Antigua and Barbuda Set to Become an Investment Hub for Middle East Investors

The twin-island nation of Antigua and Barbuda is a classic example of a Caribbean island – sunny, bright, covered with sparkling white sand and shimmering water. With a penchant for the lush and the plush, the sun soaked twin-islands have long attracted tourists making it a popular destination for the affluent, hailing from the US, Canada, Asia and, more recently, the Middle East, with tourism generating approximately 80% of the nation income.

Vast opportunities for business and tourism await investors in the MENA region as the nation is witnessing a swathe of new investments in the tourism sector. With projects worth US$1 billion due to take form in the coming years, the nation is encouraging investments from all over the world.

Antigua and Barbuda’s long-term political and economic stability will see the nation witness a significant boost in investment and travel from the Middle East. Famed as the ‘Land of 365 Beaches’, the Caribbean paradise is a well-managed business hub with its low-tax structure, offering investment free from personal income tax, capital gains tax, inheritance tax and wealth tax. In addition, the government provides strong economic incentives for foreign investment and is positioning the country for further growth by targeting emerging markets and diversifying its economy.

Commenting on the sidelines of the upcoming event, His Excellency E. Casroy James, said,

“The potential benefits to Antigua and Barbuda stemming from this event are numerous. This conference serves as a great opportunity to raise the country’s profile and awareness to the MENA community, increase tourism traffic, attract foreign direct investment, and promote the country’s overall business climate.”

“Antigua and Barbuda will open a new world to individuals who seek luxury, beauty, unexpected opportunities and unique experiences in an exceptional destination. Investors can rest assured that they will have the government’s support, incentives and concessions to start their business seamlessly. As a law abiding nation, we will ensure that the money invested by the investors is well protected,” added His Excellency.

Speaking further, His Excellency E.Casroy James, Ambassador to the UAE said,

“The twin-island nation of Antigua and Barbuda has been a popular tourist destination because of its beaches, easy life and friendly islanders. Tourists have been the lifeblood of our economy. With projects worth US$1 billion scaling up from planning and designing, the nation is witnessing a surge in the number of tourism projects. While these will improve the nation’s position on the global map, it will also enhance the quality of tourism industry in Antigua & Barbuda.”

The nation also welcomes flights from varied airlines and tour operators around the world. The country has already seen a significant increase of investment from the Middle East, including a recent MOU for US$120 million towards a luxury resort in the south of the island. Spread across 32 acres of beachfront, the new resort, Callaloo Cay, will enthrall the best of class, beauty and extravagance, and is expected to be a one-of-a-kind resort in the Caribbean.

“Since the 1800, people from the Caribbean and the Middle East have been associated with each other. The recent plans to open to the Antigua and Barbuda Embassy in Abu Dhabi soon – the first Caribbean full embassy in the UAE, will further enhance the old connexion between the two regions. We are confident that this new association will open up improved avenues for investors and locals alike,” concluded His Excellency James on a closing note.

In a bid to showcase the country’s tourism potential to the MENA community, an invitation only conference will take place from 8th-9th October in Dubai. The event, led by Antigua and Barbuda’s Prime Minister Hon. Gaston Browne, and several other prominent officials from the public and private sector, is expected to attract substantial interest from MENA business communities.

About Antigua and Barbuda

The twin island nation of Antigua and Barbuda is the heart of the Caribbean where the beach signals only a beginning and where investment prospects and adventurous diversions await you. The island is endowed with rich and diverse cultural, culinary, sports and recreational features. The nation encourages enterprise creation and development, providing entrepreneurs with tools to build the foundations for sustainable foreign direct investment.

About the Exposition Conference

Antigua and Barbuda will showcase its investment potential to the UAE through an elite exposition-style conference that will take place from 8th-9th October at Dubai’s Palazzo Versace Hotel. The event will feature high calibre speakers presenting salient aspects of the twin islands in a formal on-stage setting while also providing opportunities to respond to individual queries via a panel discussion and scheduled one-on-one meetings.

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