The Caribbean is famous for many things, from rum to reggae, to its beautiful beaches and balmy summers. One thing it’s not particularly known for, however, is being an investment hub. But perhaps it should be.
With just one of its countries (Haiti) listed as one of the least economically developed countries and most being thriving tourist destinations, there are more Caribbean investment opportunities than you might think. Here are a few reasons why investing in the region can be a great move.
Location, location, location
Situated in the middle of the Americas, the Caribbean offers easy access to markets in North, South and Central America. For example, Dominica is located within 1,500 miles of both the US and South America, both of which can be visited via one of the country’s two international airports.
Dominica is also in close proximity to all the other Caribbean nations by boat or plane. It is also part of the Caribbean Community and Common Market (CARICOM), an organisation of 15 Caribbean countries that facilitates free trade through minimal tariffs and no price controls. The region also has trade deals with the US, EU and Canada, which all include duty-free provisions.
The Caribbean is renowned for its political stability, with a “reputation for being one of the most democratic regions in the world. The 20-odd countries and territories…have a generally strong track record of regular elections, political stability and a lack of politically motivated violence.” This makes it conducive to investment.
Here in Dominica, the government has scored particularly highly for its political stability over the last few decades. According to The Global Economy’s political stability index, the country had an average value of 0.92 between 1996 and 2020, which is much higher than the world average of -0.07. It’s also very business-friendly, with the government introducing a raft of market-oriented measures in recent times, including the Small Business One Stop initiative and a $27M small business loan facility.
In addition to its political stability, the Caribbean is economically steady too. This is largely fueled by the region’s thriving tourism industry, with the region receiving over 30 million visitors a year. Tourism accounts for roughly a quarter of the Caribbean’s GDP.
Dominica’s own tourism sector has grown massively over the years, and its economy is predicted to record sustained annual growth of 5% between 2022 and 2026. This is down to both Dominica’s flourishing tourism sector and huge public spending levels.
As well as in tourism, there are plenty of investment opportunities in the Caribbean, including thriving industries like agriculture and the blue economy.
Here in Dominica, investing in the country is incredibly easy thanks to the citizenship by investment programme. This allows individuals to contribute towards the Dominica’s economy and receive Dominican citizenship in return. All you need to do is invest a set amount in either the Economic Diversification Fund or real estate, with the former route helping you to improve projects in the public and private sector that are in need of financial support. Meanwhile, the real estate option lets you hold authorised property worth at least $200,000, with many of these eco-resorts that are designed to be as sustainable as possible.
If you’d like to find out more investing in the Caribbean via Dominica’s citizenship by investment programme, then be sure to contact us at your nearest convenience.BACK TO NEWS FEED