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...
Plans are underway to welcome smaller cruise ships to Speightstown as early as the upcoming cruise season, Member of Parliament for St. Peter, Colin Jordan, has revealed. The initiative aims to revitalise the historic town and boost economic activity. Speaking at the annual general meeting of the Barbados Labour Party’s St. Peter branch at The Alexandra School, Jordan shared that cruise liners have...
The Caribbean, with its breathtaking landscapes, vibrant cultures, and strategic geographic location, has long been a desirable destination for tourists. However, it is also an exceptional place for investment. Boasting a combination of modern infrastructure, skilled labor, stable economies, and attractive incentive programs, the Caribbean offers a unique and lucrative opportunity for investors. Here are...
Setting up a company in Barbados involves navigating several legal and procedural steps. Whether you're looking to form a Regular Business Company (RBC), an Unincorporated Business, or an External Company, understanding the requirements and processes is crucial for a smooth establishment. Here’s a comprehensive guide to help you get started: Establishing a Regular Business Company or Society with...