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Grenada’s Beauty Battles The Tourism Beast

May 13, 2009Article by Ray Withers

Many Caribbean islands have surrendered to tourism and put the natural beauty, culture and ambience that attracted tourists in the first place on the line.Lots of these islands are now stop-offs for cruise liners disgorging hundreds of passengers for a whistle-stop tour of overpriced shops, restaurants and tourist traps that raise the prices when they see them coming.One island fighting with an internal conflict over tourism is Grenada.

On the one hand, the government is trying to embrace tourism by tough planning controls on Grenada real estate and allowing the liners to land their passengers so the locals can relieve them of cash.The aim is to preserve the character and beauty of the island while still bringing in the much-needed tourist dollars.

Throughout the cruise seasons, liners disgorge more than 250,000 passengers in to the capital St George’s – popularly held to be one of the prettiest Caribbean cities.On the other, locals are rallying against Grenada property investments in historical locations and beauty spots.The problem is balance – the population needs tourism that brings in cash and improves the standard of living for everyone, but they also want to keep the natural beauty of their island intact and open to all, not just the rich.

One of these resorts that meets with local approval is the luxurious Bacolet Bay, which provides top class accommodation and facilities as a resort set in 41 acres of tropical gardens with state-of-the-art facilities, including a leading spa, leisure and restaurant.From £71,550, investors can buy accommodation with a 70% loan-to-value mortgage with returns predicting net yields of between 11.3% and 14.3%Owners can play out their tropical island fantasies with four weeks personal use per year.

Bacolet Bay, Grenada, will feature a holistic spa created by the renowned designers of the Armani spas in Tokyo, Dubai and Milan. This resort features a beachfront wedding chapel, and crèche.
Currently, Grenada has a handful of five-star hotels and resorts. Occupancy rates stand at 89% during the peak season, whilst a conservative estimate for future occupancy rates over the year is 65%.
An expert management company with a track record in controlling top international resorts will look after investment in Bacolet Bay.

Author

Ray Withers

Ray has over 17 years’ experience in the international property market and bought his own first international property investment back in 2002. Aside from running Property Frontiers, Ray has been involved in residential, hotel, student and commercial property investment and development in both the UK and overseas and co-wrote "Where to Buy Property Abroad - An Investor's Guide". As Founder and Trustee of the Frontiers Foundation, Ray is directly involved with many of its projects to ensure they have a direct and tangible impact in individual communities across the globe. He is passionate about property, travelling, scouting out new opportunities and finding time to spend with his young family.
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