The Ins & Outs of Barbados 2022

90 Property & Investment Why Barbados? Even during times of economic recession, Barbados has traditionally retained the intrinsic value of its many favourable assets, including easy international access, sound infrastructure, modern telecommunications, good healthcare, financial security, adherence to a robust legal system, social stability, friendly people, world-class recreational facilities, beautiful natural environment and an enjoyable lifestyle. Footprints Photo Courtesy Hammerton Barbados Today, that attractive Barbados package has been substantially reinforced by the government’s implementation of newmeasures to provide investors with a well-regulated, well-managed, business friendly economy, underpinned by a competitive low tax regime. From 2014 to 2019, Barbados benefitted from record tourism arrivals, and during that period the number of rooms available for visitors doubled, mainly due to an increase in rental villas and condominiums, which now exceed hotel rooms. The growth of the villa sector can partly be explained by the modern tendency for consumers to look for a particular product that best matches their specific needs and then book direct via online giants such as Airbnb, VRBO, Owner Expedia, Booking.com and Trip Advisor. This of course is good news for developers planning to build these kind of units and for purchasers looking to buy them, as there is increased capacity for generating rental income to offset expenses. Current indicators suggest that Barbados is well- positioned to enter a new and exciting phase of development.