The Hon. Mia Amor Mottley Q.C. , M.P. Prime Minister of Barbados
Thank you for accepting my invitation for you to be a partner in our development.
We are pleased to extend to you the Barbadian warmth of old friends and to showcase this exciting investment opportunity.
At the center of our redevelopment project is Carlisle Bay: the crescent bay in front of a historic capital city that is unique in the region and beyond. The white sandy beach with clear blue sea is one of the most beautiful.
This prime spot has largely been a local secret and not part of our tourism offering, fronted as it currently is by empty lots, warehouses and car parks.
We have worked with local and external experts to outline a beautiful mix of hotels, restaurants and promenades that will completely transform the area and Bridgetown with approximately 12 new hotels and 5 sites for significant expansions.
My Government has been busy over the past year and a half. We have overhauled our tax system so that we now have the lowest OECD-compliant corporation taxes in the world and low personal tax rates. Our fiscal incentives regime is also being overhauled and we will switch to a system of rapid approvals with firm verification.
We have overhauled our 54-year old Town and Country Planning Act and replaced it with a new Planning and Development Act with a presumption in favour of development, which emphasizes speed and predictability. We further make a commitment that any applications not initially approved are responded to with recommendations that would secure approval. In rethinking planning, we have adjusted our previous height restrictions to both maximise economic return and preserve windows to the sea.
Given their location and perspective, this is the approach we have adopted for some of the sites I am showing you and they already have outline planning approval for these new configurations.
Our traditional attractions remain. Barbados is still the most sophisticated destination in the Caribbean with some of the highest average daily spends, ranking for quality and number of repeat visitors in the world. We have strong airlift with 1.35 million passengers annually, and many daily direct flights from the US, UK, Canada, Germany and Panama. What these numbers do not tell you is the reason why our visitors keep on coming back. High investment in public education, health and communities means that visitors have a unique, safe, relaxed yet sophisticated experience.
The developments we are showing you present a historic opportunity to join us as we transform and modernize Barbados while maintaining those things that make it special. I am excited to work with you on these new opportunities and look forward to you reaching out to our CEO of the Barbados Tourism Investment Inc., Mr. Stuart Layne if you have any queries or have any interest in any one of these sites.