Carib Scope

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  • Grenada highlights offshore energy potential at IMAGE 2026 Conference

    Grenada highlights offshore energy potential at IMAGE 2026 Conference

    Grenada’s Hydrocarbons Technical Working Group has wrapped up a successful mission at the 2026 International Meeting for Applied Geosciences and Energy (IMAGE), held in Houston, Texas — one of the world’s most influential industry gatherings for energy geoscience professionals.

    During the conference, the Caribbean nation’s delegation leveraged the high-profile platform to host a targeted investor roadshow, reaching out to leading international oil and gas companies to highlight the country’s largely untapped offshore hydrocarbon potential and drum up support for its first-ever licensing round, scheduled to launch in 2027. At Grenada’s dedicated exhibition booth, team members held one-on-one discussions with prospective investors, industry partners, and leading geoscientists, walking attendees through newly completed technical assessments and walking them through the scope of the country’s untapped energy resources.

    The IMAGE 2026 participation delivered five key strategic wins for Grenada’s energy development ambitions. First, it granted the small island nation unmatched direct access to a global audience of major upstream operators and energy investors, putting its untapped offshore potential in front of the industry’s key decision-makers at a single premier event. Second, the delegation’s on-site engagement generated significant technical and commercial interest from attendees, who validated Grenada’s updated subsurface geological models, regional prospectivity analyses, and comparative geological studies through in-depth expert discussions. Third, the conference appearance successfully built pre-launch buzz for the upcoming 2027 licensing round, which will put seven offshore areas up for bidding: six fully defined exploration blocks and one open acreage area. Fourth, the event created a valuable space for technical knowledge exchange, with Grenada’s team sharing its latest evaluations of high-resolution 2D seismic basin data with global experts, highlighting confirmed active hydrocarbon indicators and global geological analogues that demonstrate the commercial viability of the country’s resources.

    For industry attendees, the conference appearance clarified key details about what Grenada is bringing to the table for the 2027 round. The total offshore acreage on offer covers approximately 28,600 square kilometers across the geological Grenada Basin and Tobago Trough, with water depths ranging from 180 meters to 3,000 meters, spread across the six defined blocks and one open exploration area.

    Geographically, Grenada’s offshore blocks are strategically located adjacent to already prolific producing basins controlled by major regional energy producers including Trinidad & Tobago, Venezuela, Guyana, and Suriname. Despite this favorable geological position, the area remains drastically underexplored: to date, only one exploratory well has been drilled in Grenada’s offshore territory, leaving up to 12 kilometers of sedimentary geological section untested for commercial hydrocarbon reserves.

    The technical data presented for the first time at IMAGE 2026 draws on a robust, newly compiled seismic database that combines two major multi-client 2D seismic surveys: 6,979 kilometers of CAMDI 2D seismic data collected by Geoex MCG, and approximately 710 kilometers of CARIBE SPAN 2D seismic data acquired by industry leader TGS.

    Advanced interpretations of this new seismic data have confirmed multiple promising prospective play types across geological intervals from the Upper Eocene to Upper Pliocene eras. These include high-potential structures such as deepwater turbidite channels, fan complexes, large transpressional anticlines, and structural closures. Clear Direct Hydrocarbon Indicators (DHIs), including distinctive bright seismic amplitudes and gas chimneys, confirm the presence of an active hydrocarbon system in the basin.

    To contextualize the resource potential, Grenada’s technical team conducted global analogue benchmarking against 937 producing hydrocarbon fields with matching geological settings around the world. The analysis confirms that individual accumulations in Grenada’s basins could hold up to 3.2 billion barrels of oil equivalent of in-place resources, marking a major potential upside for successful explorers.

    This report was issued via the Office of the Prime Minister of Grenada. NOW Grenada does not take responsibility for the content or opinions shared by contributing authors.

  • Belize’s Sugar Exports Take a Hit as Domestic Exports Fall 37% in July

    Belize’s Sugar Exports Take a Hit as Domestic Exports Fall 37% in July

    New data released by the Statistical Institute of Belize (SIB) on August 27, 2026, confirms a sharp downturn in the Central American nation’s domestic export sector, with overall shipments dropping 37.2% year-over-year in July to land at $38.5 million, down from $61.3 million in July 2025. The slump is overwhelmingly driven by a catastrophic decline in sugar exports, Belize’s flagship agricultural commodity, which has pulled down overall trade performance even as a handful of niche categories and a small number of trading partners buck the negative trend.

