Barbados has once again been recognized as one of the leading offshore jurisdictions in FDI Intelligence’s latest list on Caribbean & Central American Countries of the Future 2011/12 which ranked the country as 4th overall.
FDI Intelligence is a special division of the Financial Times that focuses specifically on foreign direct investment worldwide. Foreign direct investment is the major driver of economic growth and accounts for half of all international investments made. FDI Intelligence is a leader at offering insight into the industry.
The Barbados offshore performance was a strong one with the country making its way onto most of the Top 10 category lists out of the group of 31 countries judged.
Barbados ranked 4th on the Best Human Resources list highlighting its strong education system that includes free access to university and college, extremely high literacy rates and the high overall quality of the labour force. Strong human resources is one of the key features that attracts international businesses to the island’s shores as these businesses can be setup professionally by qualified attorneys on the island, run by skilled management and audited by world class firms without the foreign owners having to break a sweat worrying about HR issues related to the important expansion.
The island also ranked 4th for Best Quality of Life highlighting its high living standards as related to high life expectancy, low infant mortality, low crime and high GDP per capita indicating that it is one of the top countries to live in.
The efforts by the Government of Barbados and the private sector in promoting the jurisdiction’s attractiveness as a center for investment were also acknowledged as it placed 5th on the Best FDI Strategy list. Considerable efforts are being made to provide international stakeholders with information about the great benefits of setting up their international business on the island.
Barbados also ranked 7th for Best Infrastructure with a high internet usage rate, a developed mainline telephone system, high use of mobile phones, the number of international destinations served and ports. The island has a well developed high tech infrastructure that makes it a perfect hub for conducting international business and its airport offers direct flights to and from the major cities in the western world.
The country also received a 10th place ranking for Best Business Friendliness which measured such factors as the ease of doing business, the number of days to start a business, number of trade agreements as well as low corruption.
The Overall rank of 4th place out of 31 countries in the Caribbean and Central American region for foreign direct investment once again highlights Barbados’ offshore attractiveness as a first class destination for international business. The Caribbean and Central America feature many strong foreign direct investment jurisdictions and the island’s top ranking against competing destinations proves that it continues to be a leader in the international business sector.