Established in 1998, Barbados Tourism Investment Inc. (BTI) manages investment into a diverse portfolio of tourism-related properties, as well as the implementation of the Urban Rehabilitation Programme. In this interview, CEO Stuart Layne provides his insight into Barbados’ tourism industry, operations at BTI, major hotel developments, and opportunities for German investors in the expanding luxury tourism sector

What are the main tourism offerings here in Barbados?

Over the years we have tended to attract fairly well-heeled visitors. Knowledgeable visitors are usually attracted to us because of our culture. We also have well-developed infrastructure, such as telecommunications, health and other services. We have also traded on good dining capabilities and places of interest. We have world heritage properties and rich culture. In that way, we have a particular type of experience here that you won’t get from other Caribbean islands.  Of course, we all have something in common: we have beaches, sun, sea and sand.  But then we all have subtle differences in our culture and the way we present ourselves.

The Minister of Tourism has announced investments in approximately 20 major new hotel sites in one of the most picturesque settings in the Caribbean, the Greater Carlisle Bay. Can you tell us more about this master plan and the impact it will have on the tourism sector?

It will help us in terms of increasing our capacity and therefore a sustainable economic future for us.  Adding an extra 4,000 rooms, by our calculations, will virtually guarantee full employment. Anyone who is interested in these projects can come to us and express their ideas and learn about the properties that have already been given outline-planning approval. 

We’ve had some interest in the area. We are currently working on a Hyatt property, which has over 400 rooms. That should start during the first half of 2020. We also have another development in the area on the waterfront, which is scheduled to start at the end of 2020 or the beginning of 2021. That is a mixed-use development of approximately 200 rooms. We’ve also been working on a Wyndham Grand, which has another 450 rooms. So these are some of the projects that we are working on right now and we have already started exploiting opportunities in the area.

Having said that, there are still plenty of projects within the corridor – and in the wider field across Barbados – available for investment right now. So I wouldn’t want your readers to believe that everything is taken because it’s not. We are open for business and we are looking for investment. Because we are a small island, we are never going to be a mass tourism destination. We’ve always tended towards a luxury presentation. We want to make sure the investors get the returns they are looking for. Developments here do not have to be an exclusive luxury, but they certainly have to be upper-scale developments. We are not in the business of mass tourism.

BTI oversees the Urban Rehabilitation Program in Speightstown, St Lawrence Gap, Bridgetown and Oistins. Can you tell us more about this project?

BTI has a double-barrel remit: one is tourism development and the other is urban regeneration. Over the years we have done several hundred million dollars worth of urban regeneration for Speightstown, for St Lawrence and for Bridgetown. And we do these things in support of the tourism industry but also to enhance the social viability of the area for local residents. Tourism runs on infrastructure, whether that is water and sewerage or green spaces, etc. We have created and we will continue to create green spaces. So we do what we do, not just for visitors, but for the local population as well.

The Prime Minister told me that even though you are a small island you have different accents and different cultures from one region to the other. Are there specific investments you’re looking for depending on the region? Are you trying to create an identity and a particular kind of tourism in each region?

What we are trying to do is ensure that each area will have some level of development that can help to uplift the economic wellbeing of the people living in that particular area. As I said to a potential investor in the north recently: while do we have tourism in the South and in the West, if we get that development in the north then that helps immediately with the people living in that area. That is what we are working on.

Where are the investors coming from primarily right now?

We’ve had a lot of investment coming out of the UK because of the cultural ties. As a commonwealth nation, we’re still tied to the monarchy so our head of state is still the Queen of England. We’ve only had one colonizer – Britain, so our links are very deep. 

What would you say to German investors who may be interested in investing in things like boutique hotels here in Barbados?

The first thing is to say that we are open for business. We are a safe destination. We have infrastructure that works. And we are willing to work with you to make sure that you are happy and we are happy in order to build a long-term relationship. We know every country will have its attributes but we believe you need to give us a look based on what we have and our capabilities here. We have a very well educated workforce and we are well connected with the rest of the world.

Accommodation is the main priority but there are many other opportunities for investment as well.  You may want to consider a restaurant, a nightclub, etc. So there are all these different opportunities because we already have visitors here who are looking for activities and attractions. But overall we’re open for business and we are looking forward to doing business with German investors. 

Even for the small investors who may just want to come here and set up a small guesthouse, we are here for them as well. We are a facilitator agency, so anything investors need from the investment perspective; we will be there to hold their hand, so to speak, and help them with whatever they need.