Caribbean

Based on per capita income, the islands of the Caribbean are classified as middle-income countries except for Guyana and Haiti, which are classified as low-income countries. Mexico and the Dominican Republic have significant income bracket disparity but have implemented many new effective reforms that are beginning to meaningfully address this disparity.

The Caribbean's tourism-driven economy is thriving. Many of the individual islands' governments face the challenge of increasing their economic independence while enjoying the benefits of economic partnerships. The rise of tourism has also sparked an indirect growth in many other domestic industries such as construction and many other service- and tourism-related enterprises. Aruba, for example, currently has five times the hotel capacity it had in 1985, and its construction trade is flourishing.

In an effort to stimulate the growth of their economy, some of the islands have followed the European Union's lead and formed economic alliances under a single currency. The Eastern Caribbean Currency Union, for instance, uses the Eastern Caribbean Dollar (EC$), and counts Antigua & Barbuda, Dominica, Grenada, St. Kitts & Nevis, St. Lucia, Montserrat, Anguilla, and St. Vincent & The Grenadines among its members.

Because the Caribbean economy is situated so closely to the U.S. the U.S. dollar is also widely accepted in the region. A few of the islands even have their currencies fixed to the dollar at a constant exchange rate: 1 Bahamian dollar = 1 U.S. dollar, for example, and 2 Barbadian dollars = 1 U.S. dollar.

Overall there are many factors that make the various countries of the Caribbean a very attractive investment environment. At present we are investigating several proposed developments in the regionand upon the conclusion of our due diligence we feel confident that we will be able to offer our clients a selection of choice opportunities in the country.