Against the backdrop of the ongoing post-COVID economic recovery effort, Antigua and Barbuda’s Minister of Foreign Affairs E.P. Chet Greene has issued a public appeal to private sector investors, urging them to back the development of a custom-built national conference centre. Speaking at a Commonwealth Heads of Government Meeting (CHOGM) town hall event this Wednesday, Greene highlighted a critical gap in the country’s tourism infrastructure that is currently holding back economic growth. He emphasized that this infrastructure shortcoming means Antigua and Barbuda is forced to turn down a number of high-profile international gathering opportunities, as the nation currently lacks the specialized amenities and large-scale venue capacity required to host major global events. While Greene publicly commended the existing conference facility operated by the American University of Antigua, which is serving as a core host venue for this year’s CHOGM, he noted that additional purpose-built infrastructure is needed to expand the country’s ability to attract a steady stream of future international events. Expanding conference tourism is a central pillar of the Antigua and Barbuda government’s strategy to diversify the national economy and reverse the widespread economic disruption caused by the COVID-19 pandemic. For the upcoming 2024 CHOGM, which is scheduled to run from November 1 to 4, Antigua and Barbuda is projecting that around 5,000 international participants will travel to the country for the main summit and its linked side events. “As the government continues to make targeted interventions to grow this sector, private investment will be the critical catalyst to move this process forward,” Greene told attendees. At the time of his address, the minister did not share details of any specific private development proposal, outline a formal financing framework, or announce a projected construction timeline for the new conference centre. The appeal comes as many small island developing states like Antigua and Barbuda work to build out high-value niche tourism sectors to reduce their reliance on traditional leisure travel and build greater economic resilience against future global shocks.
分类： business
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SVG to sign cruise port deal on Monday
St. Vincent and the Grenadines (SVG) is poised to lock in a transformative long-term partnership with Global Ports Holding (GPH), the world’s largest cruise port operator, with a formal concession agreement scheduled for signing this Monday, the country’s Tourism Minister Kishore Shallow has confirmed.
The upcoming agreement builds on a memorandum of understanding (MoU) agreed between the SVG government and GPH back in July. Under the terms of the planned partnership, GPH will secure a 30-year concession to operate the country’s cruise infrastructure, and commit to a phased investment package totaling up to EC$250 million. The core investment will go toward modernizing the aging Kingstown Cruise Terminal and expanding cruise tourism capacity across SVG’s multiple island destinations.
Addressing the country’s Parliament on Thursday, Shallow framed the upcoming signing as a defining turning point for SVG’s cruise tourism sector, one that goes far beyond just infrastructure upgrades. Unlike previous development projects, this partnership has been structured specifically to redirect more of the economic benefits generated by cruise tourism directly to local Vincentian workers and businesses, including independent taxi drivers, local tour operators, street vendors, family-owned restaurants, and small-scale retail businesses across the country.
The push for infrastructure upgrades comes as SVG faces mounting constraints that have held back the sector’s growth. Shallow explained that as cruise lines transition to larger and more profitable vessels, SVG’s current outdated terminal is unable to accommodate many of these new ships. The country currently has no capacity to berth extra-large (XL-class) cruise ships, and even mid-sized larger vessels operated by major lines including Carnival and Britannia have required special workaround arrangements.
As a temporary solution for an upcoming Carnival vessel visit that cannot fit at the existing terminal, the government will host the ship at the alternative Modern Port in Kingstown. To welcome the passengers and mark the unique visit, officials have organized a public fun fair and a cultural street party dubbed “Carnival for Carnival” jump-up.
Shallow noted that investment in expanded capacity is critical to keep pace with already growing demand for cruise stops in SVG. Official projections show the country is on track to see dramatic passenger growth in coming seasons: the 2024–25 cruise season is expecting 231 ship calls and 247,000 passengers, followed by 246 calls and 239,000 passengers in 2025–26. By the 2026–27 season, arrivals are set to jump to 355 ship calls and 344,000 passengers – a 43% increase in passenger volume, equal to roughly 105,000 additional visitors compared to the prior season.
