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 recorded for the period January to August 2022, Prime Minister Phillip J Pierre told the 58th annual general meeting of the St. Lucia Hotel and Tourism Association.
He said during that period Cabinet approved 20 projects for tourism incentives “amounting to projected investments of EC$326.6 million”.
Tourism officials said visitor expenditure post Covid-19 had exceeded EC$560 million last year and hotels and other properties collectively made in excess of EC$303 million.
Extract from the CARICOM BUSINESS Newsletter, Vol 5. No. 36
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