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Eastern Caribbean Securities Exchange Lowers Investment Threshold

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News Americas, New York, NY, November 14, 2024: The Eastern Caribbean Central Bank (ECCB) Monetary Council has introduced a series of new measures aimed at boosting individual and small-business participation on the Eastern Caribbean Securities Exchange (ECSE). The council has notably lowered the minimum financial threshold for investment, reducing the barrier from EC$5,000 to EC$500 to facilitate wider engagement with the regional stock exchange.

ECCB Governor Timothy Antoine

These changes are part of the ECCB’s strategic initiative to democratize access to investment opportunities within the eight member territories, which include Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts and Nevis, Saint Lucia, and Saint Vincent and the Grenadines. The ECSE, launched in 2001 as a fully electronic exchange, was established to provide a platform for regional investment, but individual investors have historically been underrepresented. Currently, approximately 98% of investors are institutional entities, leaving individual participation at a marginal 2%.

To address this gap, the ECCB’s Monetary Council, which includes finance ministers from each member territory, not only lowered the entry threshold but also recommended that a portion of future bonds and treasury bills be earmarked exclusively for small investors. This safeguard is intended to prevent institutional investors from monopolizing these financial instruments, providing individual investors with fairer access.

ECCB Governor Timothy Antoine emphasized the importance of public participation in the securities market, likening the opportunity to wealth-building practices common in larger markets, such as the U.S., where Caribbean diasporic families routinely invest. Antoine explained that the ECCB itself maintains substantial holdings in U.S. markets, as the U.S. dollar is essential to member economies given its status as the currency for the majority of their external debt and import transactions.

In tandem with the ECCB’s efforts, Finance Minister Dennis Cornwall highlighted the need to foster a culture of financial literacy and access to capital within the region. He outlined three key focus areas for regional credit unions: promoting financial education from a young age, expanding access to capital—particularly in underserved communities—and encouraging collaboration across sectors. These initiatives aim to equip citizens with the skills and resources to build sustainable wealth and support regional economic growth.

The announcement came at a recent conference, held under the theme “Financial Empowerment through Wealth Creation: Investment Opportunities in the Eastern Caribbean Currency Union (ECCU).”

Caribbean Firms Face Structural Barriers To Growth Research Finds

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News Americas, New York, NY, Tues. Nov. 12, 2024: Caribbean businesses encounter significant operational and financial challenges, with informal payments, power outages, and limited access to capital markets among the top hurdles, according to a new report by the Inter-American Development Bank, (IDB) and Compete Caribbean titled “Are We There Yet? The Path toward Sustainable Private Sector Development in the Caribbean.”

The report, which covers 13 Caribbean nations, finds that regulatory bottlenecks often lead firms to rely on informal payments to expedite approvals, such as import licenses or construction permits. Meanwhile, two-thirds of firms face frequent power or Internet disruptions, emphasizing the need for stronger public service infrastructure to support business continuity.

A critical challenge highlighted is the lack of access to finance, which severely limits firm productivity. The study notes that Caribbean capital markets are underdeveloped and often illiquid, forcing companies to rely on limited and high-cost credit markets. Further complicating this issue is the lack of robust credit history data, which stifles lending options.

The report also identifies limitations in the region’s support for innovation and entrepreneurship. Although many Caribbean countries see significant potential in fostering entrepreneurship, systematic support for startups is scarce, and existing programs are often small in scale or temporary. This inhibits the development of scalable enterprises and limits the growth of a robust private sector.

Workforce Mismatch and Brain Drain

The Caribbean also faces a notable mismatch in labor market needs, with an oversupply of unskilled workers and a shortage of skilled professionals, particularly in technology sectors. Emigration of highly skilled workers to opportunities abroad exacerbates this imbalance, leaving critical skill gaps in key industries, the study said.

Need for Policy Reforms and Modernized Services

To address these issues, the report suggests reforms to improve business processes and public services. Key recommendations include streamlining licensing procedures, automating services through digital platforms, and implementing transparency campaigns to reduce corruption.

For workforce development, the study advises creating closer collaboration between employers and educational institutions to align training programs with in-demand skills, especially in information and communication technology (ICT). It also recommends government-supported job placement services and vocational training programs to enhance employment opportunities.

