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• Agriculture
• Manufacturing
• Tourism
• Information Processing (ICT)
• Sector-Specific Opportunities

Agriculture
 

Agriculture, which traditionally produces bananas, cocoa, nutmegs, and mace for export, has to been the mainstay of the economy. The sector has a large subsistence agricultural sector producing fruits, vegetables and livestock for the domestic, regional and internal markets. Banana exports have made a valuable contribution to the economic and social development of the country having benefited from preferential trading arrangements with the UK. Cocoa and nutmeg have been traded on the open market and invariably have been subjected to the vagaries of the external market forces. Grenada is the largest producer of nutmegs in the hemisphere and as one of the two major nutmeg producers, the other being Indonesia, has benefited enormously in period of high demand and/or limited supply.

Manufacturing
 

The manufacturing sector in Grenada is small but has grown significantly in recent years largely due to Government encouragement in the form of attractive incentives comprising tax exemptions and other facilities. The sector comprises activities such as the manufacture of soft drinks, beer, malt, stout, rum, wheat flour, animal feed, garments, paper products, paints and varnishes. Major export markets for manufactured exports are mainly UK, USA and the Caribbean countries.

Tourism

In recent times there has been substantial foreign direct investment in new hotel plants mainly in the southern tourism belt of the island.

There are substantial opportunities in the Grenada tourist industry given the country’s resource endowment ;a new cruise ship terminal, an increase in the number of flights to the island and the promotion of Grenada as a safe and peaceful destination for visitors and investors alike. The best prospects for investment are in the area of eco-tourism, up-market hotel plants, health tourism, villa tourism and tourism related services such yachting & marina development, sports, cultural and recreational activities.

Information Processing (ICT)

Telecommunication services are considered to be the main engine of growth in the Grenada economy for the medium term. Given the country’s English speaking population, it proximity to the US mainland, time zone affinity and excellent telecommunication network, the best prospects for investment in this sector in the provision of export services utilizing computers exclusively to process information and create value, such as - Software development and associated services, data processing, claims processing, order fulfillment operations, telephone and direct mail sales, computer aided design geographic information services, electronic publishing, voice center operations, remote secretarial services, customer and technical support services, indexing and abstracting services, research and technical writing services.

Sector-Specific Opportunities