Barbados 2 – Beautiful, Business-Friendly and Right Next Door
Fabulous white-sand beaches and the azure Caribbean
Exceptional quality of life
Stable, business-friendly government
Sophisticated financial services
Outstanding investment opportunities
A wealth of tourism attractions
And all just a 4 ½-hour flight from New York
Barbados – beautiful, business-friendly and easily reached from the United States – has one of the highest standards of living in the developing world. The island is also the wealthiest and most advanced country in the Eastern Caribbean and enjoys one of the highest per capita incomes in Latin America. It is also ranked number 1 in the Caribbean and number 3 in the Americas in ICT development.
Barbados offers a sunny, warm climate year-round; miles of gorgeous white-sand beaches; a treasure trove of historic landmarks; friendly English-speaking people guaranteed to greet visitors with a smile; great food; and all kinds of activities year-round, from concerts and festivals to sports events and adventure tourism.
Sunshine, gorgeous beaches and high quality of life, all in one island? No wonder residents of Barbados are known as “the official ambassadors of how to live life.”
Barbados has the third-oldest parliament in the world, with uninterrupted parliamentary governance since 1639. Independent from Britain since 1966, Barbados remains a member of the British Commonwealth and has a long history of political, social and economic stability.
Once known mainly for its sugarcane plantations, Barbados long ago developed a diversified, modern economy based on services and light industry. Today, around four-fifths of the country’s GDP is generated by services, particularly tourism and offshore finance.
Barbados also has a thriving construction sector as well as reserves of oil and natural gas and other sectors with strong investment appeal.
The island’s financial sector, both onshore and offshore, benefits from high international standards, skilled English-speaking workers, and Barbados’s location in the same time zone as the eastern US.
While the island’s economy, closely linked to the US, is currently under strain, the government recently announced it was not considering devaluing the local currency, the Barbados dollar, which has been set at half the value of the US dollar since 1973. In its most recent assessment of the island’s financial sector, the IMF praised the Barbados banking system for its liquidity and strong capitalization.
Thanks to its exceptional stability, this idyllic island has the fundamentals in place to prosper for years to come.