    According to the SIB’s breakdown, sugar export earnings fell by $18.8 million compared to July 2025, sliding from $35.8 million to just $17.0 million, as total exported volumes dropped by more than 50%. The downturn extended beyond sugar to other key agricultural exports: citrus export revenues fell by $2.4 million amid weakening global demand for orange concentrate, while molasses earnings almost entirely vanished, plummeting from $2.0 million last July to less than $0.1 million this year. Marine product exports also contracted by $1.3 million, driven by lower lobster tail shipments and a complete halt to shrimp exports that were recorded in the same month a year prior.

    Not all export segments recorded losses, however. Banana export inched up slightly to hit $6.3 million in July, while improved global market prices pushed animal feed revenues up to $0.7 million. The most substantial growth came from formal cattle exports, which jumped $1.6 million year-over-year to reach $2.4 million.

    When broken down by trading partner, the slump hit Belize’s traditional export markets hardest. Earnings from shipments to the United Kingdom collapsed by $18.0 million, falling to just $3.2 million, a decline almost entirely attributed to reduced sugar sales to the European nation. Revenue from exports to the United States also dropped $4.4 million, linked to weaker sugar shipments and a complete lack of molasses exports in July. Earnings from CARICOM trading partners fell $2.1 million amid lower sales of orange concentrate. Mexico was the only major trading partner to record growth, with Belizean export earnings to the country more than doubling to $2.9 million, driven by increased sales of cattle and crude soybean oil.

    On the import side, Belize’s total import value for July came in at $261.3 million, a modest 1.9% decline from $266.3 million in July 2025. The small overall drop was led by a $16.3 million reduction in imports entering Belize’s Commercial Free Zone, caused by lower purchases of cigarettes, athletic footwear, and apparel. There was also a $10.5 million decline in imports of food and live animals, tied to reduced purchases of wheat, instant noodles, and coffee.

    Two key import categories moved against the downward trend: fuel imports rose $11.2 million to $44.8 million, driven by higher global diesel prices and increased domestic purchases of propane and butane. Imports of machinery and transport equipment also climbed $9.0 million, led by incoming shipments of power generators, four-cylinder passenger vehicles, and a heavy-duty all-terrain mobile crane.

    Looking at the cumulative trade data for the first seven months of 2026, the broader trade imbalance remains pronounced. Total merchandise imports hit $1.912 billion over the period, a 15.7% increase year-over-year, with a $104.0 million surge in fuel imports driven by elevated global prices accounting for much of the growth. By contrast, total merchandise exports for the seven-month period totaled just $205.2 million, an 18.6% year-over-year decline. Sugar alone accounts for much of this cumulative drop, with earnings falling by $26.8 million as total export volumes for the year to date have dropped nearly 30%.

    Alongside the trade data, the SIB also noted an unexpected bright spot: recent consumer sentiment surveys show that Belizean citizens are reporting improving outlooks on the national economy despite the ongoing export slump.

  • Why Everything From Ground Beef to Gas Costs More Right Now

    Why Everything From Ground Beef to Gas Costs More Right Now

    New official data published by the Statistical Institute of Belize (SIB) confirms that the country’s overall consumer inflation hit 4.1% year-over-year in July 2026, with steep increases in fuel, housing and food costs accounting for the vast majority of the upward price pressure.

    The national Consumer Price Index (CPI), a key benchmark for tracking broad price changes across the economy, reached 125.3 in July this year, up from 120.4 in the same month of 2025. A breakdown of price shifts across sectors shows that three core categories – transport, housing, water, electricity, gas and other fuels, and food and non-alcoholic beverages – combined to contribute more than 75% of July’s total inflation. Notably, insurance and financial services were the only segments of the consumer basket that recorded no price increase over the 12-month period.

