Barbados is stepping up its efforts to maximize oil and gas production, unveiling a bold energy strategy that blends innovation with sustainability. The government is introducing advanced recovery techniques and carbon capture initiatives to revitalize the nation’s energy sector while ensuring environmental responsibility. Revamping Onshore Wells for Greater Efficiency Minister of Energy and...
Barbados is taking a bold step toward modernizing governance with the appointment of Senator Jonathan Reid as the new Minister of Industry, Innovation, Science, and Technology (MIST). During a brief swearing-in ceremony at State House, Reid was officially sworn in by President Dame Sandra Mason, marking a renewed commitment to efficiency and digital transformation. Prime Minister Mia Amor Mottley...
Barbados is riding a wave of economic success, with growth surging to an estimated 4% in 2024. Thanks to strong performances in business services, tourism, and construction, the island’s financial outlook remains positive. The country’s home-grown Barbados Economic Recovery and Transformation (BERT 2022) program continues to yield impressive results, supported by the International Monetary Fund’s...
The iconic Savannah Hotel has officially joined the Sun Group portfolio, marking another major investment in Barbados’ tourism sector by businessman Bernie Weatherhead. Confirming the acquisition last Thursday, Weatherhead stated, “We are in full control of the hotel at this stage. The purchase agreement has been completed.” While he declined to reveal the exact purchase price, he noted that...
Imagine being able to send and receive money instantly - no delays, no waiting. That future is on the horizon for Barbados, as the Central Bank takes a major step toward modernizing the nation’s payment system. The bank has issued a Request for Proposal (RFP) to develop a national Instant Payments System (IPS), designed to make transactions faster and more accessible for everyone, regardless of their...
Barbados' tourism industry soared to new heights in 2024, smashing previous records and cementing the island’s status as a top travel destination. Chairman of the Barbados Hotel and Tourism Association (BHTA), Javon Griffith, shared the exciting news during the BHTA’s first quarterly media briefing of the year. He revealed that the island welcomed 704,340 stay-over visitors in 2024, with its three...
New Agreement Aims to Drive Biomedical Innovation and Strengthen Global Investment Barbados is taking a bold step into the future of healthcare. On February 19, 2025, the island signed a landmark Memorandum of Understanding (MoU) with European biotech firm Biomedx, paving the way for cutting-edge pharmaceutical research, global investment, and groundbreaking medical advancements. At the heart of...
The Caribbean real estate market continues to flourish, with the Cayman Islands leading the way by surpassing $1.021 billion in sales volume in 2024. This milestone underscores the region’s growing appeal to both local and international buyers, reinforcing its status as a prime investment destination. Despite a population of just 70,000, the Cayman Islands has consistently ranked among the...
In response to the evolving global trade landscape under President Donald Trump's "America First" agenda, Caribbean leaders are proactively seeking to diversify economic partnerships and accelerate digital innovation to enhance regional resilience. Experts emphasize that the Caribbean Community (CARICOM) must adapt swiftly to these changes to mitigate potential economic vulnerabilities. Navigating...
Governor Dr. Kevin Greenidge Highlights the Power of Investment at BIBA’s 2025 Economic Outlook Seminar Investment is the engine that drives economic growth, and Barbados must continue to attract both public and private investment to secure long-term prosperity. This was the key message from Central Bank Governor Dr. Kevin Greenidge at the BIBA: The Association for Global Business’ 2025 Economic...