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Without a doubt one of the most popular luxury destinations in the world is Barbados. Why you may ask? The answer is simple – breathtaking scenery, rich culture and friendliness of the country. Barbados provides the best of both worlds. One of the best places to relax, Barbados also has exquisite restaurants, vibrant night clubs and world class golf courses. Throughout Barbados you notice the British atmosphere with cricket being the national sport. But despite the British influence, it is still a cosmopolitan country.
Located where the Atlantic Ocean meets the Caribbean Sea and close to the equator, Barbados enjoys a warm and sunny climate all year. It is predominantly flat with rolling hills to the north, and has a unique coral structure which acts as a natural filter making its waters amongst the purest in the world. The Atlantic east coast is less developed and ruggedly beautiful, offering some spectacular panoramas forged over millions of years by the powerful Atlantic Ocean's winds and waves.
As one of the most popular destinations in the world the tourist industry is now well established. There is a huge demand for hotel accommodation all year round, thanks to the good weather. Every year the total number of visitors has increased to Barbados and 2010 ended with a growth of 5% and a 10% rise in visitors in January 2011 (http://www.travelweekly.co.uk/Articles/2011/03/03/36305/barbados+whats+new+for+2011.html)
There is an established property market in Barbados and prices are still rising due to near saturation as there is a limited stock of property available for sale and limited land available to build on. With capital growth expected to be consistent it is still an attractive prospect for overseas property investors who can be assured of a high return on investment
The Bajan Government sees the tourist industry as the main catalyst for economic development and has created the Tourism Development Act which offers incentives to expand the tourism and hospitality sector. It includes provision for investors in tourism projects to benefit from write off of capital expenditure and 150% of interest. Barbados also has an exemption on import duty, value added tax, building materials, supplies and equity financing.
The only sustainable option for tourism on a small island state like Barbados is to offer quality over quantity and to offer it all year round. As Barbados is in huge demand for overseas property investment, the demand will eventually outstrip the supply which means interested investors will be waiting on waiting lists to get on the island.
For those considering a Caribbean investment an obvious choice is the Buccament Bay Beach Resort, but you can also consider the Merricks Beach Resort, situated in the south east of Barbados on the stunning Atlantic coast in the parish of St Philip, 4km north of The Crane and next to Sam Lord’s Castle. As one of Barbados’s most luxurious family orientated 5 star property investments, it offers the highest quality, state of the art accommodation and the very best amenities including a world class spa. This level of accommodation is sparse in Barbados, so you get the very best.
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