TOURISM SECTOR

IN V E STME N T O P P O RTUN ITIE S IN N IC H E TO UR ISM I NVES TM ENT OPPORTU NI TI ES I N NI CHE TOU RI S M

CONTENTS
The historic and
contemporary 02 SAINT LUCIA AT A G LANCE
nature of
Saint Lucia 04 VALUE PR OPOSITION
makes it the
true investment
paradise. 05-09 TOUR ISM SECTOR OVE RVIE W

10-11 INVESTM ENT OPPORTUNITIE S IN NIC H E TO U RI SM

12 INVESTM ENT R EAD Y PR OJECTS

13 INVESTM ENT E NVIR ONM E NT

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 IN V E STME N T O P P O RTUN ITIE S IN N IC H E TO UR ISM I NVES TM ENT OPPORTU NI TI ES I N NI CHE TOU RI S M

SAINT LUCIA AT A GLANCE

Government Independent, Parliamentary Democracy.
Official Language English (French Creole widely used as a second language)
Location 21 miles south of Martinique; 26 miles to the north of St. Vincent; SAINT LUCIA
110 miles north east of Barbados THE CARIBBEAN’S
Climate Tropical tempered by the northeast trade winds, MOST BEAUTIFUL
mean temperature 28*C (82*F);
Area 616 sq km (238 sq miles) Habitable: 207.9 sq. miles
DESTINATION…
Topography Mountainous, intersected by numerous short rivers.
Saint Lucia is a
Population 172,811 (2013) fascinating tourism
Airports Hewanorra International and G.F.L. Charles destination, considered
Main sea ports Port Castries and Port Vieux Fort by many to be the most
beautiful island in the
Electrical Standard Voltage - 220/240 V Frequency - 50Hz Plug - G Caribbean. Famed for its
Telecommunications 3G, 4G, high speed broadband (optical fibre) natural beauty, hospitality
EST+1; GMT-4 and warmth of its people,
Time Zone
Saint Lucia presents a
Travel Time UK and other Europe - 8 hours; North America - 4 hours average unique value proposition
Currency Eastern Caribbean Dollar (ECD) to secure a solid return
on investment.
Exchange Rate 1 USD = 2.70 ECD
Inflation Rate 1.5%
Unemployment Rate 23.3% (2013)
Adult Literacy Rate 72.8% (2010 census)
Labour Force 55.9%
GDP US $1.32 billion

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 IN V E STME N T O P P O RTUN ITIE S IN N IC H E TO UR ISM I NVES TM ENT OPPORTU NI TI ES I N NI CHE TOU RI S M

VALUE PROPOSITION TOURISM SECTOR OVERVIEW

VALU E H ERITAGE
Saint Lucia’s rich history and cultural heritage
present a unique and authentic cultural
experience that cannot be replicated anywhere
else. The island’s French heritage remains very
present in the creole language which is widely
spoken, the mouthwatering cuisine, music,
dance, expression and architecture.
The island’s first European colonizers, the
French named her “Sainte Lucie’ (Saint Lucia)
and she is distinguished for having changed
hands between the English and French
4 times, earning her the name “Helen of the
West Indies”.
G E OG RA P H Y Tourism is the leading
The many natural and manmade sites and economic sector in Saint
attractions – lush hillside vegetation, tropical Lucia, contributing an
rainforest, waterfalls, the magnificent Pitons, estimated 10% of GDP
the Sulphur Springs, fishing and coastal and direct employment
villages, banana plantations, beaches and for approximately
spectacular sunsets all add to the charm of 20,000 employees.
Saint Lucia.
The Saint Lucia Government’s
policy has been to
P RODUCT DI VE RSI TY encourage investment in
Saint Lucia’s tourism product is indeed diverse, unique, sustainable and
encompassing small and intimate inns situated responsible world class
in scenic, remote and private locations to major projects that complement the
hotels perched on tranquil beachfronts. The existing tourism product and
northernmost part of the island is famously infrastructure. The policy
known as the entertainment hot spot, with encourages investments that
exquisite internationally acclaimed restaurants contribute to the preservation
that cater to a wide range of tastes, offering of historic and cultural
a variety of international cuisine. On the traditions in Saint Lucia and
other hand, the south and surrounding coastal diversify the product offerings.
villages cater to the spontaneous excursionist
and adventure seeker with an array of soft Saint Lucia is characterized
adventure activities including hiking, biking, as a high-end, luxury,
mountain climbing, waterfalls, eco-tours and boutique destination. The
ultra-chic boutique hotels. tourism product is varied and
continues to develop rapidly,
offering investors a full range
of accommodation, amenities
and ancillary services.
Saint Lucia is a leading
tourism destination and
decorated recipient of
international awards and
accolades for
her natural beauty, luxury
and romance.
Total visitor arrivals for 2013
was mixed; stay over and
cruise visitors both increased
by 3.9% to 318, 626 and
594,118 respectively.
Whereas there was a decline
in yachting visitors from 2012
to 2013, this segment has
grown over the last six (6)
years by 82.4% from a low of
22,422 arrivals in 2008.