Support for Innovation and Financial Inclusion

On the financial front, the IDB study calls for policies that foster competition in credit markets and expand financial inclusion. These include establishing credit registries and bureaus for sharing credit histories, strengthening property rights and insolvency processes, and advancing financial technologies with adequate safeguards to improve credit risk assessment.

The report further encourages governments to design innovation support programs that span the business lifecycle, including public and private incubators and accelerators. Greater collaboration between industry and academic institutions is also recommended to support technology transfer and development.

A Roadmap for Growth

“The launch of this publication comes at a pivotal moment for our region. It underscores the crucial role of the private sector in driving national growth and development. By identifying key challenges and offering regional solutions and policy recommendations, it aligns with IDB Strategy+ and the pillars of our One Caribbean regional program,” said Anton Edmunds, IDB General Manager for the Caribbean Country Department. “This is not just a book; it’s a roadmap filled with regional messages and country-specific insights to promote more sustainable economic development within the Caribbean.”

The report uses data from the Innovation, Firm Performance, and Gender Issues in the Caribbean (IFPG) Firm-Level Survey, sponsored by Compete Caribbean in 2020, offering a comprehensive look into the hurdles Caribbean firms face and potential policy-driven solutions.

As the region seeks to reinvigorate economic growth post-COVID-19, the IDB report underscores the need for a stronger private sector and improved business environment. Between 1960 and 2019, the Caribbean region experienced an annual growth rate of just 1.47%, lagging behind the 1.94% rate in Latin America and well below the global average for middle-income countries.

The report’s recommendations offer a roadmap for fostering a more dynamic and resilient private sector, which is vital for accelerating the Caribbean’s long-term economic growth and development.

This Caribbean PM Calls On Sandals Resorts To Pay Outstanding Taxes

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News Americas, ST. JOHN’S, Antigua, Nov. 4, 2024: A Caribbean prime minister has publicly urged Sandals Resorts International (SRI), to address outstanding tax obligations on its Antigua property, Sandals Grande Antigua.

Antigua & Barbuda Prime Minister Gaston Browne expressed frustration over what he described as the luxury resort’s unwillingness to fulfill its tax responsibilities, noting that Sandals owes around EC$30 million, primarily from the Antigua and Barbuda Sales Tax, (ABST).

During his radio show over the weekend, Browne expressed disappointment, saying that despite Sandals collecting the ABST on behalf of the government, a significant portion of the funds has yet to be remitted. He voiced concerns about what he sees as a pattern with Sandals across the Caribbean, suggesting that the resort chain’s approach has been to prioritize profits at the expense of local economies.

“I don’t understand why these ‘so-called’ investors feel that they’re the only stakeholders who should benefit. They aim to extract every bit of revenue but resist government taxation,” Browne said. He warned that a similar tax dispute occurred with Sandals in the Bahamas, resulting in payments from the hotel group.

Addressing Sandals’ Executive Chairman Adam Stewart directly, Browne asserted that the company should be invested in more than just profits, stressing the importance of fair wages for staff and the fulfillment of tax obligations to support the local economy. He stated, “Sandals is not the only stakeholder; governments and workers deserve their fair share, not just Sandals’ shareholders.”

The Prime Minister went on to critique what he referred to as Sandals’ “colonialist model” of operation, arguing that it reflects exploitative practices that undermine the socioeconomic development of the Caribbean. Browne added, “As a beloved Caribbean brand, Sandals should take pride in meaningfully contributing to the well-being of the communities where it operates.”

Browne expressed that Sandals’ practices are not only an issue for Antigua but are felt throughout the Caribbean, where similar policies are in place. SRI has yet to respond to Prime Minister Browne’s remarks and the allegations of non-cooperation with Antigua’s Inland Revenue Department.

Top Caribbean Beach Destinations For Wealthy Entrepreneurs In 2024

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News Americas, New York, NY, October 28, 2024: Nomad Capitalist has unveiled its 2024 Nomad Beach Index (NBI), spotlighting the Caribbean’s top beach destinations for high-net-worth entrepreneurs and investors seeking favorable living and financial environments.

