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Last updated : Nov 2009
 
Barbados Business
Barbados Business Overview - TravelPuppy.com
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