While St Lucia, in The Caribbean, consistently attracts a high volume of tourists, expats, and investors on its own very beautiful merits, in the aftermath of the global recession, the island's government has stepped up its efforts to encourage international investment in projects that aim to be sustainable, responsible, and culturally significant. |
With the government's policy of nurturing responsible development across a wide range of products and projects, prospects go beyond the traditional residential bricks and mortar investments of property in St Lucia. The island offers a host of unique benefits for the investor looking to dip their toes into the warm waters of The Caribbean, including tax exemptions for approved tourism and accommodation projects.
Here is a brief look at some exciting growth areas for foreign investment.
Galleries, Restaurants, Retail Spaces
Alongside luxury accommodation, there's a need to augment the luxury infrastructure with what's labelled 'value added tourism', in the form of appropriate retail products. The development of businesses in the form of high-end boutiques, restaurants and cultural outlets provides huge scope in addition to investment in property in St Lucia.
For the high-flying investor, the stratospheric rise of the cruise industry in The Caribbean represents a prime opportunity. In addition to new marina and port projects to deal with market expansion, the maintenance and upgrade of existing retail and chandlery facilities is also a lucrative sector to be considered.
Boutique Properties & Branded Luxury Resorts
Acquisition of luxury real estate is still one of the most popular investments. In both the niche boutique accommodation sector and high-profile branded international chains, there are myriad opportunities to capitalise on the island's tracts of vacant land approved for development.
Entertainment and Sports
With a vibrant arts, entertainment and sporting scene, a busy calendar of high-profile festivals and events provides plenty of opportunities to invest in both their management and the acquisition or development of state-of-the-art commercial property in St Lucia.
The spectacular beauty and cache of natural assets of the island has contributed to a niche but growing market for sustainable, responsible development of tourism sites and conservation focused accommodation. Investments take the form of eco-lodges, wildlife and environmental parks, manmade attractions, and existing natural sites.
Health and Wellness
The global boom in the health and wellness sector is a perfect complement to St Lucia's own culture of traditional remedies and concepts of holistic natural healing. As well as luxury spas and wellness centres, opportunities exist for investment in diagnostic facilities, after care, and specialised treatment centres.
Ways to Invest
With an enviable position as an established high-end luxury destination, and strong growth figures despite a fluctuating global climate, St Lucia is attractive to investors on a number of tiers, including sole or equity investment, joint ventures, and partnerships with high-profile international operators.
For those prepared to look outside the square and take advantage of the St Lucian government's commitment to diversification and preservation of their island region, the opportunities for foreign investors are both diverse and exciting.
Adam Gobat is a renowned expert on the Caribbean, with a passion for its culture, history, people and places. His in-depth local knowledge and wealth of experience in luxury property in St Lucia are key to the marketing and sales of the luxury villas and penthouses in The Landings, a unique freehold opportunity for beachfront property in the Caribbean.
Related Articles -
Property, in, St, Lucia,