Ask about how you can invest in the Caribbean and get a second passport or residency

Leading the list is the Cayman Islands, known for its advantageous tax laws and high-quality services, followed by Antigua and Barbuda and St. Kitts and Nevis.

The NBI, based on data from more than 30 unique sources, ranks beach destinations using a 10-50 scale across five factors: Beauty (30%), Services (20%), Taxes (20%), Immigration (20%), and Safety (10%). The Cayman Islands secured the top spot for its renowned tax efficiency and appeal among affluent individuals preferring simplified tax regulations. Antigua and Barbuda advanced in the rankings due to enhanced service offerings, including improved airport operations and mobile connectivity.

Other Caribbean nations highlighted in the top 10 include Dominica (tied for fourth) and the Bahamas, which both continue to attract global entrepreneurs with streamlined immigration pathways and business-friendly environments. The Dominican Republic also made the list, reflecting its ongoing appeal as a destination with both lifestyle and financial benefits.

Javier Correa, strategy associate at Nomad Capitalist, emphasized that the NBI targets high-net-worth individuals looking for long-term, tax-efficient beach destinations. “The Caribbean’s beautiful beaches offer more than scenic getaways,” Correa noted. “They represent viable options for globally mobile entrepreneurs and investors seeking financial growth, streamlined immigration, and robust banking options.”

New Report Highlights Economic Challenges and Opportunities For The Caribbean

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News Americas, New York, NY, Mon. Oct. 28, 2024: The latest International Trade Outlook for Latin America and the Caribbean report from the Economic Commission for Latin America and the Caribbean, (ECLAC), sheds light on the Caribbean’s economic dynamics, spotlighting both growth opportunities and ongoing vulnerabilities across the region.

Key Findings for the Caribbean

Export Growth: Caribbean exports are set to increase by 24%, with Guyana (74%) and Suriname (12%) leading the expansion. However, Trinidad and Tobago, Belize, and Cuba are expected to see export declines, driven by factors like reduced sugar production, falling nickel prices, and energy sector setbacks.

Service Sector Potential: Services, particularly tourism, continue to be a dominant export for the Caribbean, but modern digital services hold significant growth potential. Currently, modern services represent just 10% of the Caribbean’s service exports – the lowest share in the region.

Food and Trade Dependency: The Caribbean remains heavily dependent on food imports, which account for over 20% of total exports in many countries. Rising food costs have heightened food insecurity, with half of the Caribbean population unable to afford a healthy diet as of 2022. Cereal imports meet nearly all the consumption needs in Caribbean island states, except the Dominican Republic. The cost of accessing a healthy diet is especially high in the Caribbean, where it amounts to US$ 5.16 PPP per person per day – 30 percent above the world average. As a result, in 2022, half of the Caribbean population have been unable to access a healthy diet, compared to 26% in South America and Central America and Mexico. The United States.

High Trade Costs: Intra-regional trade is burdened by high costs, particularly in air transportation, where limited competition and high airport fees drive up prices, impeding trade and travel across the region.

The average most-favoured-nation tariff applied to agricultural products in the region was 13.6% in 2023, almost 6 percentage points higher than the rate for non-agricultural products (7.8%). In the majority of the Caribbean countries, average agricultural tariffs are close to 20%, and in some cases higher.

Need for Regional Integration: To reduce trade costs and improve food security, ECLAC advocates for stronger regional integration. Proposed initiatives include a regional food distribution center in Barbados and Guyana, streamlined trade logistics, and regulatory harmonization.

Recommendations for Growth in Modern Services
The ECLAC report highlighted the importance of leveraging the high global demand for modern services to boost economic growth. “To harness high global demand for modern services, the countries of Latin America and the Caribbean should strengthen their productive policies and support programmes in partnership with the private sector,” ECLAC advises. “One effective strategy is to improve the measurement of services trade, in line with international recommendations, and implement policy frameworks that minimize restrictions on trade and FDI. In addition, trade agreements should be modernized, and subregional integration should be explored as a means to facilitate trade in services and avoid double-taxation.”

Furthermore, improving digital literacy is crucial. ECLAC emphasizes the need for “continuous learning programmes to train and equip workers to navigate the rapid technological changes underway” and calls for targeted policies to support services exports, including training programs, trade missions, and branding campaigns. “FDI attraction is essential to bring in new technologies and improve productivity, generating clusters and value chains to drive growth in the services sector, including exports and linkages,” ECLAC concluded.

