Arguably the most exciting investment market is Grenada.
Renowned for its picturesque interior of rainforests and waterfalls
and its coastline of protected bays and secluded beaches, Grenada
is the last undiscovered jewel of the Caribbean but one whose
popularity is rising rapidly. Visitor numbers in the first quarter
of 2008 increased by 24% compared to the same period the previous
year reaching 191,276. Stay-over arrivals for the same quarter in
2008 increased by 8% compared to 2007 as did cruise ship arrivals,
growing by 29%. Of the total number of stay over arrivals, 37%
stayed in hotels. Bolstering the tourist industry is a stable
economy with GDP growth increasing by 3.1% in 2007 and FDI inflows
reaching EC$255,463,153 for the same year.
There are already a handful of new high class developments under
construction including Prickly Bay Waterside development at Lance
aux Epines, the proposed Four Seasons project on Mount Hartman Bay
and Hog Island, 5* Bacolet Bay Resort and Spa in St. David's,
whilst in the capital Port Louis, Trading Company is to develop a
400 berth international yacht club and marina in association with
the Ritz Carlton. In line with the emergence of these high end
resorts, it is expected that there will be annual price rises of
10% or more over the medium term. As such land prices have started
to reflect the growth in property development, with the average
coastal property price being around £1,776 ($3,500) per square
metre. Non-nationals must pay the Alien Land Holding Tax at 10% of
the property's value to buy an Alien Land Holding License.
Saint Andrew Parish and Grenville
Saint Andrew's is the largest parish in Grenada with Grenville
as the main town, the island's second largest after St George.
Grenville is a very important economic and transportation hub for
the eastern part of the island; it also contains one of the largest
nutmeg processing plant in Grenada. As this is the main city the
town centre runs buses to all parts of the island.
Saint George's Parish
Saint George's is the capital of Grenada and is known to be one
of the most attractive cities in the Caribbean. The parish has a
horseshoe-shaped harbour surrounded by several warehouses. It is
the main shipping port on the island. The parish is also home to
one of the world's best known beaches, Grand Anse. The major
airport on the island, Point Saline International Airport, is
situated in the Saint George's parish, making it a very important
central point for Grenada's tourist industry.
Saint John Parish
The parish of Saint John is described as the liveliest in
Grenada and is known locally as 'the action city' because the place
never sleeps. The locals take pride on fishing being the parishes'
main industry. Gouyave is the second largest city in Grenada and
home to another of the island's biggest nutmeg factories and old
spice plantation. The Gouyave city is less well known to
tourists.
Saint Mark Parish
Saint Mark is the smallest parish in Grenada but it does contain
the highest peak on the island from Mount Saint Catherine volcano.
A popular tourist attraction in the parish is the Tufton Hall
waterfall situated in a beautiful and quiet location. Saint Marks
has a good night life with several bars and nightclubs to offer a
wide range of tourist interest. Every year a festival, the 'St.
Marks's Day Fiesta', is held showing the different traditions
of the villages in St. Marks. Tufton Hall is an estate which is
said to become a recognised cultural and geographical centre by
late 2008 attracting more tourists.
Top