Tourism
Overview
St. Lucia's tourism product is quite diverse and continues to develop rapidly, offering regional and international visitors a full range of accommodation amenities. These span small and intimate inns situated in scenic, remote and private locations to major hotel chains like Ritz-Carlton and the Sandals Group situated on prime beachfront property. The island''s tourism plant encompasses a mix of self-contained villas, luxury condominiums and state-of-the-art golf courses.
Incentives
A Tourism Incentives Act outlines a range of tax and non-tax incentives offered to approved investors. Special tax concessions are also given for capital construction in the hotel industry. Capital expenditure on the construction of a hotel may be offset against profits for up to 15 years.
Investment Opportunities
St. Lucia offers a range of specific investment opportunities:
Accommodation:
Entertainment facilities including night clubs, theme parks, bars and specialty restaurants. Fiscal incentives and trade concessions are also provided for business enterprises which are involved in provision and/or development of entertainment and/or leisure and related support services to the tourism industry. Marinas, theme parks, sporting facilities (both land base and marine) are included.
New Niche Markets:
Accommodation:
- Establishment of five star "flagship" European Plan (EP) Hotels
- Hotels providing conference, meeting and gaming facilities
- Hotel investment in the south-western part of the island
- Eco-tourism facilities and accommodation including eco-lodges and tented lodges
Entertainment facilities including night clubs, theme parks, bars and specialty restaurants. Fiscal incentives and trade concessions are also provided for business enterprises which are involved in provision and/or development of entertainment and/or leisure and related support services to the tourism industry. Marinas, theme parks, sporting facilities (both land base and marine) are included.
New Niche Markets:
- Yachting
- Windsurfing, sports and dive tourism
- Meeting, incentive and conference group facilities
- Heritage / Eco-tourism facilities (joint ventures between local and foreign investors)
- Health/Wellness Resorts
- Tourism Education - Hospitality Training Institutions
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