Beyond the infrastructure partnership, Shallow outlined four key priorities for the Ministry of Tourism moving forward: the ongoing Love SVG national tourism initiative, product development, a full national tourism brand refresh, and a planned “cruise shipboard transition” to update on-board visitor offerings. The rebranding will include a new national tourism logo, set to debut at the upcoming Independence Parade, while product development work will focus on expanding authentic, culturally immersive experiences that highlight SVG’s local heritage for visitors.
Shallow pointed to existing GPH-managed ports in the Bahamas and San Juan, Puerto Rico as proof of the company’s ability to transform cruise destinations through targeted investment. While SVG faces financial constraints and stiff competition from other popular Caribbean cruise destinations, the minister expressed confidence the partnership will deliver comparable positive results for the country.
The final agreement is the result of months of extensive cross-functional work covering legal, technical, commercial, and policy review, with input collected from a wide range of local industry stakeholders. Shallow thanked the Attorney General and her legal team for their work on finalizing the agreement, noting that Prime Minister Godwin Friday will share additional details about the partnership with the public in the near future.
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Dominican Republic promotes executive aviation at NBAA-BACE 2026
Las Vegas, Nevada – The Dominican Republic’s national Airport Department (DA) has made a targeted high-profile appearance at the 2026 National Business Aviation Association Business Aviation Convention & Exhibition (NBAA-BACE), held across October 20 to 22 in Las Vegas, to position the nation as a leading strategic hub for executive and private aviation across the Caribbean region. Leading the official delegation, DA Executive Director Mérido Torres Espinal outlined that the agency’s presence at the flagship global industry gathering is centered on three core priorities: unlocking new inbound investment streams, forging mutually beneficial cross-border commercial partnerships, and elevating global awareness of the Dominican Republic’s robust air connectivity network and world-class airport infrastructure. Over the three-day event, the Dominican delegation conducted a series of closed-door bilateral meetings with top-tier business aviation operators, infrastructure developers, and sector stakeholders to map out actionable collaboration pathways that drive growth in the country’s airport ecosystem. The DA’s dedicated exhibition booth also delivered immersive demonstrations of the nation’s modern airport facilities, premium passenger services, and operational capabilities to thousands of event attendees. Widely recognized as the world’s premier business aviation industry event, the 2026 iteration of NBAA-BACE hosted more than 700 specialized exhibitors and over 17,000 registered industry professionals from across the global aviation value chain. Agency officials emphasized that this strategic participation forms a key component of the Dominican government’s broader roadmap to expand regional air connectivity, diversify the country’s tourism product beyond traditional leisure travel, and catalyze long-term, sustainable growth in the high-value executive and private aviation segment.
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Dominican Republic ranks sixth among top destinations for U.S. travelers
Newly aggregated travel and tourism metrics from independent analytics firm The Quiet Analyst, cross-verified with official Dominican Republic government datasets, reveal that the Caribbean nation claimed the 6th position on the list of most sought-after international destinations for U.S. leisure and business travelers over the January to July 2026 period, drawing roughly 2.19 million American visitors arriving via commercial air routes. This ranking places the Dominican Republic ahead of a slate of popular European hotspots including Japan, Germany, Greece, and Portugal, while the top five positions on the global ranking are locked in by long-time U.S. travel favorites: neighboring Mexico leads the pack with 8.06 million American visitors, followed closely by Canada at 7.99 million, with Italy, France, and Spain filling the third, fourth, and fifth spots respectively. Official figures released by the Central Bank of the Dominican Republic narrow down the exact U.S. tourist arrival count for the seven-month window to 2,186,532, marking a 4.1% year-over-year increase from the 2,099,620 U.S. travelers recorded over the same January to July timeframe in 2025. Broader data from the country’s Ministry of Tourism paints an even fuller picture of the nation’s 2026 tourism performance through mid-year: total inbound visitors across all arrival channels hit 7.7 million, with 5.89 million travelers arriving by air and an additional 1.81 million cruise and maritime passengers docking at the nation’s coastal ports. The sustained, growing influx of U.S. travelers reinforces the outsized economic significance of the American market to the Dominican Republic’s core tourism ecosystem, delivering steady, high-volume demand for local hotel accommodations, ground transportation services, guided excursion operators, dining establishments, and a wide range of adjacent tourism-linked small businesses. For ongoing, real-time coverage of Dominican Republic industry and economic developments, follow updates from DominicanScope.