    Of all measured categories, transport saw the sharpest annual acceleration, climbing 12.4% year-over-year, with the entire increase almost exclusively traced to spiking fuel costs. Per-gallon prices for all major fuel grades jumped dramatically: diesel rose the most, adding $2.98 to reach $14.32 per gallon, while premium gasoline increased by $2.33 to hit $15.54 per gallon, and regular gasoline added $1.91 to settle at $13.77 per gallon. Beyond fuel, passenger transport services – including local bus and taxi fares as well as international air travel – also saw a double-digit increase of 15.5% over the year.

    The housing, water, electricity, gas and other fuels category recorded a 3.9% annual increase, driven primarily by higher residential rental rates and new utility tariffs that took effect earlier in 2026. Average monthly bills for households have risen in line with these changes: a typical home using 225 kilowatt-hours of electricity per month now pays $91.50, up from $84.25 a year earlier, while a household consuming 4,500 gallons of water monthly now pays $91.13, compared to $86.38 12 months prior. A 100-pound cylinder of liquefied petroleum gas (LPG), commonly used for residential cooking, has also increased by $7.44 to reach $137.54.

    Food and non-alcoholic beverages recorded a more modest 1.9% annual increase, though key staple products saw much steeper jumps. The overall meat and poultry segment rose 4.6%, with ground beef alone climbing 11.8% to $8.49 per pound. Sugar recorded a 16.4% price increase, rising from $1.02 to $1.26 per pound, while bread and bakery products went up 1.8%, and grapes increased 10.3% to $11.11 per pound. Despite these broad increases, a handful of fresh produce items saw price declines: tomatoes dropped 19.9%, grapefruits fell 24.7%, and limes decreased 9.6% year-over-year.

    Other consumer segments also recorded moderate price gains: health care costs rose 7% amid higher hospital admission and surgical fees, clothing and footwear went up 3.3%, and restaurants and accommodation services increased 3.4% annually.

    Inflation rates also varied significantly across Belize’s municipalities. The San Ignacio/Santa Elena municipal area recorded the country’s highest July inflation rate at 5.3%, with above-average price increases across transport, rent, food, medical services and clothing. In contrast, San Pedro Town recorded the lowest national inflation rate at 3.0%, supported by smaller-than-average increases in taxi and sea transport fares, restaurant services, LPG and medical costs.

    Between June and July 2026, national consumer prices remained largely unchanged, with a marginal overall decrease of 0.02% that signals short-term price stability after months of steady increases. A 0.3% month-over-month rise in food costs, driven by higher prices for fresh vegetables and meat, was fully offset by a 0.5% drop in transport costs, which followed a $1.01 per gallon reduction in diesel prices during July.

    Looking at the full-year trend through the first seven months of 2026, Belize’s cumulative year-to-date inflation stands at 2.7% compared to the same period in 2025. As with the July data, the same three core categories of transport, food and non-alcoholic beverages, and housing-related utilities contribute nearly three-quarters of the total cumulative price increase so far this year.

  • SIB: Belizeans Are Feeling Better About the Economy

    SIB: Belizeans Are Feeling Better About the Economy

    In a surprising shift after months of stagnation, Belize’s consumer sentiment has recorded its first monthly uptick of 2026, new official data shows. The Statistical Institute of Belize (SIB) announced on August 27 that the national Consumer Confidence Index (CCI) rose 3.6 percentage points from June’s reading of 41.1 to hit 42.6 in July.

    The modest overall improvement masks broad-based gains across all three core metrics that make up the benchmark index. The largest jump was seen in the Present Conditions component, which measures public perception of current economic circumstances relative to 12 months prior. This metric climbed 7.1 points to reach 40.2, up from June’s 37.6. Sentiment around big-ticket durable goods purchases, the second index component, rose 3.3 points to settle at 35.5 from 34.4. The Expectations component, which tracks consumer outlooks for future economic performance, posted the smallest gain, inching up 1.2 points from 51.4 to 52.0.

