Carib Scope

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  • Dominican Republic heads to Argentina as Guest of Honor at FIT Latin America 2026

    Dominican Republic heads to Argentina as Guest of Honor at FIT Latin America 2026

    Fresh off a successful appearance at Paris’ leading international tourism exhibition, the Dominican Republic is shifting its focus to the next major industry gathering, with tourism officials gearing up for a high-profile turn as Guest of Honor at the 30th edition of FIT Latin America 2026 in Buenos Aires. Dominican Tourism Minister David Collado has confirmed the country’s delegation is already en route to Argentina for the four-day event, which will run from September 26 to 29 at the iconic La Rural exhibition center.

    As the honored guest nation, the Dominican Republic will claim a sprawling 400-square-meter dedicated pavilion in the event’s international exhibition zone, designed to immerse visitors in the full breadth of the country’s diverse tourism offerings. Attendees will get an up-close look at everything from the Dominican Republic’s world-famous white-sand Caribbean beaches and vibrant local gastronomy to its rich musical traditions, handcrafted artisanal goods, centuries-old cultural heritage, and one-of-a-kind travel experiences that cater to every type of traveler.

    More than 35 private-sector stakeholders will join the official national delegation, spanning major hotel groups, boutique accommodation providers, and specialized tourism experience companies that operate across the country. The delegation’s core agenda for the event centers on three key priorities: unlocking new cross-border business partnerships, amplifying the Dominican Republic’s profile as a top global travel destination, and expanding and strengthening international air connectivity between the country and regional and global markets.

    Hosted in Argentina’s capital, FIT Latin America 2026 will occupy more than 20,000 square meters of total exhibition space, making it one of the largest regional tourism industry gatherings of the year. To accommodate both public interest and professional networking, event organizers have structured the schedule to welcome general leisure travelers on the first two days, September 26 and 27, while reserving the final two days, September 28 and 29, exclusively for B2B meetings and engagements among tourism industry professionals.

    This high-stakes participation in FIT Latin America is not an isolated appearance: it forms a core part of the Dominican Ministry of Tourism’s long-term, global promotion strategy, which aims to solidify the country’s reputation as a must-visit travel destination among travel industry leaders, tour operators, and tourism businesses across the Latin American region. The strategy builds on the momentum from recent international exhibitions, continuing the country’s steady push to expand its tourism market share and attract more international visitors from across the globe.

  • Straw vendors face income loss during Bay Street Market closure, urge better communication for future maintenance

    Straw vendors face income loss during Bay Street Market closure, urge better communication for future maintenance

    Nassau, Bahamas – A routine 48-hour closure of the iconic Bay Street Straw Market for annual maintenance and deep cleaning has sparked financial strain for local straw vendors, who warn the shutdown is cutting into critical earnings during an already sluggish sales season. What’s more, many sellers lost additional working days to the pre-closure work of preparing their stalls, compounding the financial blow.

    Rebecca Small-Morley, president of the Straw Business Persons Society, explained that while vendors received roughly 30 days’ advance notice of the shutdown, which runs across Wednesday and Thursday, the timing still poses a major hardship for workers who rely entirely on daily in-person sales to make ends meet. The market is scheduled to resume regular operations at 7 a.m. on Friday.

    The Straw Market Authority, the governing body that oversees the popular tourist-focused market, has defended the two-day closure, arguing that full-scale deep cleaning, structural repairs, and routine maintenance work cannot safely be completed while the market is open to shoppers. Executive Chairman Joseph Johnson emphasized in an official statement that the shutdown is necessary to complete “essential work” to uphold a safe, hygienic environment for vendors, market staff, and the thousands of tourists that visit the site annually.

    Small-Morley clarified that vendors do not push back on the need for cleaning and upkeep; their complaint centers on the disruptive scheduling of the work, and they are calling for administrative changes to minimize future income losses. Initially, the authority required vendors to remove all of their merchandise from the market entirely, a demand that Small-Morley and the Straw Advancements Association pushed back against. Small-Morley cited a past incident where one vendor moved all her products off-site, only for heavy rain to damage a portion of her stock, leaving her to cover unexpected extra costs for transportation and labor to relocate the goods. After negotiations, vendors reached a compromise to move all stock off the floor and store it inside their individual stalls, eliminating the need for full off-site removal.

