The Caribbean real estate market floundered a bit in the 1990's. However, despite a growth slow-down in the beginning of the decade, the economy in general experienced better growth towards the end of the decade and continued after the turn of the century. This resulted in a moderate public debt factor that was approximately 50% of the GDP, despite a fiscal policy that was quite expansionary in nature.
Grenada has an open yet small economy that is primarily tourism-based. Over the past couple of decades, the economy has shifted from one that was agriculturally-based to one that is now services-based. Additionally, the tourism industry has emerged as the leading generator of the foreign revenues sector of this economy. Nutmeg (along with mace) is the leading export, as Grenada ranks second to Indonesia as the leading producer of the world's nutmeg supply.
The manufacturing sector of the economy, on a smaller scale, is the economy's secondary revenue generator with the emphasis on the following aspects:
• beverage and foodstuff production
• electronic component assembly
• textile manufacturing
Hurricane Ivan was a minor setback to the economy in 2004 which witnessed an impact on the Grenada property market as well. However recovery has been fairly moderate and as of 2008, Bacolet Bay is now considered to be one of the primary emerging Caribbean property market. Grenada property values pale in comparison to their neighbors Barbados, St Lucia, and St. Vincent due in part to the fact that luxury properties to invest in are in short supply.
If you've been searching for high-quality property that will eventually benefit from an equally high demand, consider Bacolet Bay as the best investment in one of the newer Caribbean property markets. Transcending the concept of a luxury lifestyle, property in Bacolet Bay offers the investor the ultimate opportunity for financial gain as well as a sanctuary nestled within the Caribbean's renowned spice island.
With tourism growth being predicted at a 5.5% increase rate over the next 6 years and with the government continually investing in campaigns to promote the island as a viable vacation destination, it stands to reason that the property market overall should benefit from an increasing influx of property investors as well as tourists. Despite a 65% predicted occupancy rate of the islands current resorts, 2007 witnessed an occupancy rate of 89% overall, based primarily on a shortage of luxury properties in general.
So why should a person consider investing in luxury property in the Caribbean, especially where Bacolet Bay is concerned? Taking capital growth, demand factors, and rental property yields into consideration, Bacolet Bay equates to a win-win-win scenario for the heady investor. This is especially true when you look at the Bacolet Bay Resort and Spa. Currently, there are roughly 20 resorts in the area that can be classified as four-star establishments, and very few that make the five-star grade. So capital growth where this luxury resort is concerned should realize a 10% annual yield.
Anita Choudhary has been freelancing and writing on numerous areas for over 4 years. She provides professional copywriting and editing services. To know more, please look up http://www.webseowriter.com
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