Antigua and Barbuda to utilize $40M investment for expanding yachting sector

Antigua and Barbuda: Antigua and Barbuda aim to utilize significant investment of $40 million for the expansion of yachting sector of the island nation and enhance rich cultural heritage in English Harbour.

With this crucial investment, the administration is making efforts to continue to remain a leading yachting destination in the entire Caribbean region. The government of Antigua and Barbuda approved the budget and aimed to make essential repairs with a vision to expand the yachting facilities. This significant investment is the combination of equity and borrowing, which must be used in an appropriate manner to enhance infrastructural facilities.

Notably, Antigua has always been one of the largest yachting sectors in the Caribbean but still they have always struggled to accommodate the increasing demand of the visitors. Therefore, with the introduction of new facilities and expansion, the yachting sector will address all those issues which are being faced by them in order to help them meet their needs and demands.

The government of the island nation is aiming to create a hub for the artisans to give them a platform to showcase and sell their locally produced goods and services to all the tourists. It will further result in generating huge amount of revenues for those individuals, benefitting economic conditions of the nation.

Along with that, the administration also focuses on creating a cultural park that will offer a unique and vibrant experience to all visitors. It will feature historical reenactments, fostering the vibrant and cultural heritage of Antigua and Barbuda.

PM Gaston Browne emphasised the importance of barracks and the role it plays in history. He stated that it is important to restore these barracks at Nelson’s Dockyard facility which plays a crucial role in preserving the rich cultural heritage and promoting vibrant offerings, leading to boost in tourism sectors.

The leader of the nation further asserted that the administration will make all the possible efforts to address all the uncertainties being faced by the yachting sector in order to bring larger crowd to the nation. He also asserted that in the last season they had to turn away several yachts because of space constraints but they will try to get all those yachts back to the island nation, aiming to enhance tourism sector.

He also noted that it is difficult for states like Antigua and Barbuda to produce goods on a sustainable basis so that’s why they have to look for another method to import goods at a reasonable amount.