St Kitts-Nevis projected to record high levels of economic growth
The American Airlines Miami to St Kitts and Excel's
London-Gatwick to St. Kitts flights on the ground at the
Robert L. Bradshaw International Airport in St Kitts is a
boost to stayover arrivals
Increase in cruise ships is a boost to the St Kitts and
Nevis tourism industry. Photos: Erasmus Williams
Tuesday, April 12, 2005
BASSETERRE, St. Kitts: The St Kitts and
Nevis economy is projected to record high levels of economic growth in the
foreseeable future. That’s according to the
Federation’s Prime Minister Dr Denzil Douglas who told an international forum
that the improvement in the fiscal prospects for St. Kitts and Nevis is
accompanied by a dramatic improvement in the medium-term growth outlook.
“In 2004, for instance, it is estimated that
economic growth increased from less than a half percent in 2002 to more than
four in 2004 and that with the imminent implementation of a wide range of
private sector projects including at least three hotels, two golf courses, and
a marina, the growth rate would increase even further over the medium terms,”
said Prime Minister Douglas, who is also Minister of Finance.
He said the major indicators are already pointing in the right direction.
“For instance, stay-over tourist arrivals jumped by some 31 percent in 2003
and continue to increase at a relative rapid rate; and, based on the pattern
of arrivals in the first quarter of this year, it seems that cruise ship
passenger arrivals would reach record levels in 2005. Government revenue
intake has also responded positively to these developments in that the
Government’s current revenues have jumped by some 42 percent over the past
three years,” Dr. Douglas stated. Issuing an
invitation to the investors and potential investors to visit St. Kitts and
Nevis to see the vast array of profitable opportunities that are available,
Prime Minister Douglas said that the twin island Federation is the financial
centre of the Eastern Caribbean and the home of the Eastern Caribbean Central
Bank (ECCB) and its wide array of financial institutions.
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