(World Bank, 2020)
Why You Should Invest in the Caribbean in 2022
27 Jul 2022
There are distinct advantages for investors investing in the Caribbean in 2022. Caribbean nations have largely opened up as the world has relaxed COVID-era travel restrictions. Beyond opening up to tourism (millions have been booking their Caribbean vacations), Caribbean nations are open to investment. There is a renewed sense of optimism that has been driven by necessity, innovation and technology. The convergence of these factors is making NOW the ideal time for investors to get into the Caribbean and realize both short and long-term gains.
5 Reasons to Invest in the Caribbean in 2022
#1 Caribbean nations have high renewable energy targets.
CARICOM has a target of 48 percent renewable energy penetration by 2030. Individual nations have set their own targets, some even more aggressive. Overall, this will be a fourfold plus increase in the amount of renewable energy being generated throughout the Caribbean. To accomplish this goal, public-private partnerships are available. Companies who are involved in the infrastructure, manufacturing, storage, distribution and servicing of renewable energy projects are all invited to contact CAIPA to learn about investment opportunities.
#2 It’s easy to reach the Caribbean from the U.S., Canada and Mexico.
The Caribbean is a true near-source location. Companies looking to expand, but wanting to be near their call center or operations hubs, should invest in the Caribbean for the sheer convenience of being able to reach the islands in a couple of hours. Most are in Eastern Standard Time, making it easy for staff and for customers to communicate between locations.
#3 The Caribbean has the talent you’re looking for.
Companies throughout the world are struggling to find educated and skilled employees to fill positions. The Caribbean has the talent you are looking for. Our workforce is some of the most educated in the world. Hard working, and wanting to live in the Caribbean, our workforce is excited for opportunities to build and grow a career close to home. So, if a lack of talent is hurting your operations, 2022 is the ideal time to invest in the Caribbean.
#4 There are cultural similarities.
English is the primary language spoken across the Caribbean. Culturally, Caribbean people are aligned with European and American customs and traditions. This cultural affinity means that the learning curve is shortened when outsourcing to the Caribbean. Staff who travel back and forth will find the transition incredibly easy.
#5 The Caribbean is open to trade.
The Caribbean has historically been a global hub for trade. It still is. Several free trade agreements are in place and Caribbean nations have enacted policies that make trading between nations easy and convenient. For example, the Caribbean Basin Initiative provides Caribbean territories with duty-free access to US markets for most goods. Likewise, the CARIFORUM/European Union Economic Partnership Agreement grants preferential access to European markets.