The purpose of this research is to collect information on various aspects of St. Kitts, including the natural and social features, the political and economic situation, the commercial and investment conditions and the investment-related laws of the nation. Based on these data, we conduct an in-depth analysis to search for local investment niches, which are appropriate for Taiwanese businesses.
St. Kitts has a territory of 269 square kilometers and a population of around 47,000. The local people are mainly Black Africans by race. Because of the colonial tradition, sugar production plays a critical role in the local economy, although in recent years it has been replaced by tourism. The tourists of St. Kitts mainly come from several rich and advanced Western countries, including the U.S., the U.K., Canada and certain other European countries.
Although affected by the impact of the terrorist attacks in the U.S., which caused the international tourism market to plunge at the beginning of the 21st century, the market has gradually recovered since 2004. Moreover, the economy of St. Kitts has benefited from the global recovery, too, registering a 4% GDP growth rate in that year. In 2004, the average per capita income of the country was US$7,696. On the other hand, to further develop local tourism, many large-scale international hotels/resorts have decided to operate in the country, including the famous Marriott Resort and the Four Seasons Resort.
In a way that is similar to other Caribbean nations, St. Kitts has tried hard to reform its economy from labor-intensive agriculture to a capitalintensive leisure industry. In addition to improving local physical conditions, the government has worked hard on the policy side to build up a friendly environment to attract inward investment from overseas. In practice, the policy has provided the beneficial tariff conditions and taxation, and the investor has even been given the chance to obtain a St. Kitts p