These insights underscore the Caribbean’s strategic advantage in service sector development and regional trade integration, essential for sustainable growth and resilience.

Caribbean, Latin American Cruise Tourism Surge To Record $4.27 Billion Expenditure – Report

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News Americas, New York, NY, October 28, 2024: The cruise industry reached new economic heights in the Caribbean and Latin America during the 2023-2024 season, achieving a record $4.27 billion in direct expenditures from cruise tourism, according to a newly released study.

Conducted by Business Research & Economic Advisors, (BREA) and commissioned by the Florida-Caribbean Cruise Association, (FCCA), the report emphasizes the sector’s substantial contributions to regional economies, bolstering employment, wages, and direct spending in 33 participating destinations.

The 33.3 million cruise passenger and crew onshore visits across the Caribbean and Latin America drove the $4.27 billion in spending – a 27% increase from the previous study’s record in 2018. The industry also supported over 94,000 jobs, with total wages surpassing $1.27 billion, marking a significant boost for local economies and job creation.

Michele Paige, CEO of the FCCA, expressed pride in these results, emphasizing the positive impact on local lives and livelihoods. “This study not only underscores the economic value of cruise tourism but also offers insights for future collaboration between cruise lines and destinations to enhance mutual success,” said Paige.

Key findings reveal that cruise tourism’s impact stemmed largely from spending by passengers, crew, and cruise lines. Notable highlights include:

Passenger and Crew Spending: The 29.4 million passenger onshore visits contributed $3.07 billion in spending, averaging $104.36 per passenger. Crew visits, numbering 3.9 million, generated $229.5 million at an average spend of $58.78 per crew member.

Cruise Line Expenditures: Cruise lines spent an additional $968.3 million on services, provisions, and port fees, averaging $29.3 million per destination.

Economic Impact Per Call: For a single cruise call with 4,000 passengers and 1,640 crew, total passenger and crew spending reached an average of $369,100.

Among the 33 destinations highlighted, The Bahamas led in total expenditures with $654.8 million, followed by Cozumel, Mexico at $483.1 million, and the U.S. Virgin Islands at $258.1 million. Other key destinations included the Dominican Republic, Puerto Rico, St. Maarten, and Jamaica, each benefiting from multimillion-dollar expenditures that contribute to their economic vitality.

The report measured economic impacts using passenger and crew surveys, alongside data from regional government and economic development agencies to assess local employment, wages, port revenue, and taxes. The 31 destinations analyzed in both the 2018 and 2024 studies saw a 17% rise in passenger visits, while average passenger spending increased in 26 of these destinations. Notably, 14 destinations saw average passenger spending exceed $100, up from 12 in the previous study.

While the study focused on direct economic impacts, it also suggested that indirect benefits from cruise tourism could be substantial. These include supplies purchased by local businesses, potential for return visits by cruise passengers, and partnerships between cruise lines and local NGOs that further contribute to community growth.

The report was unveiled at the FCCA’s 30th annual Cruise Conference & Trade Show in St. Maarten, emphasizing the importance of fostering collaboration between cruise stakeholders and regional destinations. Detailed insights from the study, including individual destination metrics, passenger satisfaction, and shore excursion preferences, are available at the FCCA website.

As Caribbean and Latin American destinations continue to elevate their cruise tourism offerings, this record-breaking season provides a solid foundation for sustained growth and partnership with the global cruise industry.

Datapro Inc. Unveils Brand Refresh and Launches New Website

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News Americas, MIAMI, FL, Oct. 22, 2024: Datapro Inc. (Datapro), a leader in financial services technology, is proud to announce a comprehensive brand refresh, marking a new chapter in the company’s evolution. This refresh is accompanied by the launch of a redesigned website, aimed at better serving customers and partners with an enhanced, user-friendly experience.

As Datapro continues to expand and adapt in a rapidly changing industry, the refreshed brand symbolizes the company’s commitment to innovation, agility, and forward-thinking solutions.

