Tourism still mainstay of Barbadian economy
Affectionately known as the Gem of the Caribbean, Barbados has one of the highest percentages of returning visitors in the region and has won a string of prestigious awards in the world travel industry, including Leading Caribbean Destination at the 2005 World Travel Awards.
Darcy Boyce, CEO of Barbados Tourism Investment Inc |
Economic output from the sector remains on the rise, with a strong rebound in long-stay arrivals in 2006.
Its stunning white coral sand beaches, turquoise waters, and superb climate all year round have no doubt been instrumental to achieving the coveted position that Barbados enjoys in the international tourism market today.
Nevertheless, CEO Darcy Boyce of Barbados Tourism Investment Inc (BTI) notes, "I think we have moved away from just being the traditional sea, sun and surf destination. We are creating a multidimensional product of a level of sophistication and attractiveness which will draw more people to the place."
By playing host to two major international sporting events within five months, the 2006 World Golf Championship World Cup and the 2007 Cricket World Cup finals, Barbados is drawing attention to its significant qualities as a sports destination.
Besides golf and cricket, polo, rugby, motorcar racing and horse racing are also thriving in the island.
Other important attractions in Barbados remain fine dining, a vibrant nightlife, duty-free shopping, botanical gardens, wildlife, caves and marine parks, and historic sites. A new Concorde exhibition center is opening its doors in 2007, and on the cultural side, Barbados is hosting a series of festivals throughout the year such as Barbados Jazz Festival and the Crop Over Festival.
Finally, it is worth noting that Barbados' exceptionally low crime rate and its location outside of the hurricane belt no doubt have added to the island's comparative advantage in tourism, as have its high level of services and the exceptionally friendly nature of its local people.
As Barbados' world-renowned Kensington Oval is being upgraded for the Cricket World Cup, other development projects are undertaken as well.
As Boyce observes, "In preparing for the World Cup, we're paying a lot of attention to upgrade our infrastructure. What we have wanted to do for a while, we have just accelerated, so at the end of World Cup, we are going to have a better physical product."
Crane Beach on the east coast of Barbados |
Initiatives include a redevelopment program in the nation's capital to bolster its position as the shopping center of the Southern Caribbean.
BTI is managing a so-called Urban Rehabilitation Program targeting Bridgetown, Speightstown, Oistins and St. Lawrence Gap while the airport is being improved, and the country's road network is upgraded with flyovers on the island's main highway. The BTI is also involved in building a new marina for mega yachts.
The Barbados Tourism Development Act has played an important role in developing the tourism sector by offering investors in tourism projects various incentives including tax credits and exemptions from value-added tax and import duties on building materials and supplies.
The BTI is ready to assist those who want to invest in tourism development in Barbados, by helping obtain required permissions and seeking out local partners.
(Shanghai Start 02/01/2007 page1)