    Looking ahead, Small-Morley is advocating for alternative scheduling for future maintenance work. She proposed that routine cleaning be completed after vendors end their daily shifts or during quiet evening hours, with more specialized, large-scale work scheduled separately on an as-needed basis to avoid full shutdowns. “I’m hoping that they could hire people going forward who could come in and do cleaning at a certain point where we wouldn’t have to be disrupted any longer from any income, especially during the low season,” she said in an interview.

    Small-Morley noted that even meager daily earnings make a huge difference for vendors during the slow sales period. “I got a vendor who said I made $30 one day. The next day, I made $40,” she shared. “I’m just saying, if she needed to buy lunch, she still could buy lunch. That may not be much, but it’s something coming in.” The shutdown hits especially hard for low-income vendors who do not have substantial emergency savings to cover gaps in income. “Let’s face it, an average person doesn’t have $1,000 in their savings account to say, we have a week off; that’s not an average person,” she added.

    In a silver lining, the market’s closure coincides with a new initiative to support vendors: the Ministry of Culture, Arts and Heritage is hosting its first-ever vendor empowerment session on the second day of the shutdown, with two sessions offered to accommodate different schedules: one from 10 a.m. to 1 p.m. and a second from 5 p.m. to 8 p.m. Small-Morley confirmed that any vendor who attends the session will receive a one-week rent discount for their stall, and the event will also include a listening session where vendors can voice concerns and share suggestions for the market’s future management.

    Despite this positive step, Small-Morley flagged ongoing communication gaps between vendors and the newly appointed Straw Market Authority board. She explained that while vendors have seen the names of new board members, they have not received formal introductions, nor have they been briefed on the board’s strategic plans for the market. “You don’t know who is who, and that’s a problem because I feel that you should introduce yourself to the two leaders of the market,” she said. “Give us your game plan, ask us what we are expecting or looking forward to from the new board, but nothing of that nature has happened.” Small-Morley added that the timing of the new board’s appointment has not been publicly shared with vendors, and poor communication remains a persistent systemic issue at the market. She has called on the new board to establish clear, consistent lines of communication with vendors and their elected representatives.

    Small-Morley also addressed recent public speculation that the two-day closure was timed to coincide with the upcoming royal visit of King Charles III, telling reporters that she has received no official information linking the shutdown to the trip, and the speculation is unfounded.

  • Barbados pursues new tax, investment treaties

    Barbados pursues new tax, investment treaties

    As the Caribbean nation works to draw fresh foreign capital and strengthen cross-border economic ties, Barbados is actively advancing negotiations for new double taxation agreements (DTAs) and bilateral investment treaties (BITs) with a range of non-conventional trading partners, including an unnamed European country that has already held informal talks with Barbadian authorities, a top government official confirmed this Wednesday.

    Speaking to journalists at the official media launch of Global Business Week, hosted at CIBC Great House in Warrens, Kevin Hunte, Permanent Secretary of Barbados’ Ministry of Business, outlined that ongoing discussions are focused on securing both a DTA and BIT with the undisclosed European partner. Hunte emphasized that the government’s push to expand the country’s existing network of international tax and investment treaties has not slowed amid shifting global economic conditions, noting that Barbados has worked for years to open formal negotiations with this particular European nation.

    A cross-government working group, comprising the Ministry of Business, Ministry of Foreign Affairs, the Prime Minister’s Office and the Cabinet, currently conducts reviews to prioritize target jurisdictions for new agreements. Hunte added that in the current global tax landscape, bilateral investment treaties have gained greater urgency than traditional double taxation agreements, driven by widespread international restructuring of global tax frameworks.

    Sangene Watkins-Diagne, Director of the International Business Unit within the Ministry of Business, echoed Hunte’s comments, confirming that the government’s strategy centers on expanding the treaty network beyond Barbados’ long-standing core trading partners. The initiative is being developed in close collaboration with Pascal Saint-Amans, a senior tax policy expert serving as consultant to the Prime Minister.

