunning Exumas archipelago. Partnering with Miami-based investment firm Yntegra Group, Rosewood aims to redefine luxury and sustainability in this pristine Bahamian locale. Situated on the serene East Sampson Cay, Rosewood Exuma spans 124 acres of untouched...
In response to recent concerns regarding the Central Bank of Barbados' economic report and analysis, the institution has reiterated its commitment to accuracy, transparency, and public trust—principles that have been foundational throughout its 50-plus-year history. The Central Bank emphasizes the vital importance of precise, transparent, and objective economic reporting in maintaining public confidence...
The Caribbean Tourism Organization (CTO) has announced the preliminary roster of speakers for its upcoming State of the Industry Conference (SOTIC) in Grand Cayman, set to take place early next month. This year’s conference, held at the Westin Grand Cayman Seven Mile Beach Resort and Spa, is centered around the theme "Caribbean Tourism: Fueling Our Lifeblood." The theme underscores the critical...
Fortress Fund Managers (FFM) may see significant benefits for their Barbados dollar funds as global interest rates begin to decline. In FFM's June 2024 quarterly report, it was highlighted that the Fortress Caribbean Growth Fund, the Fortress Caribbean High Interest Fund, and the Fortress Caribbean Pension Fund are well-positioned to take advantage of this global trend. View Commercial Properties...
The Government of Barbados is crafting a comprehensive modern industrial policy aimed at strengthening local manufacturers and enhancing their ability to compete in international markets. This announcement was made by Minister of Industry, Innovation, Science, and Technology, Marsha Caddle, during the Barbados Manufacturers’ Association’s (BMA) 60th anniversary Mix & Mingle event at Hayman’s...
Caribbean Real Estate News: Highlights and Insights Luxury Real Estate Boom: The Caribbean continues to be a hotspot for luxury real estate, with significant projects in the Cayman Islands, Bahamas, and Barbados. The Cayman Islands, known for its favorable tax environment and strong demand for luxury properties, remains resilient despite global economic challenges. The Bahamas is experiencing a shift...
In 2024, Barbados emerged as a key contributor to the growth of air traffic in the Caribbean, driven by a remarkable recovery in its tourism sector. The Grantley Adams International Airport (GAIA) played a pivotal role, witnessing a significant rise in passenger numbers as the island’s tourism industry rebounded from the disruptions of previous years. Monthly arrivals at GAIA consistently surpassed...
The Caribbean's access to African markets is set to expand significantly, thanks to a new partnership between the Caribbean Export Development Agency (Caribbean Export) and the African Export-Import Bank (Afreximbank). This collaboration, formalized through a Memorandum of Understanding (MoU), aims to strengthen ties in crucial areas such as capacity building, information exchange, trade facilitation, and...