The Caribbean region has been experiencing an economic rise over the last decade or so. This is one of the reasons why it is being considered as a hotspot for global investors.
The island nations in the West Indies hold so much promise when it comes to business opportunities. Antigua, for example, has increasing potential for development. With its abundant natural beauty, ideal weather, friendly locals, and the second citizenship by investment program it offers, a lot of small and medium-sized enterprises or SMEs can quickly rise and enjoy great success.
Plus, the business scene is not highly saturated yet. Many long-existing business concepts and models still have to be introduced to Antigua. There is also a receptive market for innovative operations. So, if you are looking to explore a new path by establishing a business, or simply growing your wealth, Antigua is a prime location for it.
Most of the business opportunities exist as part of the fast-rising international tourism sector. In the last years, the growth of visitors to the island has been a double digit percentage increase and the supply of many products and services has not matched this growth.
Profitable Businesses to Launch in Antigua
There are certain kinds of businesses that are likely to thrive in Antigua, due either to scarcity or popularity. Here are seven great examples:
1. Bed and Breakfast
Although there are a lot of accommodations in Antigua such as hotels and apartment rentals, there do not seem to be a lot of bed and breakfasts or B&Bs yet. However, the few that do exist manage to attract a lot of tourists.
It is often said that people like B&Bs because not only do they fall beautifully between a hotel and a rental accommodation, but they also offer great value for money. On top of that, bed and breakfasts exude charming luxury and warm hospitality.
Another advantage of B&Bs is their optimally convenient setup. Breakfast is covered to get guests off to a good start for their day of exploring the location. B&B owners are quite helpful in setting up arrangements for travel and sight-seeing. Best of all, guests come back at the end of a day to a beautiful place that feels like home.
This is a fantastic business venture, especially for expats who possess Antigua citizenship, are retired, and want to turn meeting new people from different parts of the world into a solid income-generator.
2. Sailing School
Sailing is one of the most popular water sports in Antigua, and a lot of tourists come here to sail. Likewise, this is a sport that the ever-growing expat community of the island nation gets into.
Starting a sailing school is an excellent way to advocate for the sport and support those who want to participate in it. Sailing is something that you can learn if you are a boat owner, you become an expert at sailing, and you are able to teach. Alternatively, you can hire local experts to use your boat so they can educate sports enthusiasts and the people who have moved to Antigua and accepted that sailing is a way of life in the island nation.
3. Art Gallery and Dealership
The Caribbean region is known all over the world for its talented, home-grown artists. You have painters, novelists and artisans keeping the creative community alive.
One concern is that these local artists may not always have a competitive platform upon which to showcase their work. This is why entrepreneurs who are also big art fans are often the owners of elegant galleries on the island. With their global mindset, they get to introduce local art to the international scene.
If you are an art lover, launching an art gallery and dealership can prove to be quite a profitable business (even just as a side one) to consider.
4. Cafe
The Caribbean region is known for growing some of the best coffee beans. This is why a cafe is always a good idea for a business. Plenty of tourists are coffee lovers who are big fans of caffeine concoctions using beans from the region.
A novelty coffee shop can perform exceptionally well in Antigua because most cafes are at the beach and follow the same concept. Take a cue from the cafes in Japan, South Korea, and Taiwan that have unique themes because such establishments are not likely to be found on the island yet.
Novelty is a reliable factor that can draw crowds. Your cafe may net in a more significant share of the coffee-loving market of Antigua.
5. Travel Agency
Again, targeting the flourishing tourism sector of the country is a smart move. Entice travelers from around the world to visit Antigua for a change of scene and pace. You can set up a travel agency and design services that will allow tourists to harness unforgettable experiences of the island.
Make sure that your clients will be treated like complete VIPs. After all, there’s no better way of ensuring success for a travel agency than by creating memorable tours and combining them with top quality services.
6. Private Senior Services
Antigua enjoys a growing population of retirees from developed nations. Therefore, crafting dynamic services that cater specifically to them can become a highly successful business.
Invest in an elegant residential property that can house senior citizens who are looking for a facility where all of their needs can be covered. You may be surprised at how a lot of retirees in the Caribbean are happy to choose a high-class facility to live in, in order to experience all its wonderful amenities and perks.
What’s more, providing private senior services to expat retirees presents locals with new and lucrative job opportunities, tapping the local practice of taking excellent care of elderly family members.
7. Transportation Services
This is probably the most uncomplicated business venture to consider. You can simply purchase a fleet of vehicles to rent out to tourists. Visitors are sure to appreciate car or van rental services that come with a certified professional driver that will allow them to travel in comfort and style and are on-call for sudden trips.
Antigua Is a Prime Location for New Businesses
If you are all about building new businesses to grow wealth or to aid development in communities, set your sights on Antigua. This nation truly is an ideal launchpad, especially for SMEs.
Starting a business here is easy for foreigners through the second citizenship program. There are no special requirements to tender for citizens other than the donation to the government or the purchase of a property, and the processing time is much shorter. You do not even have to visit Antigua or establish residency. If you work with a specialist in this program, expect your second citizenship to be granted in just a few months.
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