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- St. Vincent and The Grenadines: Tourism and Economy Statistics and Government Incentives
In 2006 the breakdown of international visitors to St. Vincent and The Grenadines breaks down as so:
US 28,598 (29.4%)
UK 14,837 (15.2%)
T&T 11,002 (11.3%)
Canada 6,542 (6.7%)
Other Caribbean 27,217 (27.9%)
Other Europe 7,214 (7.3%)
Rest of World 2,112 (2.2%)The number of UK visitors to St. Vincent and The Grenadines in 2006 was 14,837, 15.2% of the total number of visitors to the island (97,432). The total number of arrivals has increased by 25.5% since 2002 at an average rate of 5.93% per year during this period.
In 2006 Total Expenditure by tourists was $95.6 million.
The Tourism Budget was $3.474 million.In 2007 total visitors increased by 16.5%. The UK (21.4%), Canada (8%) and USA (2.7%) all saw significant growth.
(www.svgtourism.com)
(Caribbean tourism organisation, “St. Vincent and The Grenadines 2006”)Economic Growth:
Between 2003 and 2007, the economy in St. Lucia has grown on average at 6.03%
(Eastern Caribbean Central Bank)
Tax IncentivesIn line with the governments aim to encourage growth in Tourism concessionary rates of tax are payable on property.
For tourism related development where the occupancy tax is applicable and the annual rental value exceeds $20,000 the tax charged is 1.5% rather than the usual 5%.
(National Investment Promotions Inc)
Hotels with more than 35 rooms are granted 15years income tax exemption from date of opening of the resort.
An approved construction order grants concessions for construction materials for excise duties and consumption tax
Resorts accommodating more than 100 people are exempt from import duties on food and beverages.
(Investment Promotions Inc)
- St. Lucia: Tourism and Economy Statistics and Government Incentives
- Barbados: Tourism and Economy Statistics and Government Incentives
- World and Whole Caribbean Tourism Statistics
- Dominican Republic: Tourism and Economy Statistics and Government Incentives
- Investment Banks - Strong Interest in the Caribbean
- Record breaking attendance, $100 billion in investment highlight Caribbean hotel &