    While the national trend is positive, the uptick in confidence is far from uniform across the country’s districts, demographic groups, and regions. Orange Walk District notched the most dramatic increase, with overall consumer confidence surging 12.6 percentage points. That gain was fueled by an extraordinary 45.6 percent jump in consumer willingness to commit to major household purchases. By contrast, Stann Creek District recorded the nation’s sharpest decline, with overall confidence falling 10.7 percent. The drop there was driven by a 19.2 percent plummet in future expectations, as local residents grew markedly more pessimistic about long-term economic trajectories.

    A similar divide separates urban and rural consumer sentiment across Belize. Urban consumers saw their overall confidence climb 6.5 percent, led by a 16.9 percent surge in durable goods sentiment. More urban residents reported growing openness to purchasing big-ticket items including consumer electronics, home furniture, and personal vehicles. Rural confidence saw only a modest 1.4 percent uptick, driven entirely by improved views of current economic conditions rather than future spending plans. Notably, rural sentiment toward durable goods purchases actually fell 6.1 percent over the month.

    Demographic breakdowns by age also reveal sharp divergences in sentiment. Adults between the ages of 25 and 34 recorded the largest confidence gain of any age group, with an overall 10 percent increase that included improvements across all three index components. On the opposite end of the spectrum, younger consumers aged 18 to 24 posted the steepest overall confidence decline of any cohort. That drop stemmed from a 21.6 percent fall in durable goods sentiment, paired with weakening views of both current economic conditions and future job and income prospects.

    Ethnic breakdowns also show conflicting trends: Creole respondents recorded a 10.8 percent overall improvement in confidence, powered by a 22.6 percent jump in willingness to make major purchases. Garifuna respondents reported the opposite trend, with overall confidence falling 10.7 percent amid growing pessimism about both current economic circumstances and future big-ticket spending.

    Even by gender, gaps in confidence growth are visible. Overall confidence among male consumers rose 2.4 percent, while female consumers saw a stronger 4.8 percent increase. Women’s gains were driven primarily by improving perceptions of current domestic economic conditions.

    For context, the SIB’s CCI is a monthly benchmark that ranges from 0 to 100, with readings above 50 generally indicating that consumers hold overall optimistic views about the economy. The institute notes that the index serves as an important leading indicator for broader national economic performance, since consumer spending accounts for a large share of Belize’s total economic output. Changes in consumer confidence typically signal upcoming shifts in household spending, saving, and investment patterns that shape overall economic growth in subsequent quarters.

  • Tourism Ministry launches “Tourism Close to You” program in Puerto Plata

    Tourism Ministry launches “Tourism Close to You” program in Puerto Plata

    The Dominican Republic’s tourism sector has taken a major step toward inclusive, community-focused growth with the official launch of the national initiative “Tourism Close to You”, unveiled by Tourism Minister David Collado in the coastal province of Puerto Plata. The groundbreaking program is designed to unify a broad cross-section of tourism stakeholders — from local communities and small business owners to national authorities and industry operators — to collectively elevate four core pillars of Dominican tourism: destination safety, environmental and cultural sustainability, service quality, and coordinated organizational planning.

    At the launch event, Minister Collado centered his remarks on the program’s foundational principle: that tourism development must be “with the people and for the people”. He stressed that local communities and frontline tourism workers are the backbone of the country’s world-class tourism experience, noting that every memorable visitor experience is rooted in the work of local families, neighborhood residents, and daily industry employees. In line with this community-centered approach, Collado emphasized the Ministry of Tourism’s ongoing commitment to proactive listening and collaborative decision-making with all sectors that contribute to the country’s tourism economy.

    Minister Collado also addressed a key factor in global tourism competitiveness: national security. Drawing on 2024 data from the Inter-American Security Observatory, an agency under the Organization of American States (OAS), he confirmed that the Dominican Republic ranks among the safest major tourist destinations in the Latin American and Caribbean region — a standing that positions the country for continued inbound visitor growth.

    In Puerto Plata, the first region to roll out the program, “Tourism Close to You” has brought together every segment of the local tourism value chain. Participants include municipal and provincial authorities, local business associations, regional tourism boards, hotel groups, independent restaurants, ground transportation providers, tour operators, certified tourist guides, local artisans, airport and port management teams, public health service providers, and grassroots community organizations.

    The entire initiative is structured around three clear, actionable core pillars that guide all programming and investment.