“While our company is embracing a more modern and dynamic identity, we remain grounded in the experience and expertise that have been the foundation of our success for more than 45 years,” said Ignacio Blanco, CEO of Datapro. “Our track record of hundreds of successful implementations is a testament to our enduring capability to deliver value to our clients.”

The refreshed brand includes a new logo, color palette, and design elements that are more reflective of Datapro’s innovative spirit and agile approach. The new isotype design was inspired from data and the cell replication process, embodying modularity, agility and flexibility.

“These changes are not just cosmetic; they represent our ongoing transformation into a company that is better equipped to meet the challenges of the future, while still honoring the heritage and reliability our clients have come to trust,” said Blanco.

In tandem with Datapro’s brand refresh, the company has also launched a new website at www.datapromiami.com . The redesigned site offers an improved user experience, with intuitive navigation, mobile optimization, and enhanced content that better reflects the company’s expanded capabilities and breadth of services. The new design enables visitors to more easily access resources, case studies, and insights, to help them make informed decisions in today’s fast-paced business environment.

“Today’s announcement is more than just a visual update—it’s a statement of our commitment to driving innovation and excellence in everything we do,” said Blanco. “Our refreshed brand and new website are designed to better reflect who we are today: a modern, agile, and innovative company with a strong legacy of successful implementations. We’re excited to continue our journey with a renewed focus on providing exceptional value to our clients.”

Datapro invites clients, partners, and the community to explore the new website and experience the refreshed brand that underscores its dedication to pushing the boundaries of what’s possible.

About Datapro

Datapro is a leader in core banking and digital banking technology, with more than 100 customers in over 20 countries. Our vision is to be recognized as the architects of the banking evolution towards a digital world. We have been helping financial institutions across Latin America, the Caribbean, the US and the EU for the past 45 years to modernize their infrastructure and to deliver innovative digital solutions to their customers. In 2021, Datapro was acquired by Vencora, which is part of Constellation Software Inc. (CSU – TSE). www.datapromiami.com

D328eco™ ready to meet demand for regional connectivity across Latin America and the Caribbean

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News Americas, Nassau, Mon. Oct. 21, 2024: German aircraft manufacturer, Deutsche Aircraft, will attend this year’s ALTA AGM & Airline Leaders Forum in Nassau, Bahamas to share further insights about the new D328eco. This commercial aviation conference is a leading forum for industry leaders and government representatives to discuss current challenges and promising solutions for aviation in Latin America.

Regional aviation in South America and the Caribbean is expanding considerably, fuelled by robust GDP growth, a significant increase in tourism activity and the emerging middle class. This has created a crucial need for a reliable and efficient regional air transportation solution that can connect remote areas across diverse geographical landscapes.

The D328eco is uniquely positioned to meet all these requirements with its 40-seat capacity, outstanding operational efficiency and flexible operational configuration. This next-generation turboprop is the right aircraft to fulfil the demands of the regional aviation market, allowing operators to establish new routes and support the continued expansion of airports and infrastructure.

The high-performing solution for regional aviation in Latin America

Regional aviation plays a pivotal role in boosting tourism, stimulating local economies and strengthening regional development. Tourism is one of the key markets in the region, with more than 117 million international tourists visiting Latin America in 2023 (a 12% increase from 2022). To maximise on this potential, regional airlines need to offer efficient and accessible transportation services, expand their network connectivity and prioritise passenger experience.

The turboprop from Deutsche Aircraft sets the bar for performance and efficiency in its class, making it a perfect match for this developing regional market. With a nominal range of 600NM, a high service ceiling of 30,000ft, a top speed of 324KTS and a climb rate of 2,355ft, the D328eco can handle the wide-ranging landscapes across this continent. Combined with its unpaved runway and 800m STOL capabilities, it is ideal for serving smaller, remote airports across the region.

The D328eco has elevated the concept of comfort with its contemporary cabin layout, which includes a spacious stand-up aisle. Passengers will enjoy plenty of room, including generous overhead bins for their belongings. Its modular galley can be tailored for both hot and cold service, ensuring that all passenger requirements are satisfied.

A path to profitability

Regional aviation in Latin America and Caribbean is crucial for connecting remote areas and providing essential transportation services. Served by numerous smaller carriers, the 30–50-seater aircraft market presents significant opportunities for growth and profitability.

