Date: 2016-08-12

Business in the Caribbean Part 3 - Haiti is Open for Business

Taylor Hill

It has been 5 years since Haiti was struck with one of the worst earthquakes in recent times. The country has been trying to bounce back from the devastation and finally the government is saying Haiti is open for business. Foreign investment is a major focus right now for Haiti, as its aid from around the world is starting to dry up. Many international investors are expressing great interest in Haiti, specifically in the telecommunications, manufacturing, and beverage industries.

One of the latest signs of Haiti’s recovery and rebirth is the opening of a Marriott hotel outside of the capital city of Port-au-Prince. Hopes are that the opening of the hotel will boost the tourism and business travel in the country, pulling in revenues needed to stabilize the Haitian economy. Tourism is a key industry that the Haitian government hopes will bring improvements to infrastructure in rural areas of the country.

The opening of the Marriott hotel is a signal to international companies that there are ample business opportunities available in Haiti. The hotel will hopefully allow for more successful business travel within the country and entice international enterprises to set up shop in Haiti.

One of the challenges for Haiti right now, especially in the tourism industry, is to get foreign businesses and investors to look past some of the obstacles, such as riots that have taken place recently. Things do seem to be turning around now in Haiti’s economy, which will hopefully attract investment from international companies. School participation is now at 90%, up from 78% before the earthquake, and the percentage of the Haitian population living in extreme poverty has decreased by 7%.

The future for Haiti seems to be brightening, and hopefully the economic progress and rebuilding of the country will help draw in more international investors and aid in stabilizing the Haitian economy. As for right now, there are signs that Haiti has the potential to be an attractive international business destination, with many opportunities for growth.

 

Previous: Business in the Caribbean Part 4- Fishing and Logistics Industries in the Caribbean
Next: Business in the Caribbean Part 2 - Business and Trade in Cuba

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