分类: business

  • Fernandez Urges Faster Action to Capitalise on Tourism Growth as Arrivals Hit Record Levels

    Fernandez Urges Faster Action to Capitalise on Tourism Growth as Arrivals Hit Record Levels

    Against a backdrop of surging visitor numbers that are hitting unprecedented records in 2026, Antigua and Barbuda is being urged to move quickly to capitalize on the booming momentum sweeping its critical tourism sector, according to the nation’s Tourism Minister Charles Fernandez. In a recent address outlining the government’s updated strategic vision for the industry, Fernandez explained that policy priorities are evolving past the single goal of growing arrival volumes. Instead, the new focus centers on elevating both the quality of visitor experiences and the long-term value the sector delivers to local communities, with a heavy emphasis on inclusive, sustainable growth that lifts residents across the country.

    Fernandez highlighted three major pillars that have already fueled the sector’s strong 2026 performance: a pipeline of ongoing luxury hospitality development projects, expanded cruise ship operations that bring more day-trippers and overnight guests to the islands, and increased airlift capacity that opens the destination up to more international travelers from key source markets. One particularly valuable opportunity on the near horizon, he noted, is the nation’s second consecutive hosting of the Caribbean Travel Marketplace. This high-profile industry gathering gives Antigua and Barbuda a unique platform to strengthen long-standing collaborative ties with global tourism partners and put its one-of-a-kind island offerings front and center for leading international travel buyers.

    In closing, Fernandez extended public recognition to the nation’s frontline tourism workers and broader hospitality stakeholders, crediting their consistent dedication with preserving Antigua and Barbuda’s standing as one of the most sought-after top travel destinations in the Caribbean. He also reaffirmed the national government’s unwavering commitment to ongoing targeted investment in the sector, which continues to anchor the country’s overall economy and drive widespread employment and development across both islands.

  • Antigua and Barbuda Records Strongest Tourism Start With 7% Visitor Increase

    Antigua and Barbuda Records Strongest Tourism Start With 7% Visitor Increase

    Antigua and Barbuda’s tourism industry has kicked off 2026 with one of the strongest opening quarters in the nation’s history, posting a solid 7% year-over-year rise in international visitor arrivals, new industry data shows.

    Statistics unveiled at the annual Caribbean Travel Marketplace confirm the twin-island nation hosted 110,830 international visitors between January and March, with every month of the quarter breaking previous arrival records. Growth accelerated steadily across the three-month period: starting at 5% in January, climbing to 8% by March, which set an all-time record for the highest single-month visitor volume in Antigua and Barbuda’s history.

    Colin James, chief executive officer of the Antigua and Barbuda Tourism Authority, called the start to 2026 “phenomenal”, pointing to robust demand gains from the key U.S. market and surging traveler interest from across Europe as core drivers of the uptick.

    Beyond the record arrival numbers, tourism leaders are advancing a deliberate strategy to diversify the nation’s tourism offerings beyond traditional leisure travel. A major priority is tapping into the global meetings, incentives, conferences and exhibitions (MICE) segment, and the country is already hosting multiple regional and international industry events on its shores this quarter.

    Two key infrastructure investments are laying the groundwork for even stronger growth in cruise tourism, one of the sector’s fastest-growing segments. Officials project a 22% annual increase in cruise ship arrivals for 2026, a gain supported by expanded home-porting operations and a $30 million comprehensive upgrade to the nation’s main cruise terminal.

    The country is also positioning itself to capture higher-value tourism demand through a wave of new luxury hospitality developments. High-profile projects from global brands including Nobu, Nikki Beach, and Marriott International are in the pipeline, set to boost the country’s appeal to high-spending travelers seeking premium vacation experiences.

    Amid ongoing geopolitical turbulence that has disrupted travel patterns in other popular global destinations, Antigua and Barbuda has leaned into its reputation as a safe, stable, and welcoming getaway to attract travelers seeking worry-free vacations, tourism officials added.

    Even with the historic quarterly gains, sector leaders acknowledge headwinds that continue to challenge the industry. James highlighted that soaring global oil prices and steadily climbing operational costs remain persistent pressing concerns for tourism businesses and workers across all segments of the sector.

