Barbados Travel Guide - Business

• GDP: US$3 billion (2005 estimate).
• Main exports: Cotton, flowers, plants, rum, sugar, molasses and oil.
• Main imports: Consumer goods, machinery, food, chemicals and construction materials.
• Main trade partners: Exports to: UK, USA, Trinidad & Tobago, St Lucia and Jamaica; Imports from: USA, Trinidad & Tobago, New Zealand, UK and Canada.

The Barbadian economy traditionally 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 steady growth. Cotton, flowers and plants are being developed as export products. New light industrial projects, such as electronic components, have fared less well, mainly as a result of falling demand in the USA – the principal export market.

The island’s other important industry is oil. Two-thirds of offshore output is exported, with the remainder assigned for domestic consumption. Exploration activities have been intensified since the mid 1990s. In the service sector, Barbados has developed an ‘offshore’ financial industry that now accounts for 15% of GDP.

Barbados receives some overseas aid from British and US sources and is a member of the Caribbean economic community, CARICOM, which has boosted regional trade. The island has a good transport and communications infrastructure, which should assist future economic development. Its declared goal is to become the world's smallest developed nation.

Lightweight suits are recommended. European courtesies should be observed.

Office hours: Mon-Fri 0800-1600.

For the business traveller, conference organiser or incentive group, there are a number of hotels with conference and meeting facilities. There is also a selection of conference centres, the newest being the Sherbourne Conference Centre. Centrally located 3km (2 miles) from Bridgetown, the centre is fully air conditioned and equipped to handle seminars, meetings, international conferences, trade shows and exhibitions. The Garden Theatre can seat up to 2,500 people. Restaurants and cafe facilities are available to seat 120 and 300 persons respectively.

Barbados Chamber of Commerce and Industry
1st Floor, Nemwil House, Collymore Rock, St Michael, Barbados
Tel: 426 2056 or 0747.
Website: www.bdscham.com

Barbados Investment & Development Corporation
PO Box 1250, Pelican House, Princess Alice Highway, Bridgetown, Barbados
Tel: 427 5350.
Website: www.bidc.com

Barbados Conference Services Ltd
Sherbourne Conference Centre, Two Mile Hill, St Michael, Barbados
Tel: 467 8200.
Website: www.bcslbarbados.com