Economy
The Bajan economy customarily relied on sugar production
but persistently low world market prices forced the government to
promote economic diversification. Most effort has concentrated on
tourism, which is now the largest employer on the
island and continues to show balanced growth. Cotton,
plants and flowers are being developed
as export products. New light industrial developments, such as electronic
components, have fared less well, mainly as a result of falling
demand in the United States of America, the principal export market.
Barbados' other important industry is oil. 2 3rds
of offshore output is exported, with the remainder allocated for
domestic consumption. Exploration activities have been intensified
since the mid 1990's. In the service sector, Barbados has developed
an offshore financial industry
that now accounts for 15 % of Gross Domestic Products. Barbados
receives some overseas aid from British and United States sources
and is a member of the Caribbean economic community, CARICOM, which
has boosted regional trade.
The island has a high quality transport and communications
infrastructure, which should assist future economic development.
The main trading partners are the United States of America, United
Kingdom and the other CARICOM nations.
Business
Light weight tropical suits and shirt and tie are advised for business
wear. European courtesies should be followed.
General office hours are Monday to Friday
8.00 am to 4.00 pm.
Commercial
Information
The following associations can offer advice:
Barbados Chamber of Commerce and Industry
Address: 1st Floor, Nemwil House, Collymore Rock, St Michael, W1
Telephone: 426 2056 or 0747
Facsimile: 429 2907
Email address: bdscham@caribsurf.com
Website address: www.bdscham.com
Barbados Investment & Development Corporation
Address: PO Box 1250, Pelican House, Princess Alice Highway, Bridgetown
Telephone: 427 5350
Facsimile: 426 7802
Email address: bidc@bidc.org
Website address: www.bidc.com
Conferences/Conventions
For the business traveller, conference organiser or incentive group,
there are several hotels with conference and meeting facilities.
There is also a variety of conference centres, the newest being
the Sherbourne Conference Centre. Located 3 kilometres
(2 miles) from Bridgetown, it is adjacent to the main highway linking
the south and west coast. The centre is fully air conditioned and
equipped to handle meetings, seminars, international conferences,
trade shows and exhibitions.
Restaurants and cafe facilities are available to seat 120 and 300
persons respectively. For further information,
please contact:
Barbados Conference Services Ltd
Address: Sherbourne Conference Centre, Two Mile Hill, St Michael
Telephone: 467 8200
Facsimile: 431 9795
Email address: sales@bcslbarbados.com
Website address: www.bcslbarbados.com |