The D328eco from Deutsche Aircraft sets new standards for operating economics, offering up to 50% improvement in operating costs compared to similar sized aircraft.

Versatility for any mission

The aircraft’s versatile payload capacity and ability to operate in extreme hot-and-high conditions and high -altitude runways, make it ideal for navigating the mountainous terrain and vast territories of Latin America under the toughest conditions.

Multi-role aircraft plays a vital role in addressing the diverse challenges faced by countries in the region. The adaptability and robustness of the D328eco allows it to be modified for different missions as required, offering remarkable operational flexibility and the capacity to adapt to a variety of special mission requirements, from emergency response and humanitarian aid to cargo, border patrol and ISR missions.

Talk to our team at the ATLA AGM

Curious about this state-of-the-art turboprop? Nils Heuer, Sales Director at Deutsche Aircraft, will be available to connect with potential operators and discuss how the D328eco represents the future of regional air travel in Latin America and the Caribbean.

Anguilla Secures New Domain Management Deal Amid AI Boom

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News Americas, New York, NY, Fri. Oct. 18, 2024: The Caribbean British territory of Anguilla has taken another significant step in its digital evolution, signing a new agreement with the U.S.-based company Identity Digital on Oct. 15, 2024, to manage its highly coveted “.ai” Internet domain. This deal comes amid a global surge in demand for AI-related domains, as artificial intelligence continues to shape industries worldwide.

Anguilla, which has been responsible for the “.ai” domain since the 1990s, is seeing unprecedented revenue growth as companies flock to secure AI-themed web addresses. Despite the change in management, domain registration fees will remain stable, but Anguilla continues to benefit from payments when new “.ai” domains are registered or when expired ones are resold. Some of these domains have fetched tens of thousands of dollars on the market.

The artificial intelligence boom, sparked in part by the rise of popular technologies like ChatGPT, has brought a windfall to Anguilla. The island’s earnings from domain registrations soared to $32 million last year, quadrupling its previous revenue and now accounting for about 20% of the island’s government income. This marks a significant shift from the pre-AI era, when domain revenues made up only 5% of government funds.

Premier Ellis Webster expressed optimism about the financial boost but remained cautious about relying solely on domain-related income. “We can’t predict how long this will last,” Webster told the Associated Press, emphasizing the importance of diversifying the island’s economy to avoid potential future financial shortfalls. He noted that funds from domain sales have already been allocated to vital infrastructure projects, including the expansion of the airport, free healthcare for seniors, and the construction of a vocational training center at the local high school.

Identity Digital, which also manages Australia’s “.au” domain, will take over management of Anguilla’s domain services by early next year. This partnership is expected to enhance the security, resilience, and performance of the “.ai” domain, ensuring continued growth and minimizing risks from cybercriminals.

The global AI rush has dramatically increased the number of “.ai” domains, with more than 533,000 currently registered – a tenfold rise since 2018. This has positioned Anguilla at the center of the AI domain boom, even though the island itself has no significant AI industry. Still, Premier Webster is hopeful that Anguilla may one day develop into a hub for AI innovation.

Anguilla’s unique role in the AI-driven digital economy represents a significant opportunity for the island to diversify its economy, which traditionally relies on tourism. The income from domain sales not only supports infrastructure but also provides a financial buffer for hurricane recovery efforts and other emergency projects. As the International Monetary Fund noted earlier this year, these revenues help to make Anguilla more resilient to external shocks.

As the AI domain market continues to grow, Anguilla’s partnership with Identity Digital is expected to protect the integrity of its digital presence, reducing the risks of fraud and ensuring that the domain remains a valuable asset for both the island and the global AI community.

New Hotels Coming To The Caribbean In 2025 And Beyond

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News Americas, New York, NY, Thursday, October 17, 2024: The Caribbean’s hotel market is booming, with several new resorts set to open in 2025 and beyond, reflecting strong investor interest in the region. According to the recent CBRE Global Hotel Investor Intentions Survey 2024, Canadian investors are particularly keen on high-end properties in Central America and the Caribbean, while Asia-Pacific investors favor upper-upscale investments. Here’s a look at some of the highly anticipated hotel openings across the Caribbean next year and in the coming years:

Cas en Bas, St. lucia. (Hyatt Hotels image)

2025 Openings:

Cas En Bas Beach Resort – St. Lucia
This luxury Hyatt resort will open in early 2025 on St. Lucia’s northern tip, nestled between two championship golf courses and a stunning white sand beach. It will offer residential-style studios and one- and two-bedroom suites, providing a secluded and elevated luxury experience.

