by Kareem Smith
Barbados (Barbados Today) – One of this country’s leading real estate moguls is predicting a major boom in high-end visitors, as soon as British tourists get the “green light” to travel.
Managing Director of Altman Real Estate Sir Paul Altman told Barbados TODAY that although many tourism players are currently “tinkering on the brink of insolvency”, market indicators are suggesting that projects like the Barbados Welcome Stamp Initiative have opened the door for a major increase in high net worth long-stay visitors.
“We depend on tourism and once we get the green light out of the United Kingdom which is our main source for tourism traffic, we are going to see people coming here and investing here and holidaying here,” an upbeat Sir Paul declared.
“I think we have to fight our way through this last leg of pain which means getting us through the rest of this year. And then unless there is something else that happens, God forbid, the outlook is very positive.
“The future is that Barbados, first of all, realises that under tourism, we can’t be everything to everyone, so we talk about sustainability. The opportunity is at the higher end of the market because… we want the ones that can afford to come here,” he added.
He explained that during the over 15 months of the pandemic, Barbados has been able to showcase its infrastructure, high quality of life and quality establishments that can attract the high spenders.
