(World Bank, 2020)
10 Reasons to Invest in the Caribbean
#1 The Caribbean is an Ideal Location
Located in the center of the Americas, the Caribbean provides the advantage of easy access to markets in the North, South and Central America and serves as a bridge to European markets.
#2 Accessibility - It’s Easy to Get Here
Most Caribbean countries have international airports that provide daily direct flights to the USA, Canada, the UK, and several other countries in Europe, as well as South America. Accessibility by sea via the world-renowned regional ports is also an advantage allowing for easy access to raw materials and equipment
#3 Openness to Trade
Many countries in the Caribbean have preferential access to some of the largest markets in the world. A few Regional Free Trade Agreements include:
CARIFORUM/EUROPEAN UNION ECONOMIC PARTNERSHIP AGREEMENT: Granting preferential access to markets in Europe.
- Caribbean Basin Initiative: Providing beneficiary Caribbean territories with duty-free access to US markets for most goods.
- DR-CAFTA: Facilitating increased trade and investment among 5 Central American territories, the Dominican Republic and the USA.
- CARICOM: Allowing access to the 15 markets of the Caribbean (with more than 23 million inhabitants) at preferential rates.
- Haitian Hemispheric Opportunity through Partnership Encouragement (HOPE)/Haiti Economic Lift Program (HELP): Granting access to the US market.
- The territories in the Caribbean are currently also negotiating a free trade agreement with Canada.
#4 Modern Infrastructure
Electricity and water supply are constant and affordable. Telecommunications and broadband internet access are available, and a ready supply of natural gas can also be easily accessible from within the Region. Land and office space are available at cost-effective rates.
#5 Economic & Political Stability
The Caribbean is known for its stable democracies and economic development. This provides the assurance of a secure location to do business and raise families.
#6 Educated Talent. The Caribbean Has a Skilled Labour Supply
The Caribbean is known for its highly skilled labour supply with an agreement that allows for the free movement of skilled labour within CARICOM. The peoples of the Region also speak the key languages of English, Spanish, French and Dutch.
#7 Diverse Investment Opportunities
The Caribbean has garnered critical acclaim as a Mecca for tourism with its abundant natural resources. However, there are a number of other competitive sectors including: information communications technology/business process outsourcing, services, agribusiness and the creative industries- 23 diverse territories from which to choose.
#8 Incentives Programmes Are Available
Many of the Region’s territories offer incentives, some of which can be customized, providing the best opportunity for investors.
#9 It’s Easy to Do Business in the Caribbean
Economies in the Caribbean carried out record reforms over the past year to make it easier for enterprises to do business, the World Bank Group’s Doing Business 2020 study notes that improvements in the Caribbean were concentrated in starting a business, getting electricity, paying taxes and enforcing contracts.
#10 Responsive Investment Promotion Experts
The Region’s IPA have been recognized for their competent inquiry handling services and excellent web sites.