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Get to Know About Grenada
Grenada is an island country in the West Indies in the Caribbean Sea. The state, as a whole consists of seven islands that occupy a combined area of 348.5 square kilometers. Grenada has an estimated population of 112,200.
Tourism is the major industry in Grenada, followed by agriculture. It is one of the largest producers of cloves, cinnamon, mace, and nutmeg. The country has a high HDI of 0.772; however, it still has poverty in rural areas. Anyway, the per capita income of $16,604 (high for the region) and the literacy rate of 98.6% show that there are good opportunities in the country. Thus, there is a lot of potential for you if you are looking forward to doing business in Grenada.
Grenada, being a popular tourist destination could be a haven for you if you have a business idea concerning the industry. The sector is mostly growing, and the development of water transportation has contributed to that. Nevertheless, there is a huge competition. The corporate tax rate is 30%. The living cost is high, as you would expect in every country in the Caribbean.
There still are some challenges for investors in Grenada. For example, the climate. For example, the 2004 Ivan Hurricane has a very adverse effect on Grenada blowing away most of the resources. The World Bank places Grenada 147 among 190 economies in its ease of doing business index ranking.