Saint Lucia: Philip J Pierre secures investment for tourism shares developments

The Prime Minister of Saint Lucia, Philip J Pierre, has announced the investment of $340 Million in the country’s tourism sector. The Prime Minister closed the debate on the Appropriation Bill 2023-24. After the discussion, PM Pierre urged the country’s people to support the government in reviving the economy. In his address, the prime minister shared that they approved forty-five [35] projects for tourism incentives in 2022. 

The government, led by PM Pierre, seeks to capitalize on the demand for the country’s tourism products. According to, the Prime Minister secured a private sector investment worth XCD 340 Million for the sector. In line with this, Sandals Resorts International has also expanded its Halcyon property. Meanwhile, four international hotel and resort brands have decided to invest and build in Saint Lucia. 

The resorts in question are:

• Grand Hyatt by TTS Resorts Ltd
• Dreams Resort Spa and Zoetry Wellness & Spa Resorts
• Courtyard Marriott
• Lucian by Bespoke Hotel

The Prime Minister highlighted in his debate that after the construction of the projects, the room capacity of Saint Lucia would increase by 206 hotel rooms. The structure will help the country in increasing tourism opportunities. The investment that PM Philip J Pierre has secured in the sector will increase employment opportunities for the country’s people. 

The Prime Minister also shared that the economy of Saint Lucia is among the best performing in ECCU. The government of Saint Lucia has allocated millions of dollars to public assistance programmes. The Saint Lucian government has also given funds to fight inflation in the country. The government has also funded a fully activated Youth Economy Agency and MSME Loan Grant Facility.

Compared to the initial years, the business confidence of the people has increased significantly. The economy is also functioning well under the administration of Prime Minister Philip J Pierre. The unemployment rates of the country are currently at the lowest in ten years. Moreover, the country has witnessed a GDP growth of