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Scotiabank expands Baha Mar partnership with multi-year festival sponsorship
In a major expansion of its local event footprint, Scotiabank has formalized a multi-year presenting sponsorship agreement for the annual Bahamas Culinary & Arts Festival hosted at Baha Mar, marking a step up from its limited initial involvement in the high-profile Cable Beach gathering that draws globally renowned culinary talent from across the world. Under the terms of the newly signed arrangement, the Canadian financial institution will also serve as the festival’s exclusive dedicated financial services partner. The event’s fifth iteration officially launched yesterday and is scheduled to run through the coming Sunday, though neither Scotiabank leadership nor Baha Mar management have released public details regarding the total monetary value of the partnership or the exact number of years the multi-year contract will remain in effect. Scotiabank representatives noted that the overwhelmingly positive levels of interaction with both personal banking clients and local business stakeholders during its first year of supporting the festival directly motivated the decision to scale up the scope of the collaboration. Roger Archer, Vice President and Country Head of Scotiabank Bahamas, emphasized that the expanded alliance with Baha Mar underscores the company’s firm confidence in the long-term economic potential of the Caribbean region, as well as its recognition of culture’s unparalleled ability to unify diverse communities, spark new cross-sector commercial opportunities, and drive inclusive, sustainable economic progress for local populations. Archer further explained that the festival provides an unparalleled, globally visible stage for emerging and established chefs, visual artists, and hospitality operators across the Caribbean to showcase their work to an international audience, while also creating meaningful opportunities for Scotiabank to nurture deeper, more authentic connections with its customer base and the communities it serves. The bank added that the sponsorship aligns closely with its core institutional mandate to provide targeted support to hospitality sector businesses, an industry it identifies as one of the most critical sources of recurring revenue for countless small island nations across the Caribbean. The agreement also dovetails seamlessly with Scotiabank’s long-running Global Arts Program, an initiative that oversees a curated collection of nearly 10,000 artworks distributed across the bank’s worldwide operating locations. This year’s festival talent roster features a star-studded lineup of master culinary names including Daniel Boulud, Marcus Samuelsson, Dario Cecchini, and Scott Conant, alongside celebrated local Bahamian talents such as chef Simeon Hall Jr and award-winning mixologist Marv “Mr Mixx” Cunningham. Organizers have intentionally elevated the focus on indigenous Caribbean culinary traditions for the 2025 event, adding Saint Lucia-born chef Nina Compton, Trinidad heritage-rooted chef Tristen Epps, and Lisa and Chris Binns, the pioneering duo behind Jamaica’s beloved Stush in the Bush dining concept. Grammy-nominated mainstream band OneRepublic is set to deliver the headline performance at the Taste of Baha Mar welcome party taking place on Friday evening, while the FUZE Art & Culinary Expo, a dedicated showcase for regional Caribbean creative talent, will operate across Saturday and Sunday. As a publicly traded institution listed on both the Toronto Stock Exchange and New York Stock Exchange, Scotiabank reported total consolidated assets of approximately $1.5 trillion as of July 31, 2026.
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Déjà vu: Why “fiscal blasphemy” should be rebuked
In a sharply framed analysis from Richard W Duncan OBE — a retired senior finance official, former Accountant General, and current Ministry of Finance advisor — the long, fraught path to Grenada’s hard-won fiscal maturity is under fresh threat from a poorly conceived, election-driven income tax policy proposal ahead of the 2026 general poll.
