In the World Bank’s rankings for ease of doing business, the Saint Lucia rates among the highest developing countries. The 2019 Economic Freedom Index ranks the country fourth among 32 countries in the Americas (behind Canada, the United States of America and Chile) with an
overall score above the regional and world averages. Saint Lucia has comparative advantages in the areas of regulation, market access, incentives, transport infrastructure and quality of life.
Located in the Eastern Caribbean, Saint Lucia not only enjoys relative proximity to both the regional and nearshore markets of North America, South America, and CARICOM member states but is also only an 8-hour flight to Europe; 4 hours from New York, and 2 hours from Miami.
Saint Lucia has been consistent as one of the freest economies in the Caribbean, ranking second place with an index of 70% in the 2016 Economic Freedom Index. Politically speaking, the island is considered “free” according to the 2015 Freedom House report, which also highlighted constitutional guarantees regarding freedom of speech, assembly, and association.
Mobility & Travel
In 2019, Saint Lucian citizens enjoy visa-free or visa on arrival access to over one hundred and forty-five (145) countries including those in Europe's Schengen area. The country's passport ranks 31st in the world according to the Henley Passport Index and Global Mobility Report 2019. Saint Lucia is easily accessible via several airline carriers including British Airways, American Airlines, Virgin Atlantic and Air Canada with direct flights from the USA, Canada, and the United Kingdom.
Saint Lucia has an efficient telecommunications system, reliable electricity, and a stable water supply that is also affordable. Moreover, with modern air and seaport facilities, Saint Lucia’s interconnected structural elements provide a supportive framework for many investment opportunities.
Saint Lucia possesses a vibrant, dynamic, English-speaking labour force that can be easily trained to meet the employment needs of businesses. This is supported by an additional 300, 000 labour pool as nationals from parties to the Organisation of Eastern Caribbean States (OECS) Economic Union arrangements can move freely within the OECS region.
Saint Lucia has an abundance of bio-diversity related resources that are used in a variety of ways including in traditional and herbal medicines. The Government of Saint Lucia has recognized the contribution of its indigenous plant and animal species to human, social and economic development and therefore encourages investment in that area including in the development of homeopathic applications and nutraceutical products.
Saint Lucia has comparative advantages in the areas of regulation, starting a business, market access, incentives, transport infrastructure and quality of life.
Location of the Future
US-based Site Selection Magazine in July 2015 identified Saint Lucia as one of the countries outside the United States, where companies will locate within the next five to ten years from now. The Magazine cited a population with a burgeoning middle class; political and economic stability; an industrious, well-educated workforce; and quality foundational infrastructure as some of the considerations for investing in Saint Lucia over other islands.
Caribbean Country of the Future
Saint Lucia in July 2015 was regarded by FDI Magazine as one of the successful investment locations within the Caribbean and Central America. The island was ranked as one of the winners of fDi Magazine's the Caribbean and Central American Countries of the Future for 2015/16 for FDI Strategy and Cost-Effectiveness of Doing Business.
Citizenship by Investment
Saint Lucia’s Citizenship by Investment Programme, established in January 2016 is a new framework under which Saint Lucian citizenship can be obtained following a quantum of investment in one of four (4) of programs. A number of real estate ventures have thus far been announced under this program.