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In Curaçao, Promoting Caribbean Internet Development

Major Caribbean Oil Refinery to Reopen

A major Caribbean oil refinery is set to reopen. CITGO Aruba and the Aruban government have executed a commercial agreement that will reopen one of the Caribbean’s largest oil refineries in San Nicolas, Aruba. The signing ceremony for the agreement …

Antigua and Barbuda Is Abolishing Its Personal Income Tax

Another Caribbean island will soon be without a personal income tax. Antigua and Barbuda will be abolishing its personal income tax beginning in April, the government announced this week. The personal income tax, which had been introduced in 2004, had …

A New Spotlight on Caribbean Hotel Investment Opportunities

By Dana Niland CJ Contributor The Caribbean Tourism Organization (CTO) and the Caribbean Hotel and Tourism Association (CHTA) are launching the first Caribbean Tourism and Hospitality Investment Guide targeted at international investors. The publication exhibits a wide range of investment …

How Much Money Does the Cruise Industry Contribute to the Caribbean Economy?

Quantifying the impact of cruise tourism By the Caribbean Journal staff How much does cruise tourism impact the Caribbean economy? Something in the amount of $3.16 billion, according to Business Research and Economic Advisors, which launched its analysis of spending …

How Internet Exchange Points Can Boost the Caribbean Economy

By Dana Niland CJ Contributor Caribbean nations must strengthen their Internet infrastructure in order to take full advantage of the global digital economy. This was the message was expressed by Mark Vanterpool, Vice President of Caribbean Telecommunications Union (CTU), at …

The US Virgin Islands Is Suing Hess for $1.5 Billion

A major lawsuit By the Caribbean Journal staff The US Virgin Islands government is suing the Hess Corporation for shuttering the HOVENSA refinery in 2012, Governor Kenneth Mapp announced Monday. According to a complaint filed in Superior Court, the USVI is …

How Colombia’s Agribusiness Sector Is Driving Economic Growth

A major force in the region By the Caribbean Journal staff Colombia’s agribusiness sector is playing a key role in the growth of the country’s economy. With $192 million in exports to over 127 countries, the industry generates about 6.2 …

Tourism Driving Stronger GDP Growth in Grenada

IMF says GDP growth quickening By the Caribbean Journal staff Grenada’s economy is on the rise. The country’s GDP growth forecast has been revised upward significantly by the IMF, following the organization’s latest visit to the country. While Grenada had …

Jamaica’s Growth Outlook Is Improving

Positive signs for Jamaican economy By the Caribbean Journal staff Jamaica’s economy is showing some positive signs, according to the International Monetary Fund, which recently concluded a mission to the country. “A gradual economic recovery is underway.” said IMF Mission …

A $200 Million Expansion Project at This Caribbean Port

The port of Cartagena By the Caribbean Journal staff One of the region’s busiest ports is getting an upgrade. APM Terminals and Colombian-based port and terminal operating company, Compañia de Puertos Asociados S.A (Compas) have signed a joint venture agreement to jointly …

Jamaica Getting $130 Million Loan to Help Stimulate Economic Growth

A major financing program By the Caribbean Journal staff Jamaica is getting a $130 million loan from the Inter-American Development Bank, the organization announced. The loan aims to strengthen Jamaica’s structural program for economic growth. “The Jamaican government has been …

This is the Caribbean’s Fastest-Growing Economy in 2015

Significant growth in 2015 By the Caribbean Journal staff When the government of Prime Minister Gaston Browne came to power in June 2014, there was one overriding goal: to make Antigua and Barbuda and economic power house. So far in …

Barbados Economy Showing Growth

After two slow years, signs of life By Dana Niland CJ contributor The International Monetary Fund (IMF) is projecting positive GDP growth for Barbados this year as a result of increased tourism arrivals and accelerated growth in key markets. After …

This is the Caribbean’s Most Competitive Tourism Economy

Above: Barbados (CJ Photo) By the Caribbean Journal staff What’s the most competitive tourism economy in the Caribbean? It’s Barbados, according to the latest edition of the World Economic Forum’s Travel and Tourism Competitiveness report. The report, which covers 141 …

Aruba Tourism Is Booming

Above: Aruba By the Caribbean Journal staff Tourism to Aruba is booming so far in 2015, according to new data from the Caribbean Tourism Organization. The Dutch Caribbean island received 294,411 stopover tourist arrivals in the first quarter of 2015, …

Grenada: IMF Approves $2.9 Million Disbursement Following Review

Above: Grenada (CJ Photo) By the Caribbean Journal staff The International Monetary Fund’s Executive Board has completed its first review of Grenada’s performance under a three-year programme supported by an Extended Credit Facility. The review’s completion means Grenada will now …

Haiti to Receive $70 Million Grant to Expand Caracol Industrial Park

Above: a power plant at the Caracol Industrial Park By the Caribbean Journal staff Haiti will be receiving $70 million in grant funding to expand its business facilities at the Caracol Industrial Park in the north of the country. The …

Sandals Expanding Grenada Operations

Above: Sandals and Grenadian officials this week By the Caribbean Journal staff Sandals is expanding its footprint in Grenada. The company announced Thursday the “imminent” establishment of a new sales and marketing centre for Sandals Resorts International and a new …