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Year 2009 2010 2011 2012 2013

Stay Over 278,491 305,937 312,370 306,801 318,626
Cruise 699,306 670,043 630,304 571,894 594,118
Yachts 31,997 32,052 41,708 42,173 39,646
Total 1,009,794 1,008,032 984,382 920,868 952,390
Tourist Arrivals 2008-2013. Saint Lucia Tourist Board and Saint Lucia Economic and Social Review 2012

The USA remained the top source market for stay over visitor
arrivals with growth of 11.5% over 2012. This was followed by
arrivals from the Caribbean, Germany and the Rest of the World
growing at rates of 7.9%, 4.8 % and 16.2% respectively.

The total number of stay over arrivals has generally increased

since the onset of the financial crisis, signifying the steady
recovery of the sector. Arrivals from Europe are also expected
to increase due to the removal of bands C and D of the UK’s Air
Passenger Duty (APD) effective April 1st, 2015. This is expected
to reduce the cost of travel out of the UK to Saint Lucia. Efforts to
increase the number of major carriers to the island are ongoing Source Market 2013 Arrivals Market Share Cruise liners such as Celebrity, Carnival,
in traditional and new markets and it is therefore expected that USA 128,331 40% Norwegian, Royal Caribbean International,
arrivals will continue to increase in the foreseeable future. UK 70,868 22% Oceana Cruises and AIDA Cruises visit Saint
Caribbean 60,521 19% Lucia. Cruise arrivals have also remained
Canada 35,985 11% strong, a testament to the draw of the location
Rest of Europe 8,844 3% and the strong demand for the variety of
Germany 3,316 1% tours and amenities available on the island.
France 5,464 2% The number of cruise visitors and ship calls
Rest of World 5,297 2%
are slowly recovering but have not yet neared
Total 318,626 100%
the highs experienced in 2009 and 2010.
Year to Date, Stay-over Arrivals Report (December 2013),
Saint Lucia Tourist Board