    “Barbados already has comprehensive treaties in place with all of its major trading partners, so at this stage our focus is on branching out into less traditional jurisdictions,” Watkins-Diagne explained. She also provided an update on a recent diplomatic and economic win, noting that Barbados had successfully secured its removal from Spain’s controversial tax blacklist. Watkins-Diagne called the island’s previous inclusion on the list “very unfortunate,” crediting coordinated work between the Ministry of Business, Spain’s Honorary Consul in Barbados, and the Barbados Revenue Authority for engaging Spanish regulators and reversing the designation.

    While the government has already compiled a formal list of priority countries for new treaty negotiations, Watkins-Diagne noted that progress depends entirely on the willingness of partner nations to enter into formal talks with Barbados. “We do have a list of priority countries, but we need to hold preliminary discussions to confirm whether a country is willing to negotiate a double taxation agreement with us, so those conversations are still ongoing across multiple jurisdictions,” she said.

    She confirmed that the European country referenced by Hunte has only been part of unofficial exploratory talks to date, with no formal negotiations launched yet, so the nation’s name will remain undisclosed for the time being. Watkins-Diagne argued that securing a DTA and BIT with this European partner would likely open the door for similar agreements with other non-traditional jurisdictions, creating a domino effect for future expansion.

    In an open appeal to the international business community, Watkins-Diagne called on investors and cross-border service providers to share feedback on which new treaties would deliver the greatest benefit to their operations and clients. “We continue to work actively in expanding our treaty network. If any investors or service providers have ideas, or have heard their clients say that their work would be transformed if Barbados had a treaty with a specific country, we want to hear that input,” she stated.

    The announcement came during the media launch for the 2026 Global Business Week Conference, which is scheduled to take place October 22–23 at the Wyndham Grand Barbados Sam Lord’s Castle Resort. This year’s conference will center on the theme “Resilience: Adapting, Transforming, Thriving,” bringing together global business leaders to discuss economic adaptation and growth in an evolving global tax and investment landscape.

  • IMF voorziet groeisprong Suriname bij start offshore olieproductie

    IMF voorziet groeisprong Suriname bij start offshore olieproductie

    International Monetary Fund analysts have projected a historic economic expansion for Suriname, with growth set to jump to roughly 30% in 2028 when the country’s new offshore oil fields begin commercial production, according to a dedicated country assessment published earlier this year. The forecast, which does not appear in the IMF’s 2026 Annual Report released this week, anticipates steady moderate growth of around 4% annually between now and the launch of oil output.

    Suriname’s non-resource economic sector is projected to grow 4.7% in 2026 alone, the Article IV assessment notes. Combined with ongoing development of offshore oil infrastructure and stable gold production, overall annual economic growth will hold near 4% through both 2026 and 2027 before the 2028 spike, the Fund predicts.

    While the incoming oil revenue represents a generational economic opportunity for Suriname, the IMF emphasizes that the country must strengthen its institutional frameworks before 2028 to turn resource wealth into broad-based improvements in living standards. To deliver long-term shared prosperity, the Fund says Suriname must shore up public financial management, deliver targeted infrastructure investments, and maintain consistent macroeconomic stability.

    A separate technical IMF report from May 2026 acknowledges that Suriname has already taken key legislative steps to prepare for oil revenue, including tightening public finance rules and updating the national Savings and Stabilization Fund. However, practical implementation of these new regulatory frameworks remains incomplete, the Fund adds, citing constrained institutional capacity and delays in finalizing supporting legislation.

    Alongside its country-specific guidance for Suriname, the IMF’s 2026 Annual Report highlights growing pressures on public finances across the globe. Global public debt is once again on the rise, and higher interest payments have eroded government budget space for critical priorities including education and infrastructure development. The report notes that global interest payments as a share of gross domestic product have climbed from roughly 2% to nearly 3% in just three years, forcing low-fiscal-space nations to make tough trade-offs on public spending.

