The Commonwealth of Dominica shows Positive Growth in 2023
Roseau, Feb. 07, 2023 (GLOBE NEWSWIRE) -- The Commonwealth of Dominica’s growth numbers in its tourism sector are another reason why investors should consider in the island nation.
Discover Dominica, the tourism office for the nation, reported a significant increase in 2022 tourism arrival numbers, projecting even stronger growth in 2023. “We are still working toward recovery as we are not yet back to pre-pandemic numbers, but we are in a good place as we begin 2023 with strong bookings throughout the winter travel season. In 2023, Dominica remains focused on its sustainability efforts, an increasingly popular selling point of the island,” said Colin Piper, the CEO of Discover Dominica.
In 2022, Dominica welcomed 60 704 visitors as compared to 14 888 visitors in 2021, indicating a 308 percent increase. Contributing factors to this growth include relaxed COVID protocols, increasing demand for post-pandemic travel, the announcement that as of 4 February 2023, American Airlines will be operating four flights weekly to the country, and the country’s recognition as the top Caribbean destination by international travel publishers.
American Airlines celebrated the anniversary of their nonstop service from Miami International Airport to Dominica in December 2022. Piper added that “the addition of the American Airlines flight had a significant impact on our tourism arrivals. It has never been faster or easier for US visitors to travel to and from Dominica. It is also a valuable addition for the diaspora community.” These nonstop flights have created more accessibility to the island, throughout 2023 services will continue with changes to their schedules and frequency.
Dominica’s Tourism Minister Denise Charles made a statement during an interview, “On February 4, we will have four flights weekly, so far we are seeing that the bookings for June are sitting at about 60 percent, so if we get to about 80 percent, we definitely will have a strong case for daily flights.” Charles further explained that every three to six months, American Airlines and other regional airlines will assess their flight schedules to compensate for the demand of the island tourists and needs, she advised that “Therefore, what we have to work together with the private sector, stakeholders, the accommodation sector, tour operators, taxi, and the media to promote our destination daily.”
Last year was a historic moment for the island as there were repeat visitors and new visitors to the Caribbean Island due to the demand for exciting travel experiences that are on the rise. Dominica has also just opened its sustainable luxury resort, Coulibri Ridge and achieved its first in-person World Creole Music Festival.
Dominica was also recognised as a top travel destination by some of the world’s most notable publications - Travel + Leisure’s World’s Best Awards named Dominica as the number one island in the Caribbean, Bermuda, and the Bahamas list of 2022. Lonely Planet named Dominica as one of the top international destinations for leisure in their ‘Best in Travel’ list for 2023. In addition, Forbes featured the island as one of the top destinations for travel to in 2023. These awards are testament that Dominica is a sound investment opportunity throughout 2023 and beyond.
Not only is the island considered a top destination thanks to its tranquil beaches and breathtaking views, but there are also endless opportunities for entrepreneurs in the travel and tourism, and hospitality industries.
These entrepreneurs can gain the coveted citizenship of Dominica by investing in its Citizenship by Investment programme.
Investors can either invest via the Economic Diversification Fund or purchase approved real-estate.
The Economic Diversification Fund is a government fund that supports socio-economic initiatives in Dominica and for only US$100 000.00 a single investor can become Dominica’s success story.
Under the real estate option, applicants are required to purchase government-approved property. This must be held for a minimum of three years.
Investors can choose from the below international and local brands:
The Residences at Secret Bay, named as Travel and Leisure’s No #1 Resort in the Caribbean, Bermuda, and The Bahamas for 2022, is one of the most deluxe offerings in Dominica.
Jungle Bay is a nature-inspired luxury escape. When purchasing a Jungle Bay Villa, investors can choose to have the villa managed and marketed by the hotel. This offers investors hassle-free maintenance with no out-of-pocket cost to owners. Jungle Bay has also been ranked by TripAdvisor as the top hotel in Dominica and the third-best hotel in the Caribbean.
Tranquility Beach Resort – Curio – A Collection by Hilton is an authorised citizenship by investment project that celebrates privacy and individuality as the hallmarks of these nearly completed fully-serviced premium vacation villas and residences.
The Cabrits Resort & Spa Kempinski Dominica is a five-star resort located within one of Dominica's pristine national parks, only 34kms from the airport, with a secluded spa, four restaurants and bars, an art centre, two tennis courts, four swimming pools, a gym, a high-tech conference centre, and a wedding hall.
Launched in 1993, Dominica’s Citizenship by Investment programme has been ranked as the number one CBI initiative for six consecutive years by the CBI Index. This is a ranking system published by the Financial Times’s Professional Wealth Management (PWM) magazine.
Dominica’s citizenship programme focuses on the overall quality and integrity of its applicants, as it only accepts individuals of outstanding character and repute. To ensure credible persons of excellent standing are granted citizenship, comprehensive due diligence checks are performed on all applicants over 16 years of age.
For those who meet Dominica’s citizenship requirements, the idyllic Caribbean island offers one of the best standards of living in the region. Dominica is politically and economically stable, with a low crime rate and rich investment opportunities.
The country also offers increased global mobility and access to many countries worldwide, with physical proximity to the North American markets for those with business interests. Successful applicants maintain the right to hold dual citizenship and citizenship can be passed on to future generations.
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