Grenada to funnel over $5 million into tourist development

Grenada’s government will earmark $5.5 million next year for tourist development, one of the main revenue sources for this tiny island nation of the Eastern Caribbean, the country’s Minister of Finance Anthony Boatswain announced.

Out of that total money granted to the sector, $3.3 million will be devoted to promotion and marketing efforts, while the remainder of that lump sum will be handed over to the Ministry of Tourism to cover risks shared with the aviation industry.

According to Mr. Boatswain, the cabinet is committed to the sector’s growth for the major role it plays in the creation of jobs.

In order to expand tourism, Grenada has signed agreements with three international airlines whereby larger numbers of foreign visitors will travel to the island nation.

The local administration also weighs its chances of streamlining the country’s hotel stock, an endeavor that takes an $8.9 million slice off the annual budget.

Cruise tourism –a modality that has gained momentum in recent years- will also get a new lease on life with the building of a terminal in the capital’s harbor scheduled to be fully operational next year.