Citizenship by Investment

Antigua and Barbuda has opened its arms to direct investment through its attractive citizenship-by-investment program. The initiative is one of five currently available in the Caribbean region, which are all experiencing a growth in interest by 10 to 30 percent annually. Launched in 2013, Antigua and Barbuda’s initiative now brings in around 10 percent of the country’s revenue. Investors from all over the globe—including large numbers from China, Nigeria, Lebanon and Russia—are showing interest in the nation’s unexplored economic potential. The attractive scheme includes no restrictions on dual citizenship and no tax on worldwide income. The program has had a transformative effect on the country’s nascent real estate and tourism sectors and is seen as a key lever for local infrastructure development.

Tourism

With its secluded bays, 365 pink and white beaches and high safety levels, Antigua and Barbuda’s tourism sector has grown immensely in the last decade. A total of 301,000 arrivals came to the nation’s shores in 2019, and despite recent challenges Antigua and Barbuda is confident that its numbers will surpass this level in 2022. Consisting of two major islands, the nation of less than 1 million relies heavily on its tourism sector, which makes up around 65 percent of its gross domestic product. In June 2022, the country unveiled its Vision 2032 tourism strategy, which looks to reimagine its tourism sector with an emphasis on the export of trained local talent and skillsets and using the sector to kickstart a more diversified and sustainable greater economy.

Culture, Cuisine and Entertainment

Antiguan culture is at the center of every aspect of the island’s rich economy, whether it be the music, festivities and food or the local talent and thriving natural industry. The nation is the largest of the English-speaking Leeward Islands. In terms of cuisine, local dishes stem from the country’s rich cultural heritage, with Creole spices mixing with traditional English staples and inputs from all over the world. It also showcases the country’s significant seafood capacity, with steaming lobsters and fresh oysters piled on restaurant platters across the islands. As the sunniest country in of the Eastern Caribbean islands, the nation’s entertainment is largely found outdoors, including its annual sailing week, yacht show and week-long distinctively national Carnival festival.

Luxury Real Estate

The islands of both Antigua and Barbuda have recently become investment hotspots for wealthy backers seeking to partake in the nation’s upmarket tourism and hospitality sector. Additionally, the island is seeing a sharp rise in the purchasing of luxury homes, causing the price of residences to swell to upwards of $1.8 million. The market has successfully attracted celebrities such as Oprah Winfrey, Giorgio Armani, Richard Branson and Eric Clapton, further highlighting its viability as a home away from home for the elite. Construction of several large real estate ventures are underway, including development of upscale housing at Pearns Point in Antigua and a 10-year redevelopment of the island of Barbuda including luxury resorts, boutique hotels, wellness retreats and organic farms.

Wellness

Following the COVID-19 pandemic, global citizens are putting physical and mental health at the forefront of their recreational pursuits. The global wellness tourism sector is expected to reach $1.02 trillion 2030, a rise in compound annual growth rate of 9.93 percent from 2022. Antigua and Barbuda’s lush rainforest and sun-swept beaches host a variety of mature and experienced wellness assets from spas and fitness centers to eco-friendly venues and tours. In 2019, the Antigua and Barbuda Tourism Authority committed to increasing the destination’s presence in the global wellness sector alongside the Wellness Tourism Association. The initiative aims to coordinate and support all shareholders in the sector, including agro-processors and farmers, restaurants, excursion operators, fitness consultants and preventative medical care specialists to provide a healthier and safer environment for all prospective clients.