Duncan coins the term “fiscal blasphemy” to describe deliberate disregard for decades of hard-earned public finance prudence forged since 1986, through the turmoil of industrial unrest, persistent budget shortfalls, and multiple structural adjustment programmes including both IMF-mandated frameworks and the landmark home-grown 1995 adjustment plan that restored Grenada’s international credit standing, rebuilt investor confidence, and unlocked critical donor funding for public sector infrastructure projects.
Drawing on first-hand archival accounts from his 1996 publication *Walking the Straight and Narrow — Issues and Perspectives in Grenada’s Public Administration*, Duncan recounts a 1995 meeting with then-Prime Minister Dr Keith Mitchell and top finance ministry staff, where Mitchell announced a pre-planned pledge to abolish income tax without prior technical analysis, and explicitly stated he did not require the finance ministry’s input on the policy’s feasibility. That unvetted, politically motivated gambit, Duncan notes, led to the total squandering of the home-grown structural adjustment programme’s hard-won gains: successive administrations began reckless borrowing to cover recurring deficits, issued unvetted state guarantees to questionable local and foreign investors that later swelled public debt, and even obfuscated true debt metrics by redefining public debt categories and only referencing debt-to-GDP ratios rather than disclosing full nominal debt stock to avoid public scrutiny.
Duncan contrasts that historical recklessness with Grenada’s robust, multi-year economic upswing that predated the COVID-19 pandemic and persists today, as independently verified by the IMF’s Article IV reports, Eastern Caribbean Central Bank assessments, Caribbean Development Bank data, and Fiscal Resilience Oversight Committee findings. The current strong macroeconomic landscape — marked by record-low unemployment, surging tourism arrivals, booming public and private construction, targeted cost-of-living support measures, near-historic low non-performing loan rates across local financial institutions, and ample system liquidity — rests on a carefully calibrated three-pillar tax system of income tax, import duties, and VAT, anchored by a suite of robust 2014 and 2015 public finance laws governing fiscal responsibility, public debt management, and public procurement.
Duncan calculates that the newly proposed uncosted income tax overhaul would cost upwards of $90 million annually, a gap that would force policymakers to either slash critical public services or repeal the landmark Fiscal Resilience Act, derailing the country’s 2027 fiscal restoration targets and plunging Grenada back into the cycle of debt and fiscal instability it spent decades escaping. Instead of sweeping, unplanned tax overhauls, Duncan advocates for targeted, evidence-based incremental improvements to the existing income tax regime, including expanded digitisation of tax administration, better taxpayer support services, upskilling and fair remuneration for tax agency staff, and stricter enforcement to boost compliance. He concludes with a cautionary note that the country must not allow short-term political election pressures to erase the decades of progress that delivered its current unprecedented fiscal stability. -
Economy : 62 Savings and Credit Cooperatives, 40.13 Billion Gourdes in Assets
Against a backdrop of persistent economic instability and widespread security challenges across Haiti, the country’s network of licensed savings and credit cooperatives has emerged as an unshakable pillar of local financial access, according to new data released by the Bank of the Republic of Haiti (BRH) to mark the International Day of Credit Unions.
As of the end of June 2026, the BRH reports that 62 formally licensed credit unions operate across the country, serving a rapidly growing member base and holding cumulative total assets of 40.13 billion Haitian gourdes. The central bank’s breakdown of key sector metrics highlights just how critical these community-focused financial institutions have become for Haitian households and small entrepreneurs shut out of traditional banking services.
One of the most impactful contributions of Haiti’s credit union movement is its commitment to expanding financial inclusion into underserved and marginalized regions. In multiple localities including Dano, Belle-Anse, and Marre-Rouge, credit unions stand as the only formal financial institutions operating within community borders. This local presence has grown even more vital in recent years, as widespread insecurity has made long-distance travel for basic services dangerous or impossible for many Haitians.
