BASSETERRE, ST. KITTS, FEBRUARY 2ND, 2018 (PRESS SEC) — Robust construction activities in St. Kitts-Nevis will help to drive growth in the country’s economy in 2018, Prime Minister Dr. the Honourable Timothy Harris said yesterday, Thursday, February 1st, 2018, at his press conference.
Prime Minister Harris reported that the Radisson Hotel is expected to have the grand opening of its first phase in 2018. The Koi Resort & Residences and the Ramada “will all cue up during the course of this year for a grand opening,” the Prime Minister of St. Kitts and Nevis also said, adding that “a major hotel shall start phase one of its construction in West Basseterre before the end of this month.”
The Honourable Prime Minister said, “All of these developments mean plenty of jobs for our people, higher earning potential and money multiplying throughout the economy. The St. Kitts and Nevis which we have the honour to govern and administer is a well sought after destination for investment, for education, for research, for work, for residence, and holidaying.”
Prime Minister Harris added, “The question to be asked is, ‘Why such great confidence by discerning people in St. Kitts and Nevis?’ and the answer in part is that our country is being excellently managed.”
The Prime Minister of St. Kitts and Nevis went on to report that luxury hotels are showing “keen interest” in operating in St. Kitts and Nevis, later noting, “In a matter of weeks, I shall be able to say definitively which are the three luxury hotel resorts which are seeking us out.”
Prime Minister Harris went on to note that, “…you will be delighted – as all of us in the Cabinet are – to know that one of the three luxury hotel brands is the Ritz-Carlton.”
The 125-suite luxury Ritz-Carlton resort with 25 branded villas and residences will be located on the picturesque southeast peninsula of the island of St. Kitts, facing the Caribbean Sea. In 2017, the five-star luxury Park Hyatt St. Kitts – the first Park Hyatt hotel in the Caribbean – opened its doors on the southeast peninsula.
Prime Minister Harris reported that the Ritz-Carlton would see the creation of over 300 new jobs when construction starts later this year. In 2017, construction services grew by 9 percent in spite of the economic disruption and setback caused by two Category 5 Hurricanes. For 2017, the economy grew by 2.6 percent to reach $1.86 billion at year’s end.
This excellent record to date compares well in contrast with the first three years of the last term of the previous administration, which – according to the International Monetary Fund – recorded negative growth rates in 2010, 2011, 2012 of -3.8, -1.9, and -0.9 percent, respectively (see IMF press release No.14/138 dated March 27, 2014). http://www.imf.org/en/news/