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Saint Lucia’s accommodation sector has Source Market 2013 Arrivals Market Share Saint Lucia enjoys direct connectivity to most major US
performed relatively strong, recording an USA 128,331 40% gateways and the United Kingdom. There are two airports;
UK 70,868 22%
increase in bed-nights of 5.7% for 2013 over most visitors flying into Saint Lucia from international
Caribbean 60,521 19%
2012. Demand for accommodation continues Canada 35,985 11%
destinations go through the Hewanorra International Airport
to outweigh supply. The island’s tourism plant Rest of Europe 8,844 3% in the south. LIAT, Air Caraibes and Caribbean Airways
encompasses a mix of self-contained villas, luxury Germany 3,316 1% service regional travel from the George F L Charles Airport in
condominiums and over 4,000 rooms available France 5,464 2% the capital, Castries.
in more than 92 properties. Rest of World 5,297 2%
The tourism sector has
Total 318,626 100%
Source: Saint Lucia Tourist Board recorded positive growth
Expenditure by Market (2013)
Both local and foreign investors are active in the over the first eight
accommodation sector in Saint Lucia with market Source Market Average daily Average Total arrivals Estimated total Percent months of 2014 which
leaders such as Sandals owning 3 properties and expenditure length of stay expenditure share
can be attributed to the
USA $ 306.14 7.7 128,331 $302,514,313 48%
boasting a total of 801 rooms. Other iconic, airlift and marketing
UK $ 170.34 11.1 70,868 $133,995,372 21%
boutique resorts and luxury brands include Bay programmes. Stay-over
Caribbean $ 157.92 6.8 60,521 $64,512,965 10%
Gardens Resorts, Sugar Beach a Viceroy Resort, arrivals for that period
Canada $ 238.66 9.4 35,985 $80,512,502 13%
Six Senses, Landings, Cap Maison, Capella at totaled 236,763; a
Other Europe $ 174.91 11.0 17,624 $33,831,203 5%
Marigot Bay, Hotel Chocolat and Ladera. 7% increase from the
Year to Date, Stay-over Arrivals Report (December 2013), Other World $ 242.05 11.7 5,297 $15,032,923 2%
Saint Lucia Tourist Board
previous year.
Total $ 226.57 8.7 318,626 $630,399,278 100%
Visitors from the US market account for 48% Saint Lucia main source
Source: St. Lucia Tourist Board, Annual Stats Report 2013 (all currencies in US dollars)
of all expenditure with an average stay of 7.7 market (USA) recorded
days at the highest rate of daily expenditure of City Flight Time Carrier an increase of 14% from
$306.14. Visitors from the Rest of the World Miami 3.5 American Airlines the previous year totaling
stayed in Saint Lucia the longest at an average New York 4.5 JetBlue 102,243 for the period
Boston 4.5 JetBlue Market 2014
of 11.7 days and had the second highest daily (January-August). The
Toronto 5 Air Canada, West Jet, Sunwing USA 102,243
expenditure of $ 242.05. The UK had the New Jersey 5 United Airlines UK 50,410 UK, Canada, Germany
second largest share of expenditure for the year New York 5 Delta Caribbean 38,510 and rest of Europe also
2013 at 21%. Atlanta 5 Delta Canada 28,525 recorded growth of 7%,
France 7 Condor Rest of Europe 7,019 10%, 20% and 18%
Manchester 7 Thomas Cook Germany 2,463
France 4,411
respectively. Stay-over
Charlotte 6 US Airways
Philadelphia 5 US Airways Rest of World 3,182 arrivals for 2014 are
Six Senses is presently under construction. London 8 British Airways, Virgin Atlantic Total 236,763 expected to grow by 5%.

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INVESTMENT OPPORTUNITIES
IN NICHE TOURISM
Saint Lucia is uniquely positioned as a high end TH E SA I NT LUCI A TOURI SM H E ALT H & W E L L N E S S FAC I L I T I E S S PE C I ALT Y RE S TAURAN T S , A RT GA LLE R I E S ,
destination with award winning, boutique hotels, Saint Lucia’s natural beauty, traditional S H OPPI N G E S TABL I S H M E N T S , A N I M ATI O N
world-class accommodations, stunning vistas I NDUSTRY I S OP E N F OR remedies and healing springs complements C E N T RE S AN D E L I T E M E RC H A N D I S I N G
and clusters of ancillary facilities. The prospects I NVE STME N T… the tourism product. Opportunities exist for the The need for investments in value added
for growth and development of the tourism establishment of spas, wellness, recuperative tourism services has been recognized as a
sector in Saint Lucia are strong and healthy, With large acreages of available land ideally care, diagnostic facilities, and specialized key component of the overall tourism product.
offering investors a plethora of opportunities for suited for tourism, Saint Lucia offers discerning facilities. Investments in Specialty Restaurants, Art
involvement in the following: investors a secure and stable environment to Galleries, Shopping Establishments, Animation
invest in strategic tourism ventures. Investment E C O L ODG E S AN D E N V I RON M E N TAL Centres and Elite Merchandising will add
TY P E S O F I N V O LVEM ENT: opportunities exist in the following: L E I S URE PARK S new dimensions to Saint Lucia’s versatile and
• Equity partnership or total investment A mix of natural and manmade sites and dynamic tourism sector. This will provide
• Joint ventures HIG H- EN D BRAN DED HO TELS attractions - tropical rainforest, waterfalls, the investors with a brand new set of investment
• Strategic alliances and/or AN D RES O RTS Pitons, the Sulphur Springs, fishing villages, opportunities.
partnerships with internationally Saint Lucia provides investors with potentially banana plantations, and spectacular sunsets
recognized operators lucrative opportunities for greenfield all add to the charm of Saint Lucia. The island’s C RUI S E PORT S AN D M ARI N A S
development in high-end branded hotels and natural assets and growing awareness of the With the planned expansion in the global cruise
Saint Lucia has been recognized as the “Best resorts. Investment opportunities exist for need to protect and conserve the environment and yachting sectors, Saint Lucia is poised to
Island in the Caribbean” in 2013 by Global operators and international brands. have contributed to a thriving niche for soft benefit from increased visitors and port calls.
Traveler and has been awarded the world’s adventure with investments in eco lodges and Upgrades to the existing infrastructure with
leading honeymoon destination nine times C HIC BO UTIQ UE PRO PERTIES environmental leisure parks. integrated leisure marina facilities that include
by the World Travel Awards. Saint Lucia presents an ideal location for amenities - retail, restaurants walk ways,
boutique hotel investments. The island has S TAT E OF T H E ART E N T E RTAI N M E N T chandlery services, provisioning, boat repair
a proven track record in this segment with E S TABL I S H M E N T S and maintenance and are all real opportunities
award winning properties - Cap Maison, Saint Lucia plays host to music and food for investment.
Anse Chastanet and Jade Mountain, Ladera, festivals as well as international sporting
Hotel Chocolat, Bay Gardens Resorts, etc. events that enhance the travelers’ experience.
The staging of such events presents excellent
opportunities for business interests in state of the
art entertainment establishments.

