Info Pack

About Barbados


Population:
279 912
Language: English
Time Zone: GMT - 4
Government: Parliamentary
Coastline: 97 km
Sunshine: Up to 350 days
GDP Growth: 4.1% (2005)


Barbados is the eastern most Island in the Caribbean. It has just celebrated 40 years of independence (1966 - 2006).









List of topics
  • Getting There 
  • Economy
  • History and Politics
  • Investment Potential
  • Passports / Visas
  • Property Purchase
  • Travelling in Barbados
  • Hotels
  • Electricity supply
  • Hours of Business
  • Social Etiquette
  • Legal System
  • View properties
  • Find out more about viewing trips

Getting There
There are flights available daily from London, taking approximately 7 hours 30 minutes. There are also a range of flights available from airports around the UK.

Economy
The local currency in Barbados is the Barbadian Dollar (BBD). The exchange rate is currently 2 BBD to the U.S. Dollar, and has been since 2001.

Historically, the economy of Barbados was almost completely dependant upon sugar cane production along with other forms of agriculture. Over more recent years Barbados has diversified into other sectors such as tourism, construction, manufacturing (clothing, electrical components and rum) and banking to name just a few.

Information services and offshore finance provide important foreign exchange revenue. Tourism has become the country's largest industry, while sugar cane still remains the main export for Barbados.

The Barbadian government has a large focus on reducing levels of unemployment, encouraging direct foreign investment as well as privatising state owned enterprises. The Economy contracted in 2002-2003 mainly due to a decline in tourism rates. Since 2004 however growth has been positive and steady as the economic climate in Europe and the U.S. improved.


History and Politics

Barbados was uninhabited when the English first settled there in 1627. Although, archaeological evidence indicates that prior to this date, the island was in fact inhabited by Arawaks ad Caribs. It has since been discovered that the early settlers from neighbouring islands settled into small colonies in St. Phillip and St. Lucy. In order to survive, they needed cash crops

Investment Potential
The Caribbean is an established investment market, demanding the highest standards in build quality, combined with the best locations, to provide maximum capital return. Barbados is famous for tourism and has been a popular destination for decades.

According to the UN's UNDP, Barbados is the number one developing country in the world. Barbados has one of the highest standards of living and literacy rates in the world. Barbados won a prestigious award at the 2005 World Travel Awards in London, recognizing the island as the Caribbean's leading destination. Barbados is fast becoming a preferred low tax destination for international businesses and the Government is continuing to focus heavily on improving the investment climate of Barbados. Barbados' Kensington Oval will be one of the final venues hosting the 2007 Cricket World Cup. Barbados' major airport, the Sir Grantley Adams International Airport (GAIA)is currently undergoing a US$100 Million upgrade and expansion. Low crime rates combined with a stable government ensure Barbados is as popular with investors as tourists. This island is renowned for high end developments located in stunning Caribbean surroundings.

Property Purchase
Finance is available through many Caribbean banks including the Bank of Trinidad and Tobago. Some banks can lend up to 75%. For more information relating to finance options, please do not hesitate to contact us on 0800 321 32 07 or e-mail us at sales@bgestates.com


Passports / Visas

Travellers from Europe will require an up to date passport and a valid return ticket in order to enter Barbados.

Travelling in Barbados
If you need to travel around the Island, you will have a plethora of options available to you. There are any amount of regulated taxis, bus services, car rentals, boats ranging from catamarans to yachts, bikes and mopeds at your disposal.

The taxis in Barbados are not metered, although the government regulate fixed fairs of around $20 USD per hour. It is always advised that you should agree a fare prior to using a taxi service.

Hotels
You may never have as much choice for accommodation as you are offered in this island paradise. The accommodation is designed to suit every style and taste. These range from the seclusion of the tranquil Inns, to the luxury of five star resort hotels. The diversity on offer is truly amazing giving you the opportunity to stay anywhere from a beach front villa, to a fully inclusive health spa resort.

Electricity supply
The electricity supply is similar to that of the US. They operate on 110volts, at 50 cycles. this means that travellers from Europe will require adaptors and transformers for any mains operated equipment.

Hours of Business
Establishment Days Hours
Banks Mon-Thurs
Fri
08:00-15:00
08:00-17:00
Government Offices Mon-Fri 08:15-16:30
Post Offices Mon-Fri 08:00-15:00
Supermarkets Mon-Thur
Fri
Sat
08:00-16:00
08:00-12:00
08:00-16:00
Shops Mon-Fri
Sat
08:00-18:00
08:00-20:00

Social Etiquette
In relation to tips and gratuities, every country has its own rules. In Barbados, the majority of restaurants will include a percentage in the bill. If it is not already, it is customary to add 10 - 15% for a service charge; although more is certainly accepted at your digression where appropriate.


Bartenders and porters often appreciate a $1USD tip for their services. Another important area for social etiquette is clothing and attire. Like most Caribbean countries, it is seen that beachwear is for the beach alone. When leaving the beach, it is highly recommended that you dress in a suitable casual manner. A shirt with shorts is widely accepted. Some restaurants and hotels in Barbados enforce a smart dress code for evening events.


Legal System

The Barbados legal system is founded in British common law. The Supreme Court of Judicature sits as a high court and court of appeal. The Judiciary is independent and free from political influence.

For further information please contact the British High Commission on the details below.

The British High Commission,
St. Micheal,
Barbados.
britishhc@sunbeach.net
 
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