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World Travel Guide > Guides > Caribbean > Grenada

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Grenada: Doing business and staying in touch

Doing Business in Grenada

All correspondence and trade literature is in English.

Office Hours

Mon-Thurs 0800-1500; Fri 0800-1700. Government offices are generally open Mon-Fri 0800-1600 but are closed 1200-1300 for lunch.

Economy

Grenada relies on tourism as its main source of foreign exchange, especially after Hurricanes Ivan (2004) and Emily (2005) severely damaged the nutmeg industry, which was previously a key driver of economic growth. The agricultural sector, particularly nutmeg and cocoa cultivation, has recovered from the hurricanes, and the tourism sector has seen substantial increases in foreign direct investment.

Strong performances in construction and manufacturing have contributed to growth in national output but economic growth is expected to slow in 2009 because of the global economic crisis. As a result of Hurricanes Ivan and Emily, Grenada is saddled with debt. Public debt-to-GDP is nearly 110%, leaving the government limited room for social spending. Unemployment stands at 12.5%.
There are 11 hotels offering meeting facilities, seating from 25 to 160 persons. For details, contact Grenada Board of Tourism (see Contact Addresses).

GDP

US$657 million (2008).

Main exports

Nutmeg, bananas, cocoa, fruit and vegetables and mace.

Main imports

Food, manufactured goods, machinery, chemicals and fuel.

Main trading partners

Trinidad & Tobago, The Netherlands, Germany and UK.

Keeping in Touch in Grenada

Telephone

No area codes are in use. Coin and telephone card payphones are available. Telephone cards can be purchased at the offices of Cable & Wireless Grenada and from other agents. International dialling is available from most hotel rooms.

Mobile Phone

Roaming is available to all mobile phones that are TDMA digital network compatible. Contact Cable & Wireless in Grenada for further details. Coverage is variable.

Internet

Internet is widely available throughout Grenada; there are Internet cafes in St George's.

Media

Grenada's media are free, as is stipulated in law. No daily newspapers exist, and weeklies are privately owned and freely criticise the government. All newspapers are in English. They include Grenada Times, Grenada Today and The Grenadian Voice.The Grenada Broadcasting Network, jointly owned by the Caribbean Communications Network and the government, runs Klassic Radio, SUN FM and GBN TV.

Post

The main post office is in St George's (on Lagoon Road).

Post Office hours

Mon-Thurs 0800-1600, Fri 0800-1630 (closed weekends).