On Tuesday evening, the Minister for Tourism, Investment, Creative Industries, Culture and Information, Dr Ernest Hilaire, addressed the nation ahead of the upcoming general elections.
Hilaire, who is also the member of Parliament for Castries South and the Deputy Prime Minister, said he would “reflect on our remarkable achievements in attracting private investment since July 2021”.
He added that he would also highlight what projects are in the pipeline.
“In every generation, there comes a time when the nation must choose whether to remain comfortable in the familiar or to step boldly into the future. For Saint Lucia, that time was on July 26, 2021, and you decided to set boldly into the future with the clarion call to put people first,” Hilaire said.
“Over the past four years, our country has emerged from global disruption, stronger, more confident, more resilient and more determined than ever to chart its own path to sustainable prosperity. At the heart of this transformation there has been investment.”
Hilaire went on to say that Prime Minister Philip J. Pierre had pursued a deliberate strategy to restore investor confidence while protecting fiscal stability to ensure the future of the people.
“Following a 3.3% GDP growth in 2023, we experienced another year of growth with GDP rising 4.7% last year. Government has also reduced the public debt to GDP ratio from over 90% to roughly 74% in 2024,” he pointed out.
The improvement in the economy post-COVID 19, he posited, had been driven by the recovery of the tourism sector.
“We have modernised our legislative and incentives framework, providing greater impetus for economic growth. From 2021 to October 2025, total investment in the tourism sector reached EC$7.4 billion, generating employment for 23,000 citizens,” Hilaire said.
The accommodation sector accounted for about 80.7% of total investment, followed by land-based transportation at 20.8%.
Additionally, certification and incentive programmes to promote the vacation rental sector, including Airbnb, had also contributed to these improvements.
“I’m pleased to report on the continued success of the community tourism agency in advancing the growth of small, micro and medium enterprises within our tourism sector,” Hilaire said, disclosing that to date, 25 loan grants have been disbursed, representing a total investment of $3.4 million in the accommodation, food and beverage and recreation sub-sectors.
He also underscored the investments in festivals and events, such as the Saint Lucia Jazz & Arts Festival, Creole Heritage Month, Emancipation and the Saint Lucia Carnival.
“These cultural celebrations have been safeguarded in a significant way, creating opportunities for thriving local businesses and encouraging broad community participation across both the public and private sectors,” he said.
The minister then went on to highlight major investment initiatives.
Among them are the construction of the A’ila Resorts & Spa at Morne Pimard Gros Islet, which is underway, recommencement of the Dreams Resorts in Cannelles, Baron Foods new production facility in Vieux Fort, the expansion and enhancement of Port Castries by GPH, the Rodney Bay city centre and the expansion by KM2 at the Orange Grove plaza in Bois D’orange.
Hilaire also explained that work on the Marriott Courtyard at Pointe Seraphine would resume in the new year, after a long pause and following discussions by the government with investors.
“At its very core, investment must improve the lives of our people and under this government it is doing just that,” he said.
“This Government has been able to close and secure additional private investments that will cement our growing economy well into the next decade.”
These upcoming investments, he indicated, includes a mixed use development at Maquis Estate in Babonneau, the expansion by Harbor Club into luxury residences, Cote De Rev in Black Bay, Vieux Fort, Selene Hotel at Vigie, the Grand Hyatt in Choiseul and three separate 5-star hotels under the Blue Diamond Hotel and Resorts brand at Reduit.
“Each investment, every dollar spent, every deal closed is not solely about their return, but holds a responsibility and a greater promise. It helps families find work, gives young people hope, funds education that reaches all and ensures healthcare is accessible for everyone. The next chapter of our investment renaissance is about partnership between government, business, and communities,” Hilaire said.