The latest official figures confirm that the sector continues to grow and serve community needs even amid national turbulence. As of the mid-2026 reporting cutoff, the sector held 32.60 billion gourdes in total member deposits and had disbursed 20.19 billion gourdes in net outstanding loans to members across the country. Total membership has now crossed the 1.5 million threshold, reaching exactly 1,520,094 registered members as of June 30, with more than 50,000 active borrowers holding open loans.
Unlike traditional commercial banks, credit unions operate on a member-governed model that centers community needs over profit. Of the more than 49,000 individual borrowers currently served by the sector, nearly 40 percent are women, and loans are structured to address the most pressing day-to-day and long-term needs of local members. Borrowers use financing to launch or expand small local businesses, cover school tuition for their children, pay for urgent healthcare costs, and purchase critical agricultural inputs for small farming operations that feed local communities.
A core principle of the cooperative model is democratic governance: every member holds one equal vote, regardless of their account balance or savings total. Members gather annually for general meetings, where they elect cooperative leadership, review annual financial performance reports, and weigh in on key institutional decisions. This direct member involvement has cultivated a culture of accountability and transparency that has helped the sector retain strong community trust through years of national crisis.
To support the long-term stability of the sector, the BRH implemented a formal governance framework back in 2024 with the issuance of Circular No. 10. The regulation establishes clear standards for risk management, operational transparency, and continuity of service, all designed to preserve member trust and reinforce the sector’s role as a driver of sustainable financial inclusion across Haiti. As the country continues to navigate overlapping economic and security challenges, Haiti’s credit unions remain a reliable lifeline for millions of people who would otherwise lack access to formal financial services.
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PM Briceño Presses Saudi Arabia on Stalled Energy Project
In a small, closed-door gathering in October 2026, Belizean Prime Minister John Briceño seized a rare opportunity to directly raise the issue of a long-delayed $77 million Saudi-backed energy development project with Saudi Arabia’s Minister of Finance, marking a potential turning point for the stalled initiative that is critical to Belize’s energy future.
The infrastructure project, financed through the Saudi Fund for Development, was originally designed to deliver targeted support to Belize’s growing energy sector, with the aim of expanding access to reliable power, encouraging investment in renewable energy capacity, and driving long-term economic growth for the small Central American nation. However, for months the project has failed to move past preliminary planning stages, leaving policymakers and industry stakeholders in Belize waiting for tangible progress.
Briceño confirmed that the informal meeting, which also included Anthropic co-founder Jack Clarke, gave him the chance to personally press the Saudi finance minister for clarity on the delays. “I managed to bring it up,” Briceño explained in remarks following the discussion. “He is not aware of all the ins and outs of it and he assured me that he is going to take a look at it and we believe that pretty soon we will see some action with that project.”
The commitment from the Saudi minister to launch a full investigation into the bottlenecks holding up the project has renewed hopes among Belizean officials that the stalled initiative can get back on track. For Belize, which has been working to expand its energy infrastructure and reduce reliance on imported fossil fuels, the completion of this Saudi-funded project is seen as a key step toward meeting both its economic development and climate goals.
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New Agreement Targets More Mexican Visitors to Central America
In a landmark move to strengthen regional travel collaboration and drive tourist arrivals across Central America, two leading tourism industry bodies have signed a strategic cooperation agreement at the 2026 Centroamérica Travel Market hosted in Guatemala City.
The deal, signed October 21 by the Federation of Chambers of Tourism of Central America (FEDECATUR) and Mexico’s National Association of Travel Agents (AMAV), lays the groundwork for closer connections between Mexican travel sellers and tourism operators across all seven Central American markets and the Dominican Republic.
