Our comprehensive assessment of Grenada's operating environment and the outlook for its leading sectors are formed by bringing together a wealth of data on global markets that affect Grenada , as well as the latest industry developments that could impact Grenada's industries. This unique integrated approach has given us an impeccable track-record for predicting important shifts in the markets, ensuring you’re aware of the latest market opportunities and risks in Grenada before your competitors.
Grenada Country Risk
Economic growth in Grenada will remain subdued over the next 10 years, and the country will continue to run current account and fiscal deficits. The rise in government debt to around 110% of GDP has resulted in a comprehensive debt restructuring deal with the IMF, the effects of which will weigh on the island's growth prospects over at least the first half of our 10-year forecast period. Consequently, we forecast real GDP growth to average just 1.6% over the next decade.
We believe that Grenada will replace the English Privy Council with the Caribbean Court of Justice (CCJ) as the island nation's final court of appeal. While this will not significantly alter daily operations in Grenada, it is a signal of increased regional integration, a trend that we believe will continue.
Tourism in Grenada will continue to recover over the...
Grenada Industry Coverage (1)
BMI View: The Caribbean region is returning to sustained growth, with all countries expecting tourist arrivals to increase in 2015 and 2016. However, growth is expected to remain below pre-2007 levels, with regional arrivals now increasing at an average of about 3% annually. Nonetheless, we expect that improving growth prospects will encourage greater investment in the region, particularly in the hotel sector.
Our tourism report for the Caribbean considers the impact of ongoing global economic uncertainty on the Caribbean tourism industry and how the region's fiscal issues are affecting tourism arrivals. Following the decline of the financial services industry after the economic downturn hit in 2007, tourism has increased in...