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 IN V E STME N T O P P O RTUN ITIE S IN N IC H E TO UR ISM I NVES TM ENT OPPORTU NI TI ES I N NI CHE TOU RI S M

INVESTMENT READY PROJECTS INVESTMENT ENVIRONMENT

QU AL I F I E D I NV E ST M ENT READY P ROJ EC TS There are basic procedures to be followed when investing in Saint Lucia.
Atlantic Ocean
These include:
Gros Islet
1 Le Paradis Rodney Bay

1. INCORPORATING A COMPANY IN SAINT LUCIA 4. WORK PERMITS

Monchy
2 Jade Sea Incorporation of companies must be done Under the Foreign National and
GFL Charles through a lawyer registered in Saint Lucia. Commonwealth Citizens (Employment)
Airport
3 Port Castries Redevelopment Marquis The three step process is simple: Regulation, No. 3 of 1971, all persons
3 who are not Saint Lucian or OECS
Castries a. Application for name search and
4 Morne Le Blanc Babonneau Grande
name reservation; nationals or citizens require a work permit
Anse
Caribbean Sea b. Filing of articles of incorporation with to engage in any form of occupation on
Soucis
5 Ocean Grande Resorts the Registrar of Companies (Declaration of the island.
La Croix Maingot
Marigot Bay 5 Compliance, Memorandum of Association,
Derniere
Rivière
articles of Association); 5. PLANNING & BUILDING APPROVALS
Anse La Raye c. Payment of fees and issuance of If a company is desirous of constructing a
GrandRivière
Certificate of Incorporation within building or developing land it must apply
Canaries
Dennery
3-5 business days for permission from the Development
Control Authority and other regulatory
1 2. TRADE LICENSES agencies for areas such as Environment,
Mon Repos
All foreign companies who intend to Health and Safety.
Mt Gimie
Soufriere
conduct business in Saint Lucia must
obtain a Trade License. Trade Licenses 6. INCENTIVES
2 are issued by the Ministry of Commerce The Government of Saint Lucia provides
Micoud
Petit Piton on a monthly basis. incentives to encourage the development of
Gros Piton
the Tourism Industry by providing relief from
Desruisseaux
Belle Vue
3. REGISTERING FOR VALUE ADDED TAX (VAT) income tax and customs duties to approved
Choiseul VAT is levied at a standard rate of 15%, the tourism products. These include but are
accommodation and other tourism related not limited to accommodation, restaurants,
4
Laborie services is levied at 10%. sites and attractions, and other ancillaries
Any business activity that exceeds the directly related to the sector.
For more information on investment ready projects, Vieux Fort
established threshold EC$180,000 is
contact Invest Saint Lucia. Hewanorra int'l Airport required to apply for registration for VAT.

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 IN V E STME N T O P P O RTUN ITIE S IN N IC H E TO UR ISM
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