    The first pillar focuses on sustainability and proactive destination management. Work under this umbrella includes long-term strategic planning for tourism growth, responsible land-use management to prevent overdevelopment, improved visitor signage throughout popular destinations, and targeted protection of the country’s unique natural ecosystems and cultural heritage sites.

    The second pillar centers on enhancing tourist security. This includes expanding and improving visitor assistance services for domestic and international travelers, strengthening protections for children and adolescents who interact with the tourism sector, and upgrading on-the-ground surveillance and regulatory oversight in high-traffic tourist areas.

    The third and final pillar covers comprehensive tourism regulation. This involves updating outdated industry rules to match modern tourism needs, ongoing supervision of tourism services to ensure consistent quality, and strict enforcement of national service and safety standards across all industry segments.

    Looking ahead, the Ministry of Tourism outlines a clear long-term vision for the initiative: to ensure that the Dominican tourism industry’s continued expansion delivers tangible, widespread benefits across all levels of society. Rather than concentrating growth in the hands of a small group of stakeholders, the program aims to turn industry growth into greater economic opportunity for local residents, improved community well-being, and higher overall quality of life for Dominican people living in tourism-dependent regions. Ultimately, the initiative seeks to build a national tourism ecosystem that is safer, more sustainable, better organized, more inclusive of local communities, and more competitive in the global travel market.

  • FEDA promotes agritourism to diversify tourism in the Dominican Republic

    FEDA promotes agritourism to diversify tourism in the Dominican Republic

    As the Dominican Republic’s tourism sector continues on an upward growth trajectory, the country’s Special Fund for Agricultural Development (FEDA) is rolling out a bold new strategy to leverage this momentum: expanding agritourism to diversify the nation’s tourism portfolio, empower rural communities, and elevate Dominican agricultural products to the global marketplace.

    FEDA’s Executive Director Hecmilio Arístides Galván Cruz made the case for this new approach during the recent DominiCoco 2026 event, arguing that the country’s natural agricultural wealth positions it to draw visitors beyond the iconic coastal beach destinations that have long defined its tourism industry. “Agritourism is just beginning,” Galván noted, pointing to the untapped potential of working farms and small rural towns to evolve into unique, immersive tourist attractions while creating new channels to promote the country’s flagship agricultural exports, including cocoa, coffee, bananas, pineapples, avocados, and tobacco, to international buyers.

    The agritourism push is being formalized through the *National Program for the Promotion of Agritourism “Sow Progress,”* which launched in January 2026 in Yaguate, San Cristóbal. This comprehensive initiative includes a range of programming designed to connect visitors and producers: it opens working farms to guided tours, develops scenic agricultural hiking trails, offers farm-to-table gastronomic experiences, builds direct local product marketing channels, and provides critical training for small-scale producers in hospitality services, quality control, and value-added production techniques.

    Several landmark projects are already underway as part of the strategy. In the northern border province of Dajabón, the Tilamiches Fishermen’s Ecotourism Restaurant has launched a hybrid model that integrates sustainable tilapia aquaculture, local culinary experiences, and cross-border tourism to draw visitors from neighboring Haiti and other international regions. Further south in Cambita Garabitos, FEDA has broken ground on the Agroecological Avocado Park, a RD$194 million development project that is projected to deliver direct economic benefits to more than 2,200 local avocado producers once completed.

    Beyond agritourism, Galván highlighted FEDA’s broader portfolio of support for the Dominican agricultural sector, which includes nearly 40 targeted programs and incentives tailored to the needs of different agricultural regions and commodity sectors. These initiatives range from dedicated production support for cocoa, coconut, coffee, and avocado growers, to educational school garden projects, and targeted resources for rural women and young agricultural entrepreneurs.

    Additional programs expand support to non-traditional agricultural settings: they encourage small-scale family farming in residential areas, bring agricultural training and work opportunities to incarcerated individuals in penitentiary centers, and drive economic development in isolated communities across the country’s remote mountain ranges and the protected Sierra de Bahoruco region.