    The Fund also stresses the value of multi-year budgeting and rigorous cost-benefit analysis for large-scale infrastructure projects, measures that can improve the efficiency of public spending and support sustained long-term growth. This guidance carries extra weight for Suriname as it approaches 2028: the country not only needs to maintain disciplined management of current public finances, but also build durable institutions capable of overseeing the much larger revenue streams that will flow from the new oil sector.

    The IMF’s latest assessment repeats a warning that policy missteps before production launches would pose significant risks to Suriname’s macroeconomic stability. Even with the prospect of massive new oil revenue, the Fund stresses, the country cannot afford to delay putting its public finances in order ahead of the sector’s launch.

  • Belize’s Celebrates 50 Years of Dollar Stability!

    Belize’s Celebrates 50 Years of Dollar Stability!

    On September 23, 2026, Belize celebrates a landmark economic milestone: 50 years of maintaining its fixed currency peg, a policy that has kept two Belize dollars pegged at parity with one U.S. dollar. This decades-long arrangement has become a foundational pillar of daily life for all Belizeans, influencing everything from the sticker price of groceries at local markets to credit card transactions, cross-border travel, and international online purchases. What many casual observers may overlook, however, is that this consistent exchange rate did not happen by accident: it is the product of 50 years of deliberate fiscal discipline, tough policy tradeoffs, and consistent, steady macroeconomic management. To mark this golden anniversary, three of Belize’s top economic and political leaders have opened up about the work required to preserve the peg, its profound impact on ordinary citizens, and the steps that must be taken to protect this critical institution for future generations.

  • SpaceX Among Major Sponsors of Commonwealth Business Forum in A&B

    SpaceX Among Major Sponsors of Commonwealth Business Forum in A&B

    The upcoming Commonwealth Business Forum, scheduled to take place in Antigua and Barbuda (A&B), has secured Elon Musk’s aerospace and space transportation company SpaceX as one of its headline sponsors, organizers confirmed in an official announcement this week.

    The high-profile gathering, which brings together business leaders, government policymakers, and innovation stakeholders from across the 56-nation Commonwealth bloc, is focusing this year on expanding global connectivity, advancing technological innovation, and unlocking infrastructure investment across developing small island states. Organizers say SpaceX’s participation as a major sponsor aligns perfectly with the forum’s core priorities, particularly the company’s work in developing satellite internet constellations that aim to bridge the digital divide in remote and underserved regions.

    Commonwealth Business Council officials noted that the inclusion of a leading technology and aerospace firm like SpaceX reflects the shifting focus of global business cooperation toward next-generation industries that can drive inclusive economic growth. Small island developing states such as Antigua and Barbuda have repeatedly identified improved digital connectivity as a critical catalyst for boosting tourism, expanding remote work opportunities, and strengthening climate resilience — all key agenda items for this year’s forum.

    Industry analysts point out that the sponsorship also opens new doors for SpaceX to deepen its partnerships with Commonwealth nations, potentially expanding the adoption of its Starlink satellite internet service across multiple small island economies that have long struggled with limited terrestrial connectivity infrastructure. The forum, expected to host more than 1,000 delegates from around the world, will run alongside the Commonwealth Heads of Government Meeting, which is also being held in Antigua and Barbuda this year. Additional major sponsors include multinational banking groups, renewable energy firms, and global technology consultancies, but SpaceX’s backing has drawn particular attention due to the company’s high profile and its disruptive work in both space exploration and global digital infrastructure.

  • $1.06M at centre of new charges in Creators Alliance case

    $1.06M at centre of new charges in Creators Alliance case

    More than 18 months have passed since the high-profile investment platform Creators Alliance abruptly collapsed, leaving thousands of regional investors facing devastating financial losses. Now, the ongoing investigation into the fraudulent scheme has reached a new milestone, with Saint Lucia’s Financial Intelligence Authority (FIA) bringing seven fresh money laundering charges against Electra Fernand, a resident of Massade, Gros Islet.

    The newly filed charges center on approximately $1.062 million in illicit funds allegedly tied to the now-defunct Creators Alliance project, and represent a separate line of inquiry from prior charges leveled against Fernand in connection with the scheme.

