The World Bank forecasts that Barbados will achieve a 3.9% economic growth rate this year, followed by a projected 2.8% in 2025. These predictions are part of the World Bank's economic review, Taxing Wealth for Equity and Growth, released on Wednesday. The report also anticipates Barbados' economy to grow by an additional 2.3% in 2026. The analysis further reveals that economic growth across Latin...
The upcoming SIAL Paris 2024 will showcase 26 remarkable Caribbean brands under the ‘Absolutely Caribbean’ pavilion, featuring companies from Barbados, Haiti, Jamaica, Saint Lucia, and Trinidad and Tobago. These brands will bring a taste of the islands to the world stage, offering an array of products such as sauces, condiments, chocolate, coffee, and cakes. The world’s largest food tradeshow,...
Barbados is set to host the 2024 Caribbean Hotel Investment Conference & Operations Summit (CHICOS) from November 13–15 at the Wyndham Grand Barbados Sam Lord’s Castle All-Inclusive Resort. This prestigious event is expected to boost the local hotel industry and stimulate economic growth. “We are thrilled to partner with the Barbados government and Wyndham Hotels & Resorts for CHICOS’...
From April to July 2024, the Central Bank of Barbados (CBB) engaged in in-depth discussions with local financial institutions, the World Bank, and other key stakeholders to assess and enhance the country's payments infrastructure. These talks focused on reviewing the current legal and regulatory framework, with an emphasis on improving Barbados' Real-Time Payments (RTP) system. As part of this effort,...
In a moment of celebration and recognition for entrepreneurial excellence, TMT Transport Services, owned by Andrew Fitzpatrick, was honored with the prestigious Small Business of the Year Award at the annual Small Business Association (SBA) Awards. This accolade not only underscores the company’s innovative approach to moving services but also showcases the vibrant investment landscape in...
Barbados has launched the Bridgetown Initiative 3.0, a comprehensive strategy aimed at transforming the global financial system to better serve climate-vulnerable nations. The initiative seeks to generate $1 trillion in new funding, largely through taxing major carbon emitters and the super-wealthy, to combat the pressing challenges of climate change, debt, and inequality. Announced on September 27,...
The Caribbean Tourism Organisation (CTO) has announced plans to reignite its marketing efforts across the UK and Europe. This initiative marks a significant partnership with the CTO Chapter in these regions, which includes over 85 travel-related companies and organisations. The UK & Europe Chapter is set to roll out a series of marketing campaigns aimed at engaging consumers, the travel industry,...
Pop star and entrepreneur Rihanna has announced the upcoming launch of her renowned beauty brands—Fenty Beauty, Fenty Skin, and Fenty Fragrance—across the Caribbean region. Starting October 24, 2024, her products will be available in nine island nations, including her native Barbados. Rihanna shared the news via a video message on her social media, expressing her excitement about bringing her...
The Caribbean is experiencing a robust revival in tourism, with Barbados emerging as a key leader alongside Cuba, Puerto Rico, Jamaica, and St. Lucia. These islands are revitalizing the region’s appeal through a mix of rising hotel occupancy rates, new airline routes, and a booming cruise industry, positioning the Caribbean as one of the world’s most sought-after destinations in 2024. Barbados: The...
Hyatt’s much-anticipated Centric brand is finally making its debut in the Caribbean, and it’s coming to the heart of the Dominican Republic. After years of speculation and rumors about possible locations in Barbados and Puerto Rico, the first Hyatt Centric hotel in the region is set to open in Santo Domingo. The Hyatt Centric Santo Domingo is scheduled to welcome guests in spring 2025. Located in...