Business
Caribbean economy to grow by 4.5 per cent in 2011, says World Bank
The wider Latin America and Caribbean region will see 4.7 percent economic growth.
The Caribbean and Latin American economies will grow by an estimated total of 4.5 per cent in 2011, according to a report form the World Bank released last month (June 8, 2011).
Although slightly stronger growth had been predicted, the lender estimates that the economy will continue on this path, despite rising energy prices.
Those looking to invest in the Caribbean, may also be interested to know that tourism growth in the Caribbean region is currently at 3.9 percent, with Barbados showing particularly strong growth in the first quarter of 2011.
Figures form the Caribbean Tourism Organisation published this week show that 208,686 tourists arrived in Barbados, representing an increase of 9.9 per cent on last year.
Non residents that are thinking of buying a Grenada property will note that there were just over 30,000 arrivals up to April, suggesting this may be the more sedate island, best suited, perhaps, to those looking for a quieter Caribbean holiday home.
However, Grenada may be set to welcome increasing numbers of tourists in both the short and long-term thanks to the announcement of new flights from the UK and elsewhere.
With the launch of British Airways’ luxury sale in May, travellers can now enjoy savings of up to 29 per cent on business class flights to Grenada that are booked before June 21st.
Virgin Atlantic is also introducing a twice-weekly direct service to Grenada that will begin from October 31st.
Grenada has also launched two brand new tourism attractions that will allow visitors to discover the history of the island and gain an insight into the Caribbean’s obsession with cricket as well as see award-winning organic chocolate made by hand.