Grenada tourist arrivals have jumped 18.6 per cent in the first half of 2014, according to the Caribbean Tourism Organisation. The CTO’s figures show that, after a period of tightened purse strings, visitors are going back to the Caribbean once more.
Indeed, the region has recorded growth of 5.2 per cent during H1 2014. Winfield Griffith, the CTO’s director of research and information technology, has revealed that almost half of those visitors – 6.87 million of the total 14 million long-stay tourists – were from the US.
Griffith comments: “There is enough evidence to suggest that there is growing economic confidence in the region’s biggest neighbor and this is releasing much pent-up travel demand caused by a long recessionary period.”
This pent-up demand has also been released in Canada and Europe, with those regions showing visitor number increases of 4.3 per cent and 6 per cent.
As the world’s economic situation continues to improve, visitor numbers to the Caribbean look set to do the same, with Grenada in particular standing out as the region’s leading island.
While some islands have been over-developed in the face of mass tourism, Grenada has maintained a boutique approach, argues Ray Withers, Chief Executive of investment specialists Property Frontiers, which is known on Grenada for its stunning 5* Cinnamon Suites at Bacolet Bay.
Indeed, that exclusive image is emphasised by the fact that Grenada has just 0.7 per cent of the total beds available in the Caribbean, with less than 2,000 on the island.
“Grenada is definitely the destination of choice for those looking for a more exclusive Caribbean experience,” says Withers. “It blends ultimate luxury with breath-taking scenery to create the perfect level of appeal to tourists who demand nothing but the best.”
The Cinnamon Suites at Bacolet Bay certainly fit with this ethos. Available for investment from £248,500 (25 per cent below independent real estate valuation), the well-appointed hotel accommodation forms part of a leading resort, with financial returns of 10.5 per cent average projected NET yield per annum.