Home' Trinidad and Tobago Guardian : February 13th 2014 Contents BG8 | NEWS
BUSINESS GUARDIAN www.guardian.co.tt FEBRUARY 2014 • WEEK TWO
Arrivals to Barbados from T&T have declined,
according to projected figures from the Central
Bank of Barbados for 2013 year on year.
"Long-stay" arrivals from T&T fell from 35,446 in 2012 to
29,622 in 2013, the Central Bank reported in its "Analysis of
Barbados Current Economic Performance" release of January
Quoting figures from the Barbados Statistical Service, the
Central Bank said: "Strategies for the growth of tourism include
improving the visitor experience through sports, cultural, and
environmental activities. Barbados already has excellent golf,
polo, yachting and motor sport facilities and arrangements,
and they are being extended and upgraded.
"Crop Over has been a major success for cultural tourism,
and the development of activities surrounding the Historic
Bridgetown and Garrison World Heritage site and elsewhere,
all increase Barbados potential appeal to visitors."
While in Port-of-Spain on January 22, Donville Inniss, Bar-
bados Minister of Industry, International Business, Commerce
and Small Business Development, invited the T&T private
sector to invest in Barbados cultural tourism.
Speaking at the T&T Chamber of Industry and Commerce
in Westmoorings, he called on T&T nationals to visit Barbados,
especially now, when deals abound amidst that country s eco-
"At the outset of 2013, Barbados tourism prices and the
prices of its other internationally traded goods and services
were lower than they were in 2008, relative to the prices of
our Caribbean competitors," the Central Bank said.
"However, although Barbados has remained competitive on
price, there has been some decline in our share of the Caribbean
market. Therefore, initiatives to promote investment, increase
productivity, improve the quality of the product, and to enrich
the tourist experience, are the focus of the tourism development
strategy," it said.
T&T is the only country that figures among Barbados major
markets. T&T is topped by the US, Canada, Germany, and
Categories called "other Caricom" and "other countries"
are below T&T.
The Central Bank said "compared with previous economic
downturns, the Barbados economy has performed appreciably
better during the current economic recession."
Between 2008 - when the current crisis hit - and 2013, the
economy contracted by 3 per cent in total, the bank said. In
the 1981-82 recession, the decline was 7 per cent, and in 1990-
93, it was as much as 14 per cent, the bank said.
"What is more, the current weakness in the international
economy, and the poor performances of countries where Bar-
bados earns foreign exchange, are without precedent since
World War II. Barbados has mitigated the impact of the global
recession on output and employment because of the country s
competitive strengths in the international market, and because
fiscal policy has been used effectively to sustain foreign exchange
reserves and protect the value of the Barbados dollar in terms
of US dollars," the bank said.
While here, Inniss reaffirmed his country s commitment to
the US$1 to B$2 peg.
Barbados ranks highest among Caribbean countries in the
2013-14 Global Competitiveness Report, at number 47 in the
world, the bank said. Barbados outperforms Caribbean and
Latin American countries in terms of its infrastructure, insti-
tutions, health, education, labour market efficiency, financial
market development and technological readiness. It is on par
with its peers with respect to goods market efficiency, business
sophistication and innovation, the bank said.
On the topic of growth of Barbados gross domestic product
(GDP), the regulator said: "The resilience of the Barbados
economy to date, and the expected recovery in GDP growth,
are driven by private investment that improves the quality of
Barbados internationally traded services, renews our products,
and extends our product offerings. A slump in private foreign
investment inflows was the major reason behind the decline
in foreign exchange reserves in 2013."
Reserves declined by B$301 million, and net foreign capital
inflows were B$188 million lower, at about B$499 million, the
bank said. As at December 31, Barbados foreign exchange
reserves were the equivalent of 15 weeks of imports of goods
Hot on the heels of the spectacular launch of Sandals
LaSource in Grenada, Sandals Resorts International has
announced Sandals Barbados is set to temporarily close its
doors to undergo a similarly exciting enhancement program.
Starting on April 1, the wide-ranging renovations will include
the introduction of seven new gourmet restaurants bringing
the total to ten, total refurbishment of the resort s 280 existing
rooms. There are also numerous other additions and enhance-
ments that will offer Sandals guests new heightened levels of
their Luxury Included experience in line with Barbados rep-
utation as one of the region s most sought after destinations.
Sandals Resorts chairman Gordon Butch Stewart com-
mented: "When we acquired this property in August, we knew
we were buying great potential; here was a lovely resort that
could be transformed into something truly magical.
"The time has now come for the Sandalisation to start
and drive forward into what is an exciting future for Sandals
and Barbados as a destination. We cannot wait to reopen."
No stone has been left unturned. Every aspect of the resort
is set to undergo major enhancement, including all of the
resort s public areas, such the hotel s lobby.
As well as the addition of an exclusive Club Sandals lounge,
departure lounge and an expanded Red Lane Spa, the new-
look resort will feature an exclusively-designed wedding garden,
Sandals Signature swim up pool bar, fire pits and magnificent
The resort will also launch a new attraction programme
expected to see more and more guests venture out to experience
Barbados as a destination.
Foodies will be thrilled too with the launch of Sandals
highly-acclaimed Discovery Dining programme that will now
include new restaurant concepts such as Butch s Chophouse,
French-style patisserie Café de Paris, Soy Japanese sushi and
Sandals first ever Indian restaurant.
Additionally, newly-installed kitchens will help to deliver
the highest level of Sandals service ever seen.
Two brand new tennis courts, eight new lifts, state-of-the-
art Wi-Fi capabilities and brand new back-of-house facilities
that will see the introduction of Sandals English Guild-trained
butlers to Barbados for the first time, will complete the magic.
"The launch of Sandals LaSource in Grenada has been one
of the finest in the history of our company, not just in terms
of the response from the international marketplace, but what
we ve managed to physically create there.
"The creativity and innovation of its design alone are exhil-
arating - it is a truly remarkable resort. It has only been open
for six weeks, but we are now starting to see the true quality
"We now intend to create that kind of magic here in Bar-
bados," Stewart said.
Guests can relocate their existing booking to any of the
other Sandals Resorts and Grand Pineapple Beach Resorts in
St Lucia, Antigua, Jamaica or the Bahamas, excluding Sandals
Emerald Bay, Sandals Royal Plantation and Sandals LaSource
Grenada, including any associated airfare change fees, subject
to availability. (Caribbean News Digital)
T&T arrivals to Barbados
Sandals Barbados to begin
redevelopment in April
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