$40M budget set for expansion of Antigua Yachting Industry

Antigua and Barbuda: A total of $40 million has been set for the expansion of English Harbour’s Yachting industry in Antigua and Barbuda with an intent to boost the tourism sector. The expansion work will include production of several tourist spots, parks and the fulfillment of the necessary repairs at the site to enhance its efficiecny.

The budget has been approved by the government of Antigua and Barbuda and noted that the allocation will be used for equity and borrowings to support the expansion. In the construction work, the cultural park will be produced to enhance the island’s tourism sector and boost its significance among the yachting-lovers.

Besides this, the rapiring of the barracks will take place at the Nelson’s Dockyard facility in order to provide efficiency to several offerings of the site.

Prime Minister Gaston Browne shed light on several aspects of the project and added that the aim of the government is to grow the tourism sector with the enhancement of the potential of the island in the yachting industry.

Notably, Antigua and Barbuda are known one of the leading yachting destinations in the Caribbean region with its promosing position among the tourists worldwide. However, there is still a need of the improvement as the tourist arrivals are not up to the mark despite its presence among the visitors.

The yachting indsutry of the island nation has been expereiencing saturation due to the insufficient facilities and the lack of the proper tourist attractions on the site. The entire has led to the turning away of numerous yacts that were at some point of time attracted to Antigua and Barbuda.

Prime Minister Browne added that the tourism sector is significant aspect to drive the economy in Antigua and the wider Caribbean and they will work for its further enhancement. He added that several industries from airlift to yacht are significant in driving tourism economy and driversification of the financial aspects of the country.

He added that for the states like Antigua and Barbuda, it is difficult to produce goods ona sustainable basis, so they have to find different paths in order to import those goods at a reasonable price.