    One notable domestic-focused initiative, the “Consume Our Own” program, works to boost domestic demand for locally grown food and encourage Dominican restaurants and culinary professionals to prioritize native agricultural products in their menus. Galván emphasized that expanding and diversifying the ways Dominican agricultural products are consumed and marketed is foundational to building a stronger, more resilient agricultural sector. Combining growing domestic demand with expanded agritourism opportunities and traditional export channels, he argued, will unlock sustainable new economic opportunities for the country’s farmers and the rural communities that form the backbone of Dominican agriculture.

  • Puerto Plata launches plan to become a more accessible tourism destination

    Puerto Plata launches plan to become a more accessible tourism destination

    A transformative step toward inclusive tourism is taking root in Puerto Plata, after three key stakeholders joined forces to sign the landmark “Puerto Plata, Accessible Destination” agreement, backed by the region’s municipal government. The partnership brings together the Puerto Plata Destination Tourism Cluster, travel accessibility specialist Travegali, and the Dominican Republic’s Ministry of Tourism to build a fully integrated accessibility framework that opens the region’s attractions to travelers who have long been overlooked by mainstream tourism.

    Helmed by Dominican Republic Tourism Minister David Collado, the ambitious initiative sets a clear strategic goal: to position Puerto Plata as the second fully accessible tourist destination in the country. Unlike piecemeal accessibility adjustments that many destinations adopt, this project centers on delivering a seamless, dignified travel experience for people with disabilities, senior travelers, and all other visitors who require accessible facilities and services. At its core, the framework prioritizes three core outcomes for these travelers: greater safety, autonomy, and dignity when exploring all that Puerto Plata has to offer.

    Rafael Blanco, President of Travegali, outlined the phased rollout plan that will guide the project’s implementation. Work will kick off with a comprehensive, destination-wide audit to map current accessibility gaps across all public and private tourism sites. Following the assessment, the partnership will develop a structured, time-bound roadmap to incrementally upgrade infrastructure and update service standards across the region.

    Beyond physical infrastructure improvements, the initiative encompasses three additional critical pillars: workforce training for local tourism employees, upgrades to communication tools and digital travel platforms to better serve accessible travel needs, and a targeted international marketing push to connect Puerto Plata with the fast-growing global accessible tourism market. Industry data shows accessible travel is one of the fastest expanding segments of the global tourism industry, with unmet demand across most Caribbean destinations.

    As upgrades progress, the project will progressively include every segment of Puerto Plata’s tourism ecosystem. That ranges from private hotels, restaurants, tour operators, retail shops, and tour companies, to public assets including national parks, museums, public beaches, transportation networks, the regional port, and the local airport. Public sector institutions and local community organizations will also play active roles in shaping and rolling out the changes, ensuring the framework meets the actual needs of both travelers and local communities.

    The signing ceremony brought together a full cross-section of stakeholders invested in Puerto Plata’s long-term tourism growth, including national tourism authorities, local municipal leaders, private sector business representatives, and civil society organizations focused on disability rights and inclusive development. The gathering signals broad buy-in for the project, which is expected to not only expand access but also drive new economic growth for the region by tapping into an underserved global travel market.

  • Fuel Prices in the Dominican Republic remain unchanged for the week of August 29

    Fuel Prices in the Dominican Republic remain unchanged for the week of August 29

    SANTO DOMINGO – In a targeted move to shield working families and preserve economic momentum amid volatile global energy markets, the Dominican government has announced it will hold fuel and gas prices steady for the seven-day period running from August 29 through September 4. The freeze applies to all major retail energy products, including premium and regular grade gasoline, both standard and high-performance diesel, liquefied petroleum gas (LPG), and residential and commercial natural gas.

    This price stabilization effort is not a one-off adjustment, but a core component of the administration’s long-running Anti-Crisis Plan, a strategic policy framework crafted to guard the nation’s economic stability and prevent rising global energy costs from eroding the purchasing power of low- and middle-income households that are most sensitive to price swings.

    To make the frozen price structure possible, the Dominican state is covering the gap between current global wholesale energy costs and the capped retail prices charged to consumers. Under the freeze, LPG will remain locked in at RD$135.20 per gallon, holding steady for consumers who rely on the fuel for cooking and home heating across the country.