Secrets Baby Beach Aruba
Set to be Hyatt’s first adults-only Inclusive Collection resort in Aruba, this property will open near the picturesque Baby Beach, blending architecture with the natural landscape for stunning views of the island.

Secrets St. Lucia Resort & Spa
Located near Rodney Bay Marina and offering panoramic views of St. Lucia’s volcanic beaches and mountains, this adults-only Hyatt resort will deliver a luxurious experience with easy access to the island’s top attractions.

Grand Hyatt Grand Cayman Hotel & Residences
Hyatt’s debut in the Cayman Islands will feature 351 guestrooms, studio suites, and residences along a seafront eco-walk celebrating the island’s diverse ecology.

Nikki Beach Resort & Spa – Antigua
Opening in partnership with White Sand Development Ltd., this will be the first Caribbean Nikki Beach resort, offering bungalows, beach villas, and luxury amenities like a spa, gym, and gourmet dining.

Unico Hotel 1877 – Jamaica
This 450-room luxury resort in Montego Bay will open in summer 2025, bringing Unico’s signature elevated hospitality experience to Jamaica.

Marriott Miches Beach – Dominican Republic
Opening as part of Marriott’s all-inclusive portfolio, this resort on a 62-acre beachfront site will feature 498 rooms, some with private swim-up pools, and offer an immersive tropical escape in Miches.

The Placencia Resort – Belize
Hyatt’s first hotel in Belize will join the Destination by Hyatt brand in late 2025. Following a $10 million renovation, the resort will feature 90 reimagined guestrooms, beachfront villas, and upgraded dining and leisure facilities.

RELATED: Unlock the Potential of Your Real Estate, Renewable Energy, or Other Business In The Caribbean or Central Or Latin American

2026 and Beyond:

Sonesta ES Suites – Dominican Republic
Sonesta will open five upscale, extended-stay hotels across the Dominican Republic starting with the Sonesta ES Suites Elements Jarabacoa in 2026, further expanding its presence in Latin America.

Garza Blanca Resort & Spa Miches – Dominican Republic
This luxurious all-inclusive resort, nestled amid palm groves on Playa Esmeralda beach, will open in late 2026, bringing Tafer’s award-winning hospitality to the Caribbean.

The Estate – St. Kitts & Nevis
Set to revolutionize luxury hospitality in the region, The Estate will feature four hotels and residences. The first phase will launch in 2026, offering world-class experiences in an exclusive Caribbean setting.

Pendry Barbados and Pendry Residences Barbados
Opening in 2026, this project will transform the Port Ferdinand Marina & Residences into an ultra-luxury resort with 74 oceanfront rooms and 46 private residences, complete with a marina, beach club, and spa.

One&Only Resort – Antigua
Slated to open in 2027, this resort will be set on a 132-acre site at Half Moon Bay, combining Antigua’s natural beauty with One&Only’s signature ultra-luxury experience.

Hilton Georgetown & DoubleTree Suites – Guyana
These two Hilton-branded properties will open in 2027, marking Hilton’s first foray into Guyana as part of its ongoing expansion across the Caribbean and Latin America.

Pinnacle Luxury Resort – Jamaica
This massive luxury residential resort in Jamaica, featuring four 28-story towers, will break ground in 2028, elevating the island’s luxury accommodations to new heights.

Baha Mar Resort Expansion – Bahamas
A $350 million expansion at Baha Mar will add a new 350-room luxury resort and 50 branded residences by 2029, boosting the resort’s capacity and further establishing it as a top luxury destination.

Vie L’Ven Resort & Residences – St. Maarten
This luxury project in St. Maarten will bring 280 units, including hotel rooms, suites, and private residences, to Indigo Bay by 2028, offering stunning ocean views and five-star amenities.

As these developments come to life, the Caribbean continues to position itself as a top destination for luxury travel, catering to discerning travelers from around the globe.