  • Premier Mark Brantley Urges Resilient Wealth Structures, Cites Nevis Financial Legacy at STEP CC2026

    Premier Mark Brantley Urges Resilient Wealth Structures, Cites Nevis Financial Legacy at STEP CC2026

    Against a backdrop of growing global economic uncertainty, Nevis Premier and Minister of Finance Mark A. G. Brantley has called for a fundamental rethink of traditional private wealth management practices, urging industry leaders to build flexible, resilient structures capable of weathering generational volatility during his keynote address at the 2026 STEP Caribbean Conference (CC2026) held in St. Lucia.

    The three-day industry gathering, which ran from May 11 to 13 at Sandals Grande St. Lucia, brought together hundreds of leading stakeholders from the global private wealth and trust sector under the official theme ‘Legacy in Transition: Governance, Technology and Next Generation Wealth’. Attendees and speakers traveled from more than a dozen jurisdictions spanning North America, the Caribbean, Europe, and beyond to unpack pressing industry topics: intergenerational wealth transfer, evolving global regulatory frameworks, governance best practices, and strategic succession planning for high-net-worth families. A sizeable delegation of financial services professionals from Nevis, led by Nevis Finance Director Rita Hawkins, joined the conference to reinforce the island’s ongoing engagement with the global financial services community.

    Delivering his featured presentation titled ‘Navigating Private Wealth in a Volatile World’ on May 12, Brantley — a qualified Trust and Estate Practitioner (TEP) himself — opened by framing the modern challenges facing wealth holders and their advisors. He argued that volatility has become a defining feature of nearly every dimension of the global economy, from equity markets and supply chains to monetary policy, regulatory regimes, and even daily work environments. ‘The only certainty in our lives, particularly at this point in world history, is uncertainty,’ Brantley told attendees. ‘For private wealth holders and their advisors, this raises a profound challenge, because private wealth is not just about achieving returns. It is about preserving optionality, protecting families, funding legacies, and navigating uncertainty across generations.’

    Brantley identified four interconnected forces driving today’s widespread structural volatility: growing geopolitical fragmentation across the globe, sweeping shifts in global monetary regimes following the end of the ‘Free Money Era’, rapid acceleration of technological disruption, and rising social and regulatory scrutiny of private wealth. He emphasized that the modern operating environment is not only more volatile than decades prior, but far more complex — a shift that penalizes rigid, outdated approaches to wealth planning. ‘Complexity punishes rigidity. Private wealth now exists under a much brighter spotlight,’ he noted.

    In place of traditional strategies focused narrowly on maximizing returns, Brantley urged industry professionals to prioritize structural adaptation and resilience. He highlighted the critical role of the Society of Trust and Estate Practitioners (STEP) in equipping advisors with the ongoing professional development and resources needed to address modern challenges. ‘As advisors, it is your skills and competence, enhanced by the continuing professional development that STEP offers, that will be relied upon to help responsibly preserve generational wealth for your clients,’ he said. ‘Private wealth is not solely about maximizing returns — it is about surviving multiple crises without permanent loss.’

    Beyond structural strategy, Brantley stressed that long-term intergenerational wealth preservation depends equally on strong governance, intentional planning, and shared family purpose. He noted that while market shifts, regulatory change, and volatility are unavoidable, thoughtfully structured trust and estate planning does more than protect assets — it preserves a family’s legacy across generations. ‘Well-governed private wealth does not fear volatility but rather navigates it strategically and often emerges stronger as a result,’ Brantley added.

    The address also doubled as an opportunity to position Nevis as a leading, forward-thinking international financial services jurisdiction, building on the island’s centuries-long ties to global finance. Brantley highlighted Nevis’ unique financial legacy: as the birthplace of Alexander Hamilton, the first United States Secretary of the Treasury and a founding architect of the U.S. financial system, the island has deep roots in global financial innovation that stretch back to the earliest days of modern global finance. That legacy, Brantley implied, underpins Nevis’ ongoing reputation as a trusted jurisdiction for structured private wealth planning in an uncertain world.

  • 2026 Caribbean Travel Trends Report Unveiled at Caribbean Travel Forum in Antigua

    2026 Caribbean Travel Trends Report Unveiled at Caribbean Travel Forum in Antigua

    St. John’s, Antigua – The annual Caribbean Travel Forum kicked off this week in the heart of Antigua, bringing together industry leaders, destination marketing organizations, hospitality stakeholders and tourism policymakers from across the region and around the globe. A key highlight of the opening sessions was the official unveiling of the highly anticipated 2026 Caribbean Travel Trends Report, a comprehensive analysis that maps out shifting consumer behaviors, emerging market opportunities and pressing challenges for the Caribbean’s $50 billion tourism sector.

