Grenada is one of the most open economies in the world. The country’s relative underdevelopment offers a wide range of opportunities that are not available in competitor countries. A vast range of sites is still available for the development of hotels and tourist facilities. In addition, Grenada can provide one of the most diversified tourism offerings in the Caribbean with its untapped natural resources: rain forests, crater lakes, waterfalls, white sand beaches, exotic underwater life, diversified flora and fauna.
Quality of Life
Grenada has one of the most pristine physical environments in the Caribbean and offers investors, tourists, migrant workers and overseas students a high quality of life, low crime, and a relatively un-spoilt natural environment. The physical beauty of the country is complemented by its rich history, and vibrant living cultural heritage. Residents are famous for their friendly and hospitable nature.
Highly Diversified economy:
- GDP (2013) US$830 million,
- Per Capita Income (2013) – US$7,460
- Exports (FOB Value) (2013) – US$ mil 36,252,787
- Imports (CIF Value) (2013) – US$ mil 292,736,561
- Exchange Rate – US$1 – EC$2.70.
- Labour A relatively young English speaking workforce and high levels of adult literacy (96%)
Electricity prices compare favorably to the regional average. The cost of broadband services for businesses has been falling. Tax rates on labour are low by regional and world standards. Minimum wage is competitive with other countries in the region. The Maurice Bishop International Airport (MBIA) is the main airport. The runways have a length of 2745 meters and 45 meters wide, with an elevation of 12 meters situated within reference point. A small airport Lauriston Airport is located in Carriacou. The Grenada Cruise ship terminal was constructed in 2003 and is equipped to handle simultaneously four (4) small cruise ships or two (2) mega ships and one (1) medium size. The jetty is 375 meters jetty with the North Berth of a depth of 9.8 metres depth and the South 10.5 metres.
Public transportation is available from 6:00 am to 8:00 pm. Taxi services and vehicle rental agencies are also available. The country has a 1,040-kilometre road web. Approximately 60 per cent are paved.
Trade & Investment Opportunities
- Tourism & Hospitality – Boutique Hotels, Yachting, Diving, Eco Tourism
- Health and Wellness (new) – Day Spas, Natural preparations, Assisted Living Facilities, Treatment/Rehabilitation centers
- ICT (new) – Call Centers/Business process outsourcing; medical billing and coding, Software development, Mobile Device Applications, Animation, Software Development
- Agri-business (new) – Organic Farming, Herb and Spice production, GAP Farming, Food products for Wellness Services, Value Added Processing
- Alternative Energy (new) – Geothermal, Solar, Wind, Hydro