Business Barbados 2022

spent a lovely time exploring the wrecks. Home in time for shower, breakfast, then online school and work. He said that “my life has never been this balanced between family and work,” adding that “this has been a life-changing experience for us… one that our children will never forget.” This is not the shallow marketing cliché of ‘lifestyle’, instead it is the environment where you can experience the deepest most profound joys of life. “It’s been brilliant,” Conrad continued, “I can’t praise Barbados enough for being so innovative in their approach to changing from short-term tourism to long-term tourism. Instead of coming here for a couple of weeks, It’s given us the ability to settle in, really get to know the country.” Barbados has worked so hard to diversify beyond short term beach tourism and the Welcome Stamp is the catalyst that finally makes that hard work viable. These Welcome Stampers engage with Bajans much more authentically than our conventional tourists ever have because they are not just here today and gone tomorrow. They want to understand our history and our culture. They want to experience our cuisine and our music. The want to really live in Barbados, not just pass through on a superficial visit. The 12 Month Barbados Welcome Stamp Visa programme has been an unparalleled success, to the point that dozens of countries around the world have flattered us by imitating it. In the first year the Immigration Department approved 1,987 applications from all around the globe, but most are from applicants in the USA, UK, Canada, and Ireland. The minimum household income to be qualified for the visa is $50k USD, but their average income is higher than that. A preliminary estimate of their annual spending in Barbados is about $55k USD per household, which means that they are already likely having an impact on the Barbados economy that exceeds $100 million USD on an annualised basis. The Welcome Stamp programme is the fastest growing part of the Barbados tourism industry and it has a very bright future. Barbados will keep innovating to keep it growing to achieve a tourism renaissance and foster local economic growth. Above: Shallow wreck in Carlisle Bay BUSINESS BARBADOS 2022 32 T H E B A R B A D O S W E L C O M E S T A M P