    Drawing on 12 months of data collection from passenger surveys, booking platforms, airline route planning and hotel occupancy analytics, the report identifies three core trends set to shape travel to the region over the next two years. First, it projects a 18% growth in demand for multi-destination itineraries, as travelers increasingly seek to combine island hopping with immersive cultural experiences rather than sticking to a single resort stay. Second, it notes a sharp rise in the share of travelers prioritizing sustainability, with 62% of recent visitors indicating they would pay a 10% premium for accommodation certified as carbon-neutral by regional environmental bodies. Third, it highlights fast-growing demand from emerging long-haul markets, particularly Southeast Asia and West Africa, where outbound travel to the Caribbean has grown by an average of 22% annually since 2022.

    Forum attendees emphasized that the report comes at a critical moment for the Caribbean tourism industry, which is still balancing post-pandemic recovery with growing economic pressures from global inflation and the impacts of climate change on coastal infrastructure. “This data gives our member nations a clear roadmap to adapt their marketing and investment strategies to meet evolving traveler expectations,” said Carla Gullory, chair of the Caribbean Tourism Organization, in her remarks following the launch. “By leaning into sustainable development and tapping new growth markets, we can strengthen the resilience of our tourism economies while preserving the natural and cultural assets that make the Caribbean such a desirable destination.”

    The forum is scheduled to run for three days, with additional working sessions focused on infrastructure investment, workforce development, and climate adaptation strategies for coastal tourism destinations across the region.

  • Olieprijzen licht omhoog in afwachting van Trump-Xi top

    Olieprijzen licht omhoog in afwachting van Trump-Xi top

    Global crude oil prices recorded a mild uptick on Thursday, as market participants held their breath ahead of a high-stakes bilateral meeting between U.S. President Donald Trump and Chinese President Xi Jinping scheduled for later the same day. All trading attention remained firmly fixed on evolving developments tied to the ongoing conflict in Iran, a major driver of global energy market volatility.

  • The Store You Choose Matters More Than You Think

    The Store You Choose Matters More Than You Think

    For countless households across Belize watching every dollar of their grocery budget, rising weekly food bills have become a persistent source of financial strain. But a new on-the-ground investigation reveals that where consumers choose to shop may create far larger differences in final checkout costs than most shoppers realize. To quantify just how much prices can shift between retailers in the same city, a News Five reporting team visited three major supermarkets across different neighborhoods of Belize City, comparing sticker prices for a range of common everyday essentials from food staples to household cleaning products. The findings highlight that even small per-item price differences add up to meaningful savings or extra costs for families working with tight monthly budgets.

    Reporter Paul Lopez led the in-store comparison, selecting three locations spanning the city: Publics Supermarket on the North Side, 88 Shopping Center in the southern district, and downtown Belize City’s locally owned Sam’s Mart. Armed with a standardized list of 10+ everyday grocery items—including dish soap, breakfast cereal, processed ham, laundry detergent, canned tuna, and tomato paste—the team recorded individual product prices at each outlet to create an apples-to-apples comparison.

    Across most items tested, larger chain retailer Publics offered the lowest overall prices. For example, a 200-gram pack of Dak Chopped Ham retailed for $4.39 at Publics, compared to $4.50 at 88 Shopping Center and $4.65 at Sam’s Mart, the highest price for that product. The same trend held for Mazatun canned tuna: Publics priced the item at $2.95, 88 Shopping Center came in slightly higher at $2.99, and Sam’s Mart charged the top rate of $3.25.

    Sam’s Mart manager Erica Matus explained that small, locally owned Belizean retailers face structural barriers that prevent them from matching the lower prices of larger chain operations. “As a Belizean owned business, the challenge we face is buying in quantity where the bigger chains can buy more, so they get a lower cost,” Matus noted.

