Citizens at home and abroad were invited to reflect on St. Lucia’s economic recovery and expanding private and community investment since 2021. Addressing the nation on Tuesday evening, Deputy Prime Minister and Minister for Tourism, Investment, Creative Industries, Culture and Information, Dr. Ernest Hilaire, outlined what he described as a period of renewed confidence and strengthened growth under the leadership of Prime Minister Philip J. Pierre.
Dr. Hilaire recalled that in July 2021 the country was ranked among the weakest-performing economies in the region, even before the pandemic. “On July 26, 2021, the nation chose to step boldly into the future with a clarion call to put people first,” he said. He credited the government’s focus on fiscal stability, investor confidence and protecting vulnerable households for what he described as the country’s economic rebound.
According to the Minister, St. Lucia recorded GDP growth of 3.3 percent in 2023 and 4.7 percent in 2024. He reported that the public debt-to-GDP ratio has been reduced from over 90 percent to approximately 74 percent, calling it a significant achievement given global inflation, uncertainty and supply chain pressures.
Much of the recovery, he noted, has been driven by tourism, with total investment in the sector estimated at EC $7.4 billion between 2021 and October 2025. He stated that the sector has generated employment for more than 23,000 citizens, and emphasized that 78.8 percent of those investment dollars came from Saint Lucians themselves. He also highlighted the work of the Community Tourism Agency, which has supported 25 small businesses across accommodation, food and recreation through grant financing, with another 10 projects advancing.
Dr. Hilaire provided updates on ongoing major developments, including the A’ila Resort and Spa at Gros Islet, the Dreams Resort in Canelles, the expansion of Baron’s Foods in Vieux Fort, the recommencement of work on the Courtyard by Marriott hotel at Point Seraphine, and upgrades to cruise facilities under Global Ports Holdings. He also pointed to the new Rodney Bay City Centre project, the expansion of KM2 Solutions, and new business processing and hospitality investments in Soufrière and Anse La Raye that are expected to create additional employment.
The Minister stated that unemployment has fallen to just over 10 percent, which he identified as the lowest level in a decade. He also described the introduction of St. Lucia’s first national minimum wage as a milestone aimed at improving fairness and stability for workers.
Looking ahead, Dr. Hilaire said the government has secured a new wave of large-scale private investments, including the Marquis Estate regenerative development, the Harbour Club expansion, the Cote de Rêve project in Black Bay, the Grand Hyatt in Choiseul, three proposed five-star hotels at Reduit Beach, and the Selene luxury hotel at Vieux Fort. He added that the government is exploring new industries in regulated wellness products, logistics and renewable energy.
Dr. Hilaire stated that the government’s investment strategy is focused on ensuring that growth benefits ordinary citizens. “Each investment is not solely about a financial return,” he said. “It helps families find work, gives young people hope, funds education and ensures healthcare is accessible.”
He concluded by calling for continued partnership among government, businesses and communities in what he described as the next phase of St. Lucia’s development. “The best investment we can ever make is in St. Lucia herself,” he said.
