A recent report released by the United Nations’ Economic
Commission of Latin America (ECLAC) announced Dominica’s GDP rose by 9% in 2019.
The reason for this jump is its burgeoning Tourism and Citizenship by
Investment Program, declaring Dominica to be the fastest growing Economy in all
of Latin America and the Caribbean Region.
A growing trend of global citizenship is leading many high
net worth applicants gravitating towards a Caribbean Passport. Compared to all
other Caribbean countries, Dominica allows a minimum contribution of just
$100,000 to Govt’s Economic Diversification Fund (EDF) or investment in
approved real estate i.e. luxury hotels and boutique resorts. This investment
is crucial in fuelling the constructive developmental projects in public sector,
which in turn, is integral in propelling the ecotourism in the country. Owing to
the ongoing construction activities, stress on resilient natural resources and
ecotourism, the nation is competing with the international market. Cruise ship
arrivals and stopovers in Dominica have increased 7 and 3 times respectively.
Considering the devastation in Hurricane in September 2017, achieving this
growth in a short span becomes even more stellar!
The foreign exchange accumulated through Citizenship by
Investment fund is utilized to sponsor major nationwide developmental projects
including sustainable housing, roads, civic amenities, international airports,
geothermal plant etc. Investors’ contribution through Dominica’s CBI is leading
to an overall long term sustainable growth which has contributed in stabilizing
the economy promising a great future for the country.
ECLAC also reports that the notable growth in Eastern
Caribbean Currency Union (ECCU) activities, primarily in Dominica has a very
robust effect on the economy of the Caribbean region leading to a GDP growth across
ECCU driven areas. The reports further says that the “robust performance of the
tourism sector, as well as the Citizenship by Investment (CBI) programs and
public sector-fuelled construction activity, were primary drivers of ECCU-wide
GDP growth in 2019,".
Dominica’s Citizenship by Investment Program (CBI) is
considered to be the world’s best with reliable due diligence and a good number
of visa-free travel, which attracts individual and families of high net worth
To know further
about Dominica Citizenship by Investment Program click here.