Barbados' government is gearing up to modernize its land transaction procedures to facilitate easier property purchases and enhance the country's competitiveness, Prime Minister Mia Mottley announced. Speaking at a colloquium hosted by the Ministry of Housing, Lands, and Maintenance at the Lloyd Erskine Sandiford Centre, Mottley criticized the current system as outdated and obstructive to economic growth,...
Virgin Atlantic has appointed Sean Edwards as its new Country Manager for the Caribbean, signaling an exciting step forward in the airline’s regional operations. With extensive experience in the airline and travel sectors, Edwards is well-positioned to lead Virgin Atlantic’s growth in one of its most important markets. Edwards re-joins Virgin Atlantic after a five-year period during which he led...
Barbados has secured the 77th spot among 133 economies in the Global Innovation Index (GII) 2024, marking its return to the index after an eight-year absence. The GII, jointly published by Cornell University, INSEAD, and the World Intellectual Property Organization (WIPO), annually assesses countries' innovation capabilities and performances. It evaluates various factors crucial to innovation,...
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,...