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Saint Lucia approves incentives for 20 new tourism projects – CARICOM Business
The St. Lucia government says it is anticipating investment in the tourism industry to surpass EC$320 million as a result of negotiations with various investors during the first 8 months of this year. “Investors are showing a high level of confidence and interest in St Lucia’s economic prospects. This is evident by the level of tourism investments which have been…
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Antigua registers 7% increase in tourist arrivals in July – CARICOM Business
Antigua and Barbuda has reported a 7% increase in tourist arrivals in July as the country continues to record a “steady rebound” in visitor arrivals in the wake of the coronavirus (COVID-19) pandemic that had forced the closure of borders. The Ministry of Tourism said during July, Antigua and Barbuda welcomed 24,673 visitors, an increase of 23,405 from the corresponding…
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Barbados Gov’t caps fuel prices – CARICOM Business
Effective August 19, consumers in Barbados will be paying less for gasoline and diesel as Prime Minister Mia Mottley announced that the price of fuel at the pump will be capped for the next five months. Gasoline will cost BDS$4.48 (US$2.24) per litre, while diesel will be BDS$4.03 (US$2.01) until January 31, 2023. Mottley also said that the cap on…
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TT Central Bank authorises first company to issue e-money – CARICOM Business
The Central Bank of Trinidad and Tobago has issued a provisional registration to PayWise Limited as an electronic money (e-money) issuer. The provisional registration authorises PayWise to issue e-money in Trinidad and Tobago from September 1, 2022, becoming the first entity, apart from banks and non-bank financial institutions, so authorised. PayWise will also be allowed to enlist new customers. PayWise…
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ECCU stock of international reserves jump 12.1%: CARICOM BUSINESS
The Eastern Caribbean Central Bank (ECCB) says monetary conditions within the Eastern Caribbean Currency Union (ECCU), “remain accommodative”. “Monetary and credit conditions improved during the first half of 2022, with growth in private sector credit being positive,” the ECCB said, noting that the ECCU’s stock of international reserves expanded to a level 12.1% higher than pre-pandemic levels. At the end…
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Jamaica’s unemployment rate plummets to 6%: CARICOM BUSINESS
The unemployment rate for April 2022 decreased to 6.0%, 3.0 percentage points lower than in the same quarter of 2021. The male unemployment rate fell to 4.7% from 7.5%, while the unemployment rate for females declined to 7.6% from 10.8%. The unemployment rate for youth aged 14-24 was 15.5% in April 2022, which represents an 8.6 percentage point decline when…
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FDI to Caribbean increases by 39%: CARICOM BUSINESS
The United Nations Conference on Trade and Development (UNCTAD) says investment flows to the Region reached US$134 billion last year, up from US$88 billion in 2020. According to UNCTAD’ World Investment Report 2022, foreign direct investment (FDI) in Latin America and the Caribbean rebounded from the pandemic-induced slump, growing by 56% and FDI flows to the region had plunged by…
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Bahamas collects $931 million in revenue in 11 months: CARICOM BUSINESS
The Department of Inland Revenue (DIR) in the Bahamas has collected $930.57 million in taxes from July 1, 2021 to end of May, exceeding current FYprojections by $100 million. According to Acting Comptroller of the Department of Inland Revenue Shunda Strachan $136 million came from real property taxes, $712 million was collected in value-added tax (VAT) – of which $220…
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CARICOM Secretary-General meets incoming CARICOM Chairman
CARICOM Secretary-General Dr Carla Barnett this week met incoming CARICOM Chairman H.E. President Chandrikapersad Santokhi of Suriname to discuss his new portfolio in the CARICOM Quasi-Cabinet of Industry, and the upcoming Heads of Government Meeting in Paramaribo, 3-5 July 2022.
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TCI on track for full tourism recovery: CARICOM BUSINESS
The Turks and Caicos Islands has seen a tremendous increase in visitor arrivals during the first quarter of 2022 and is on track to make a “full recovery”. According to preliminary data released by the Turks and Caicos Islands Tourist Board, 311,913 visitors arrived in the territory during the first quarter of the year. The Tourist Board also reported that…
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