Cabinet Explores Strategies to Boost Local Involvement in Tourism
The government of Antigua and Barbuda is actively exploring ways for its citizens to play a more significant role in owning the tourism industry.
When Cabinet met on Wednesday, they highlighted concerns regarding domestic ownership were a focal point of discussions among government officials.
While acknowledging the importance of foreign direct investment (FDI), Cabinet members emphasized that Antigua and Barbuda’s citizens should also have the opportunity to participate in the thriving hotel sector.
They expressed concern that many locals are merely letting their savings accumulate a modest 2% interest in the bank, while potentially profitable opportunities in tourism remain untapped.
The Cabinet underscored that investments in the tourism and hospitality industry typically yield substantial returns.
They agreed that more residents should be motivated to invest in the development of luxury homes and upscale condominiums, which promise lucrative annual returns.
Specific areas earmarked for investment, including Pensioners’ Beach, Willoughby Bay, Callalloo Quay, and Halcyon Heights, are set aside for Antiguan and Barbudan nationals who are willing to commit their financial
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