CARICOM member states have made significant strides in their renewable energy (RE) efforts, achieving a commendable 12% RE electricity penetration by 2022. This progress, while falling short of the original goal of 27%, marks a crucial step in the region's energy transition towards sustainability. This milestone was highlighted during a webinar hosted by The Caribbean Centre for Renewable Energy and...
In a recent interview with Vidwat Keshan, Associate Editor of Travel And Tour World, Cheryl Carter, Chief Operations Officer of Barbados Tourism, shared key insights on the island's evolving strategies to enhance its global tourism appeal. Speaking from the Arabian Travel Market (ATM) 2024, Carter discussed the initiatives that are positioning Barbados as a premier destination for luxury weddings, MICE...
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...
Barbados is set to launch its inaugural Battery Energy Storage System (BESS) project, a significant step towards enhancing the country's renewable energy infrastructure. This initiative aims to bolster the electricity grid and facilitate the connection of previously stalled solar photovoltaic (PV) systems. The Ministry of Energy and Business is spearheading a three-day Procurement Design Workshop,...
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...
Caribbean Real Estate News: Highlights and Insights Barbados Real Estate Market: The market in Barbados remains robust, particularly for luxury properties and beachfront developments. Despite global economic fluctuations, high-end investors continue to be attracted to Barbados due to its stability and appeal as a prime vacation and retirement destination. Read about Barbados News – Economy...