The government is encouraging Antiguans and Barbudans to invest in luxury rental properties as part of efforts to expand the country’s high-end tourism sector.
During Thursday’s post-Cabinet press briefing, Chief of Staff Ambassador Lionel Hurst explained, “The cabinet continued its discussions on drawing well-off Antiguan and Barbudan citizens into the profitable hospitality sector.”
According to Hurst, the government plans to allocate ocean-view land to locals specifically for the development of luxury homes that can be rented to visitors. “We want nationals of Antigua and Barbuda, those who have hundreds of thousands of dollars in savings, to think about investing in properties that can yield high returns,” he said.
He also revealed that the government intends to construct sample homes to showcase the standard of development expected. “The sample homes will be funded by either the National Housing Authority or by the central government itself,” Hurst stated. “Once people see what is possible, they may be more inclined to invest.”
Hurst emphasized that the initiative is aimed at encouraging local ownership in the lucrative tourism market. “We want Antiguans and Barbudans to get in on this piece of the action. This doesn’t have to go to foreign direct investment.”
The plan will be a key focus at the upcoming investment conference, where more details on the initiative are expected to be unveiled.
