Adrian

BARBADOS – AN EXCLUSIVE CHOICE FOR A HOLIDAY. INTERVIEW WITH BARBADOS MINISTER OF TOURISM, HON. LISA CUMMIN

March 20, 2022

Barbados, this island in the Caribbean, embodies the dream of a relaxing holiday in captivating tropical surroundings. The island takes its name from the roots of a local variety of fig tree, which resemble a beard. The Portuguese called them bearded trees, hence the name Barbados, meaning "beard" in Portuguese.

The island's Minister of Tourism, Hon. Lisa Cummins, talks about contemporary Barbados.

What makes Barbados attractive to tourists?

When you think about the island's range of rooms, hotels, and villas, you might notice that Barbados is very much how people describe it—a playground for the rich and famous. However, I think the beautiful thing about Barbados is that while people come here and enjoy the luxury, they can just as easily walk down the street, pop into a local bar or shop, and find true Caribbean authenticity.

Do you notice any new investments in the luxury tourism segment?

Absolutely. Many people who have always worked with Barbados still have great confidence in the market, which is why they continue to invest in existing properties. There are also investors who come to Barbados and ask us about available opportunities because they genuinely want to do business here. For example, Royalton, a new development under construction on the west coast, is a completely new development with Canadian investors.

There are also new properties that are still being designed. I recently had a meeting about a new property that will be available on the east coast, where there is literally nothing currently. Once approved, it will be managed by an ultra-luxury brand. Again, this is a completely new development. So, I think our traditional partners are holding firm and staying in the market, but there are also new partners who are very keen to work with Barbados.

How do you plan to ensure Barbados stays at the top of the luxury market?

When the pandemic hit, we launched Welcome Stamp, a program for digital nomads. There were many people trying to replicate what Barbados was doing, but Barbados remained in the luxury market. People had to earn a minimum annual income to qualify for a year's stay in Barbados; in other words, they had to be able to support themselves independently of the state.

That meant we were attracting people who were CEOs or owners of Fortune 500 companies who, along with their employees or families, were here as part of the Welcome Stamp program.

They came, they saw, they liked it! And many of them stayed. But even many of those who didn't stay bought properties in the most exclusive neighborhoods. Some of them later applied for permits to open multi-story condos or rent out villas.

What else is Barbados doing to attract investment and move away from the “sun, sea and sand” concept?

We've always been about sun, sea, and sand, and tourism has always been our primary focus. But we also have other industries that are key to our success, and we need to expand them. Our new government has made two key commitments: anchoring and diversifying our traditional markets and sectors, while creating new opportunities in areas that didn't exist before.

These will include projects such as a science and technology park with a significant emphasis on renewable energy and environmental investments. We will also continue to consider how to position the tourism sector in the ultra-luxury segment.

What are your other plans?

At the last cabinet meeting, we discussed offshore islands, a common practice in the Middle East. Barbados conducted a commission study on where and to what extent we could create offshore islands. One of my priorities is to work with relevant teams and potential investors to identify at least one offshore island for development in Barbados, which would create new real estate investment opportunities. Sir Paul Altman has a whole idea he's very keen to pursue, and I hope we can work with him.

Moreover, the island's development would create new employment opportunities. To ensure the island's sustenance, opportunities for agricultural and manufacturing development, as well as crafts and creativity, would need to be developed.

The idea is that someone might be at the beach early in the morning before making a Zoom call to their headquarters in Zurich, then go play golf, then have a rum and coke at the local bar, all the while thinking about how to expand their investment portfolio with all these new projects happening in Barbados.

What are the new markets you are working with?

Last year, we met with the Saudis. We are also working with the United Arab Emirates, as we have a new ambassador there. In our manifesto, we clearly mentioned our priorities for markets like Qatar, the United Arab Emirates, and Saudi Arabia in the Middle East. We mentioned Ghana and Kenya on the African continent. We also want to move south, into Latin America. Besides the UK, which is our main source market, we have started to open up to Germany and Amsterdam, but we are also considering which other markets we should prioritize.

We are currently finalizing negotiations on air services agreements with Saudi Arabia and Qatar. We have already signed an air services agreement with Kenya and expect to do the same with Ghana in the coming weeks.

What is luxury to you?

Luxury means so much to so many people. For me, luxury is lying in a hammock and watching the sunset with a book—usually about women's leadership—and a bottle of Cabernet Sauvignon nearby! Another luxury is a wonderful massage at one of the many spas on the island. Luxury also means being able to sit in a hammock and listen to beautiful Barbadian music, which reminds me that I'm in the best place in the world. Luxury can also be going to a fantastic restaurant where you can enjoy wonderful food in a great location, with a great atmosphere and wonderful service.