    For this specific weekly pricing period, the government has earmarked a total of RD$1,209.1 million in targeted fuel subsidies to absorb international market price hikes that would otherwise be passed directly to motorists, businesses, and households. The substantial public investment translates to direct savings of up to RD$95.65 per gallon for local drivers and domestic industrial operators, keeping transportation costs and operational overhead lower than they would be without government intervention.

  • New fish processing facility set to boost fishing industry in Soufriere-Scotts Head area

    New fish processing facility set to boost fishing industry in Soufriere-Scotts Head area

    Dominica’s coastal communities of Soufriere and Scotts Head, long renowned for their deep-rooted fishing heritage, are set to gain a transformative new economic infrastructure project: a purpose-built village fish processing facility. The announcement was made by Senator Oscar George, Minister of State in the Ministry of Community Development, during a recent community Town Hall Meeting held in Scotts Head.

    As a constituency deeply dependent on artisanal fishing as a core source of household income, the region has long lacked dedicated local infrastructure to add value to catch before it reaches market. Addressing gathered residents, George emphasized that the government’s central goal for the initiative is to expand sustainable livelihood opportunities for local fishing households. Jointly financed by the Caribbean Development Bank’s Basic Needs Trust Fund (BNTF) and the Government of Dominica, the project carries a total budget of $2 million.

    Once completed, the facility will be outfitted with specialized equipment to support multiple fish preparation and preservation methods, including smoking, drying, and flash freezing. These capabilities will eliminate the need for fishermen to transport unprocessed catch long distances for handling, reducing post-harvest waste and allowing producers to command higher prices for their products. Beyond direct benefits to working fishermen, George noted that the new plant will also open up new income streams for local fish vendors, who will gain access to a consistent supply of value-added processed fish products for local and regional markets.

    The project is currently moving through its pre-construction phase, with authorities in the process of accepting tenders for a consulting firm to finalize facility blueprints and kick off construction work. George stressed that stakeholders across the local fishing industry should begin preparing to take full advantage of the new opportunities the plant will create, with operations projected to launch in the coming new year. Describing the initiative as a long-overdue investment for southern Dominica, George confirmed that the facility is expected to deliver widespread, lasting economic benefits for the entire region.

  • Antigua and Barbuda Tour Operators to Pay 17% ABST from September 2026

    Antigua and Barbuda Tour Operators to Pay 17% ABST from September 2026

    A new regulatory change to the Antigua and Barbuda Sales Tax (ABST) system is set to reshape operations for the nation’s tour operating sector, with a phased implementation timeline kicking off on September 1, 2026. The policy change, which was formally approved by the country’s Cabinet during a session held on May 30, 2024, was first announced to industry stakeholders via an official circular from the Inland Revenue Department (IRD) dated June 27, 2024.

    Under the updated rules, the core requirement mandates that all qualifying tour operators apply a 17% ABST rate to their customer bookings moving forward. The policy includes clear eligibility thresholds to reduce the burden on smaller businesses: only tour operators that generate annual revenue of $300,000 or more are required to complete tax registration and apply the new 17% rate. A specific exemption also remains in place for local transportation services, defined as point-to-point transit within the country, which will not be subject to ABST.

    The IRD, which retains full administrative responsibility for the ABST system, has outlined clear procedural rules to guide operators through the transition. All new bookings confirmed on or after September 1, 2026, must include the 17% tax charge. For tax filing starting in September 2026, operators are required to submit their declarations using the standard ABST03 form, which is designed to accommodate input tax claims. Importantly, only input tax expenses incurred on or after the implementation date can be claimed under the new system.

    Two additional key adjustments to accounting practices have also been confirmed: from September 1, 2026 onward, tour operators will no longer treat ABST as an expense on their income statements. All currency conversions for tax calculation purposes will continue to follow the standard exchange rate framework already established under existing ABST regulations.

    To support a smooth transition, the IRD confirmed it will continue ongoing outreach and engagement with all tour operating businesses across the country. The department’s priority is to ensure that all eligible operators complete required registration, understand their new filing obligations, and can adjust their operational and accounting practices to meet the updated regulatory requirements ahead of the 2026 implementation date.