Dominica to Invest in Growing Tourism Industry - CS Global Partners

LONDON, February 5, 2019 /PRNewswire/ --

Last month, Director of Tourism of the Commonwealth of Dominica, Colin Piper, announced that the country's tourism industry had outperformed projections for 2018. Attending a Digital Marketing, Travel, and Distributions seminar in January, Mr Piper provided an update on the country's tourism sector expansion in 2018. Extolling the industry's achievements, he spoke of plans for continued investment in 2019. This is seen as good news for applicants to the country's Citizenship by Investment (CBI) Programme.

A veteran in the CBI industry, Dominica is considered the best jurisdiction from which to obtain economic citizenship, according to experts at the Financial Times. The Professional Wealth Management 2018 CBI Index, which reviews all CBI programmes globally, was released in August last year, ranking Dominica as the best for second citizenship. FT specialists recognised Dominica particularly for its applicant security checks, termed 'due diligence.' The Programme comprises of two investment routes: the Economic Diversification Fund (EDF), to which a contribution is made; and the real estate option, under which applicants purchase pre-approved property. Both channels operate at the same premium standard, offering the security and protection for economic citizenship.

At the seminar, Mr Piper examined different tourism subsectors, celebrating their successes. Such subsectors included health and wellness; cruises; cuisine, which saw the launch of a new food and beverage festival dubbed 'Taste of Dominica'; and hotels, with luxury boutique resort Secret Bay, named as the best resort in the Caribbean by Forbes. Talking of developments in 2019, the Tourism Director highlighted improvements to customer service, marketing and access to Dominica. All will benefit visitors to the island-state, including economic citizens. "And if we can improve on these," Mr Piper declared, "then we're going to be in a better position throughout the year than we are currently."

The economic growth likely to result from such development will lead to higher returns for investors and new opportunities to develop local business. This is of particular interest to the businessmen and women who apply for Dominican citizenship. Another example of the Government's prioritisation of issues important to entrepreneurs, led by Prime Minister Roosevelt Skerrit, is the $15 million upcoming loan facility at the Agricultural and Industrial Development Bank. Heralded in Mr Piper's speech, the facility will provide further financial support to entrepreneurs.