    Fernand made her first court appearance on the new charges Wednesday at Saint Lucia’s First District Court, where she was granted bail ahead of upcoming legal proceedings. This is not Fernand’s first encounter with regulators over the Creators Alliance case: back in May 2025, she was among six people charged with operating an unlicensed virtual asset business, a violation of the island nation’s Virtual Asset Business Act.

    Of that original group of six defendants, court records show one individual entered a guilty plea in May 2026. The remaining five defendants, including Fernand, remain out on bail as they await trial on the 2025 unlicensed business charges. While those proceedings move forward, FIA investigators have continued to unpack the full scope of alleged financial misconduct linked to Creators Alliance, work that ultimately yielded the seven new money laundering counts against Fernand.

    To understand the context of the charges, it is necessary to revisit the origins of the scheme. Creators Alliance first began soliciting investors across Saint Lucia and the broader Caribbean region starting in June 2024. It marketed itself as a revolutionary digital content platform, where investors could purchase access packages and earn guaranteed returns by creating and uploading short-form videos. Early participants in the scheme did receive small payouts, a common tactic used by fraudulent investment operations to build trust and draw in more capital.

    That narrative quickly unraveled by early 2025. Investor payments stalled abruptly, and within months, the Creators Alliance platform shut down entirely. When the closure came, countless investors were left with no way to recoup the funds they had poured into the project.

    FIA investigators have concluded that Creators Alliance was structured as a pyramid-style scam, a fraudulent model that relies on constant inflows of new investor money to pay returns to early participants, rather than generating legitimate profits. When new investments stopped flowing in, the scheme inevitably collapsed, leaving thousands of people across Saint Lucia and the Caribbean with major financial losses.

    Under Saint Lucia’s current Money Laundering (Prevention) Act, each money laundering charge against Fernand carries a severe maximum penalty: convicted offenders can face fines of up to $1 million, and up to 15 years of imprisonment, or both.

    In the wake of the new charges, FIA has issued a renewed public warning about the risks of unregulated investment offerings. Regulators are urging all members of the public to exercise extreme caution before committing funds to any investment opportunity that is not properly authorized or registered. The agency also advises investors to always seek independent professional financial advice, and to verify the licensing and legitimacy of any investment entity before transferring any money.

  • Royal Caribbean takes US$3 billion stake in Sandals

    Royal Caribbean takes US$3 billion stake in Sandals

    One of the travel industry’s most anticipated cross-sector partnerships was officially announced this week, as global cruise giant Royal Caribbean Group has struck a landmark deal to acquire a 50% ownership stake in iconic Caribbean-born hospitality brands Sandals Resorts and Beaches Resorts for an investment of roughly $3 billion. The agreement, unveiled in an official joint statement released Wednesday, will establish an equal 50-50 joint venture between the two players, bringing together Royal Caribbean’s global vacation industry clout and Sandals’ decades-long legacy as a leading Caribbean resort operator.

    Founded in 1981 by legendary Jamaican entrepreneur Gordon “Butch” Stewart, who passed away in 2021, Sandals Resorts has grown from a small Caribbean startup into one of the most recognized all-inclusive hospitality brands in the region. Today, the company is helmed by Stewart’s son, Adam Stewart, who serves as executive chairman of Sandals and Beaches Resorts. In the wake of the announcement, Adam Stewart moved quickly to reassure stakeholders that the partnership will not alter the brand’s core Caribbean identity. In a social media post, he emphasized: “Sandals will remain Sandals. Beaches will remain Beaches. Our home is the Caribbean.”

    Stewart added that the collaboration will retain the company’s existing team of employees, network of independent travel advisers, and signature hospitality philosophy at the core of operations, while unlocking new resources to accelerate international growth. Echoing his father’s founding vision, Stewart noted that the elder Stewart launched Sandals with the belief that a Caribbean-founded company could compete alongside the most respected global hospitality brands on the world stage. “Today is proof of how far that vision can go,” he said in the official statement. “This partnership is the natural next step in building on that conviction. It gives us the ability to grow faster with a partner that shares our values of exceptional hospitality, long-term investment, and the power of enduring brands.”