    Lennox Nicholson, Controller of Supplies for Belize’s Supplies Control Unit, confirmed that bulk purchasing power is one of the biggest drivers of price variation between retailers. “You may have two establishments selling the same item. One would have made a purchase of one hundred cases, while the other one may have bought twenty-five cases. And, in getting the supply of their product, normally when entities purchase in large bulks like that there is a better bargaining position to get a better price per case,” Nicholson explained.

    The investigation also found that pricing hierarchies are not fixed: smaller independent stores can undercut larger chains on select products. For a 1.9-liter bottle of Suavitel laundry detergent, Sam’s Mart priced the item at $6.95, while Publics charged $7.25—30 cents more per bottle. For a box of Fans Cornflakes, the highest price was recorded at 88 Shopping Center ($7.50), with Sam’s coming in at a middle point of $6.95 and Publics again offering the lowest rate at $6.85. The cheapest price for a 400-milliliter bottle of Axion dishwashing liquid was found at 88 Shopping Center ($2.50), compared to $3.95 at Sam’s.

    Nicholson also noted that a long-assumed driver of grocery price gaps—location relative to Belize City’s main distribution hubs—is far less impactful than it used to be. “What you find is that there is a general practice if it is a rural area, the price is just higher and if it is further away from Belize City the price is higher. But when you drill down and look at the invoice to show what they acquired the good for, there is not that significant gap between what an establishment in Belize City is acquiring for, compared to what an establishment in Belmopan is acquiring for,” he said.

    To boost its competitiveness against larger chains, Sam’s Mart has launched its own in-house line of poultry products, with discounted pricing to draw price-conscious shoppers. “The whole chicken is $2.90 a pound. Then we have chicken wings that come bagged, $5.95 a pound, and neck and back at $1.00 a pound,” Matus shared, highlighting the value the local store can offer on its own branded products.

    For Belizean households navigating ongoing cost of living pressures, the investigation’s core takeaway is clear: taking the time to compare prices across local supermarkets, even within the same city, can add up to hundreds of dollars in annual savings. Reporting for News Five, Paul Lopez.

  • Government Steps Up Enforcement, But Can It Rein in Prices?

    Government Steps Up Enforcement, But Can It Rein in Prices?

    Dated May 13, 2026, Belize’s government is moving forward with an aggressive expansion of consumer protection efforts aimed at taming runaway prices, though lingering uncertainty remains over how much regulatory control can actually be exerted over unregulated market segments. At the heart of these reforms is the country’s Supplies Control Unit, which is implementing sweeping changes to boost its enforcement capacity: the agency has doubled its operational staff, opened new regional branch offices across the nation, and formed a new partnership with the national Police Training Academy to upskill personnel and strengthen on-the-ground compliance actions.

  • Finance minister urges digital shift as BimPay launch nears

    Finance minister urges digital shift as BimPay launch nears

    Barbados’ upcoming launch of the central bank-backed BimPay digital payment platform is just weeks away, and the island nation’s top finance official is calling on all segments of society to embrace the new system as a foundational step toward modernizing the country’s entire economy. Speaking at a panel session during this week’s Barbados Employers’ Confederation (BEC) Annual General Meeting, Finance Minister Ryan Straughn emphasized that widespread adoption of BimPay will unlock tangible growth and productivity gains for both private enterprises and public sector agencies across the country.

    Straughn used his address to frame BimPay as far more than a simple payment tool. He argued that the digital system will cut through long-standing bureaucratic delays and eliminate the need for time-consuming in-person trips across multiple government agencies for routine transactions. “Instead of rushing all over the island to the Barbados Licensing Authority, the Barbados Revenue Authority and other government offices to handle paperwork and payments, we can complete every step online,” he explained. “That frees up hours of time that can be redirected to far more productive activities that actually move the needle for businesses and the public.”

    The minister pushed back against potential resistance to the shift to digital transactions, warning that any individual or business that chooses not to adapt to the new convenience-focused economic landscape risks being sidelined by consumer demand. Straughn even shared a personal example, noting that he has repeatedly encouraged his local Sunday coconut vendor to prepare for the launch, saying he prefers the convenience of digital payments over carrying cash.

    “Digital transactions have already cemented themselves as a core driver of efficiency across every modern economy,” Straughn told attendees. “This change will reshape how you deploy your resources as a business, and it will transform how government operates too – the single biggest impact on your long-term productivity will come from streamlining these basic transaction processes.”

