Barbados seeks competitive edge in luxury goods market”

The government is exploring options to make Barbados more competitive in the sale of luxury goods, as part of its wider economic and tourism strategy, according to Prime Minister Mia Mottley.

She said she has invited the Barbados Chamber of Commerce and Industry (BCCI) to submit recommendations on how to reposition the island as a destination for high-end shopping.

“I’ve invited the private sector—the Chamber of Commerce specifically—to submit to me a paper with respect to luxury goods again,” the Prime Minister said during her address at the opening of the Courts Superstore at W Plaza, Welches, on Thursday.

“Barbados did lose some competitiveness with respect to the sale of luxury goods in this country. It is part and parcel of our tourism brand and part of our value proposition, and we need to claim it back.”

Mottley did not outline any specific measures under consideration but said the matter was being actively reviewed as part of the government’s ongoing efforts to strengthen the island’s retail and investment climate.

The Prime Minister’s remarks come amid increased focus on improving customer service and upgrading commercial infrastructure in key retail zones.

She said developments such as the new Courts Superstore were important to improving the overall consumer experience, but also signalled the administration’s intention to support both mass market and niche retail offerings.

Officials within the business community have previously called for a review of import duties and taxes that affect the sale of high-end items, arguing that they have contributed to a decline in Barbados’ appeal to luxury shoppers.

(SM)