    For Royal Caribbean Group, the joint venture marks a key milestone in the company’s long-term strategy to expand beyond its core cruise business and build a comprehensive, multi-experience global vacation platform. Jason Liberty, chairman and chief executive officer of Royal Caribbean Group, called the Sandals partnership “an important next step” in that ongoing expansion effort.

    Under the terms of the agreement, the new joint venture will be overseen by a shared governing structure, with both Liberty and Stewart serving as co-chairmen of the venture’s board of directors. The transaction is targeted to close in early 2027, and remains subject to standard closing conditions as well as required regulatory approvals from relevant governing bodies.

    Currently, Sandals and Beaches Resorts operate a combined portfolio of 20 premium all-inclusive properties spread across 10 different Caribbean island nations and territories, including Jamaica, Antigua, The Bahamas, Saint Lucia, Grenada, Barbados, Curaçao, St Vincent and the Grenadines, and Turks and Caicos.

  • SLM mikt op uitbreiding vloot en nieuwe bestemmingen

    SLM mikt op uitbreiding vloot en nieuwe bestemmingen

    Suriname’s national flag carrier, Surinaamse Luchtvaart Maatschappij (SLM), has announced a sweeping multi-year strategic plan focused on fleet modernization, route network expansion, operational reliability improvements, and the long-term goal of establishing Suriname as a prominent regional aviation hub. SLM Director Johan Sandie outlined the ambitious roadmap in an official briefing through Suriname’s Communication Service, framing the carrier as being in a critical transitional phase centered on core priorities of stability, operational dependability, customer-centric services, digital transformation, and stronger industry partnerships.

  • Saint Lucia tops Expedia’s 2026 Hot List

    Saint Lucia tops Expedia’s 2026 Hot List

    Caribbean destination Saint Lucia has earned a top industry honor just as its major international tourism showcase wrapped up, cementing its growing reputation as a must-visit global travel spot. The Saint Lucia Showcase International, a major industry event gathering international trade partners, media representatives and travel sector stakeholders from across the globe, concluded in recent days with widespread acclaim as a successful gathering for the island’s tourism sector. It was at the event’s closing gala dinner that attendees got an unexpected, exciting announcement: Saint Lucia had secured the number one spot on Expedia Group’s highly anticipated 2026 Hot List of top travel destinations.

    The award was presented officially to Saint Lucia’s tourism leadership by two senior Expedia Group representatives: Nuno Sales da Ponte, the company’s Director of Market Management covering the Caribbean and Central America, and Miguelina Cespedes, Senior Business Development Manager focused on the Caribbean region. Dr. Ernest Hilaire, Saint Lucia’s Minister of Tourism, accepted the prestigious honor on behalf of the island nation.

    Tourism officials in Saint Lucia note that this top ranking from one of the world’s leading online travel platforms underscores the destination’s rapidly rising appeal among international travelers. The recognition, they say, celebrates the island’s one-of-a-kind combination of dramatic natural beauty, ranging from its iconic twin Piton peaks to its pristine palm-fringed beaches, authentic immersive travel experiences, vibrant local culture, and the warm, welcoming hospitality that defines the island’s community.

    Speaking after accepting the award, Hilaire shared that receiving the honor during the Saint Lucia Showcase International made the moment even more meaningful. “I was genuinely surprised by the presentation, but I could not think of a more fitting moment to receive it,” he said. “To stand before our international trade partners and media colleagues who had travelled to Saint Lucia to experience our destination, our people and our hospitality first-hand, and to accept this recognition on behalf of the entire island, is something I am extremely proud of.”

    Industry analysts note that a top ranking on Expedia’s annual Hot List typically drives a significant uptick in visitor inquiries and bookings, as leisure travelers rely on the curated list to plan upcoming trips. For Saint Lucia’s tourism sector, which has worked steadily to rebuild and grow international visitor volumes following global travel disruptions in recent years, the honor comes as a major boost that is expected to draw even more travelers to the island in the coming years.