Efren Perez, president of FEDECATUR, explained that the partnership goes far beyond basic information sharing, opening avenues for joint funding access, skills training programs and cross-regional tourism development projects that will strengthen the competitiveness of the Central American tourism brand globally. Under the agreement, 1,200 active Mexican travel agents will receive specialized, up-to-date training on the unique attractions and offerings of each member destination – including Belize, Guatemala, Honduras, El Salvador, Costa Rica, Panama, and the Dominican Republic – equipping them to more effectively market the region to Mexican travelers and international visitors booking through Mexican agencies.
Perez emphasized that private-sector collaboration like this agreement is critical to expanding the regional tourism ecosystem, unlocking shared growth and helping Central America stand out in an increasingly competitive global travel market.
For his part, Levi Williams Manzanares, president of AMAV, described the pact as one of the most significant tourism cooperation agreements the region has seen in recent years, noting that it will deliver tangible benefits to all 1,200 member agents across Mexico by expanding their product offerings and opening new revenue streams.
Beyond the agreement with AMAV, FEDECATUR also signed a second cooperation deal with the International Association of Tourism Corporation during the Guatemala City event, which will also support access to cooperative funding for training programs and cross-regional tourism infrastructure projects. Industry leaders expect the new partnerships to deliver a measurable increase in Mexican visitor arrivals to Central America over the next three years, while strengthening the overall resilience and competitiveness of the regional tourism sector.
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Deadline Looms: Fishermen Defiant on Monitoring Mandate
As the October 2026 implementation deadline for a new mandatory vessel tracking system approached, commercial fishing communities across Belize raised fierce opposition to the policy, forcing the national government to delay rollout to address stakeholder concerns.
The policy, introduced by the Ministry of Blue Economy and Marine Conservation, requires all commercial stone crab and shark fishing vessels to install a 24/7 Vessel Monitoring System (VMS) tracked by the Belize Coast Guard. Government officials have framed the mandate as a critical step to boost fishery regulation enforcement, prevent illegal fishing, and improve emergency response capabilities for vessels operating at sea. What was designed as a common-site pilot program to test ocean management, however, quickly sparked backlash from the fishing groups that would be most impacted by the new rule.
Leading the opposition is the Caye Caulker Fishers Association, which represents the vast majority of stone crab fishers in the region. Following an association-wide meeting last week, members voted unanimously to reject the mandate, saying the government imposed the requirement without any meaningful prior consultation with working fishers. Association president Ian Forte outlined a host of unresolved questions that have left fishermen deeply concerned about the policy’s implications, ranging from long-term costs to personal privacy.
“These aren’t unreasonable demands — these fishermen just want clarity before they are forced to install a permanent tracking device on their only source of income,” Forte explained. Among the top concerns are unresolved questions about who will cover ongoing subscription fees for the monitoring service after the pilot program concludes, and who is responsible for repairing or replacing damaged devices. Forte also noted that many small-scale fishing operators use their vessels for multiple purposes beyond commercial stone crab or shark fishing, including recreational trips and private tourism charters. The current VMS mandate requires 24/7 continuous tracking, meaning even non-fishing activity will be monitored and stored by authorities.
Forte drew a parallel to road transport policy to illustrate the privacy concerns, noting that a proposal to mandate GPS trackers on all private passenger vehicles to curb drunk driving would spark widespread public outrage. “This is the same principle. Why should fishing vessel owners surrender all their location data, all the time, without any explanation or consent?” he asked.
The Caye Caulker association sent a formal letter to the Department of Fisheries requesting an immediate pause on implementation to hold collaborative consultations that address fishermen’s questions before the policy moves forward. The Southern Fishermen Association, which represents the majority of the targeted shark fishing operations, has also issued a full rejection of the unmodified mandate.
In response to the organized opposition, Beverly Wade, Chief Executive Officer of the Ministry of Blue Economy and Marine Conservation, confirmed late on the original implementation deadline that rollout of the VMS requirement would be postponed. The delay will give government officials time to hold additional consultations with fishing stakeholders to address their concerns before moving ahead with the pilot program.