    While Straughn acknowledged that BimPay alone cannot solve all of Barbados’ broader productivity challenges, he stressed that the platform is an essential first step in the island’s wider economic modernization journey. “If we want sustained, efficient economic growth and strong business expansion, digital transformation of transactions is non-negotiable,” he said. “Businesses that adapt quickly to this new system will be the ones that outperform over the long run. If you refuse to make the shift, the market will simply move toward competitors that offer the convenience and accessibility consumers now expect.”

    Beyond the rollout of BimPay, Straughn also called on local business leaders to expand their policy conversations beyond ongoing debates over minimum wage. He argued that firms must prioritize retraining their workforces to adapt to new digital processes and improve service delivery as part of a broader push to boost long-term competitiveness.

  • ‘Fix weak productivity, hard numbers behind wage talks’

    ‘Fix weak productivity, hard numbers behind wage talks’

    Barbados stands at a critical economic juncture, with top financial, business and academic leaders issuing a stark warning that the country could slide further behind competing Caribbean economies if national wage negotiations remain limited to minimum wage adjustments rather than tackling systemic issues including lagging productivity, gaping data deficits and the true burden of the cost of living. The joint call to action came during a high-profile panel discussion hosted just after the Barbados Employers’ Confederation (BEC) annual general meeting, held at the Lloyd Erskine Sandiford Centre, bringing together Finance Minister Ryan Straughn, BEC Executive Director Sheena Mayers-Granville, and Winston Moore, Professor of Economics and Deputy Principal at the University of the West Indies Cave Hill Campus. The panel’s conversation centered on the interconnected structural barriers holding back Barbados’ productivity and long-term economic expansion.

  • BPSA cites steady growth but flags risks to outlook

    BPSA cites steady growth but flags risks to outlook

    Fresh off the release of the Central Bank of Barbados’ first-quarter economic assessment, the leader of the island nation’s top private sector advocacy group has outlined a mixed but broadly encouraging outlook for the domestic economy, flagging solid growth and improving fiscal health as key drivers of rising investor confidence, while warning that external and domestic headwinds threaten to undermine long-term progress.

    In a public statement issued Wednesday, James Jimmy Clarke, Chairman of the Barbados Private Sector Association (BPSA), noted that the Caribbean island logged another three months of consistent GDP expansion through the end of March, with the Central Bank pegging first-quarter growth at 1.7%. This uptick was fueled primarily by steady activity across the island’s core economic pillars: tourism, construction, business services and other service-related industries. Labour market conditions have also shown measurable improvement alongside this growth, Clarke added.

    Clarke emphasized that consecutive quarters of sustained expansion deliver a clear signal of economic stability, a critical metric for drawing and retaining private capital. “Overall, the attainment of successive economic growth of the economy provides further indication of stable economic performance, an important indicator to building investor confidence in the local economy,” he said. “We anticipate that Barbados will maintain its attractiveness to private sector investors.”

    The BPSA also praised the island’s ongoing solid fiscal performance, highlighting that the primary surplus for the 2025/2026 financial year hit $647 million – equal to 4% of Barbados’ GDP. Over the same period, the country’s overall fiscal deficit narrowed to just $58.3 million. These improvements have driven a downward shift in Barbados’ debt-to-GDP ratio, which fell 2.7 percentage points to 94.6% by the end of the financial year.

    While international reserves dipped slightly compared to the prior reporting period, Clarke confirmed that the buffer remained robust at $3 billion as of the end of March 2026, enough to cover 25.5 weeks of imports, well above standard adequacy thresholds. Contained domestic inflation and continued improving labour metrics further add to the economy’s positive momentum, the BPSA found.

    Despite these encouraging gains, Clarke did not downplay the significant challenges still facing the small island nation. External risks including ongoing global geopolitical instability and the cascading impacts of climate change have paired with domestic concerns, most notably rising energy costs and elevated crime rates, to create heightened economic uncertainty. In response to public safety threats, Clarke reaffirmed the private sector’s commitment to collaborating with other national stakeholders to mitigate the social and economic damage of crime and gun violence.

    “As we face global geopolitical tensions, rising energy prices, the impacts of climate change, and concomitant social pressures causing higher levels of uncertainty, the private sector hopes for continued national resilience and stable economic performance and growth,” Clarke said.