The Dominican Republic has become one of the best Caribbean island destinations for retirement, and the North coast has a large population of expats from all over the world. Most residential communities offer property management services and also rental service, and Dominicans are very friendly, helpful people. This makes the island a perfect place to go on vacation or purchase your own house or vacation villa.
REGIONSCaribbean & Central American Countries of the FutureCaribbean & CentralAmerican Countries ofthe Future 2011/12WinnersCosta Rica has been awarded fDi’s Caribbean & CentralAmerican Country of the Future 2011/12. The DominicanRepublic claimed second position, followed by Trinidad andTobago in third. Jacqueline Walls reports on the winners26 www.fDiIntelligence.com October/November 2007 August/September 2011
REGIONS Caribbean & Central American Countries of the Future C osta Rica has climbed from sec- tion, fDi Markets has indicated that ond position to be ranked as Panama is on its way to attract more the most attractive country in FDI projects in 2011 than in 2010. As the Caribbean & Central America for a result, Panama was awarded the foreign direct investment. title of the Best Caribbean & Central Costa Rica’s dominance in this American Country of the Future for year’s ranking is no surprise given its Economic Potential 2011/12. The successful record in attracting FDI country also topped the category for into the country. According to fDi Best Infrastructure. arkets, Costa Rica has been the M Trinidad and Tobago, and number one destination country in Barbados made an appearance in the the region in terms of FDI project top 10 Caribbean & Central American numbers since 2003. Countries of the future, ranking in third and fourth place, respectively. Project winner Trinidad and Tobago displayed Costa Rica attracted a total of 227 FDI strong economic potential, ranking projects between 2003 and 2010 com- fifth in this category, coupled with pared with only 178 FDI projects invest- obtaining second position in the Cost ing in Panama, Costa Rica’s closest Effectiveness category, whereas competitor in the region. However, the Barbados was placed in the top five of latest figures released by fDiMarkets t he categories: Best Human have shown that from January to May Resources, Best FDI Strategy and Best 2011, Panama has, so far, attracted for Quality of Life. more FDI projects than Costa Rica. Costa Rica topped the category Puerto Rico is business friendly Best Human Resources, as well as Other winners include El Salvador, ranking in the top two for Best ranked as the most cost-effective Economic Potential, Best for Business country in the region; British Virgin Friendliness and Best FDI Strategy. Islands, which knocked Turks and The Dominican Republic was Caicos off the top spot to rank as the ranked second overall in the biennial country with the best quality of life; ranking of countries across the and Puerto Rico was awarded the region. fDi’s independent judging title of the best country in the panel perceived the Dominican Caribbean & Central American Republic to have the Best FDI Strategy. region for business friendliness in Despite only ranking in fifth posi- the 2011/12 ranking. Caribbean & Central American Countries of the Future 2011/12: Overall RANK country 1 Costa Rica 2 Dominican Republic 3 Trinidad and Tobago 4 Barbados 5 Panama 6 Antigua and Barbuda 7 British Virgin Islands 8 Turks and Caicos Islands 9 El Salvador 10 JamaicaOctober/November2011August/September 2007 www.fDiIntelligence.com 27
REGIONSCaribbean & Central American Countries of the FutureBest Economic Potential Best Infrastructure MOST INWARD FDI PROJECTSRANK country RANK country1 Panama 1 Panama COSTA RICA2 Costa Rica 2 Antigua and Barbuda3 Turks and Caicos Islands 3 Puerto Rico PANAMA4 Bermuda 4 Dominican Republic PUERTO RICO5 Trinidad and Tobago 5 Jamaica6 Guatemala 6 Bermuda DOMINICAN REP7 Honduras 7 Barbados8 Nicaragua 8 Costa Rica GUATEMALA9 Dominican Republic 9 Curacao 0 2 4 6 8 1010 Aruba 10 Trinidad and Tobago ScoreBest Business Friendliness Best for Quality of Life GDP PPP, PER CAPITA 2010RANK country RANK country1 Puerto Rico 1 British Virgin Islands BERMUDA2 Costa Rica 2 Bermuda3 Guadeloupe 3 Cayman Islands US VIRGIN ISLANDS4 Panama 4 Barbados CAYMAN ISLANDS5 Saint Lucia 5 Antigua and Barbuda6 Martinique 6 Turks and Caicos Islands MARTINIQUE7 Guatemala 7 Trinidad and Tobago8 Dominican Republic 8 Aruba BRITISH VIRGIN ISLANDS9 Grenada 9 Costa Rica 0 2 4 6 8 1010 Barbados 10 US Virgin Islands ScoreBest FDI Strategy Best Human Resources INTERNET USERS, PER CAPITARANK country RANK country1 Dominican Republic 1 Costa Rica BERMUDA2 Costa Rica 2 British Virgin Islands3 Bahamas 3 Grenada SAINT LUCIA4 Jamaica 4 Barbados SAINT VINCENT AND THE GRENADINES5 Barbados 5 Dominican Republic6 Antigua and Barbuda 6 Panama ANTIGUA AND BARBUDA7 Trinidad and Tobago 7 El Salvador8 Saint Vincent and the Grenadines 8 Antigua and Barbuda BARBADOS9 Grenada 9 Saint Kitts and Nevis 0 2 4 6 8 1010 Nicaragua 10 Jamaica ScoreBest Cost Effectiveness COMPANIES IN HIGH-TECHRANK country MANUFACTURING (2011)1 El Salvador2 Trinidad and Tobago PUERTO RICO3 Saint Vincent and the Grenadines COSTA RICA4 Dominican Republic5 Belize GUATEMALA6 Montserrat DOMINICAN REP7 Saint Lucia8 Dominica PANAMA9 Guatemala 0 2 4 6 8 1010 Curacao Score TOTAL TAX RATE, % OF PROFIT TRINIDAD AND TOBAGO BELIZE SAINT LUCIA EL SALVADOR DOMINICA 0 2 4 6 8 10 Score28 www.fDiIntelligence.com October/November 2007 August/September 2011
REGIONS Caribbean & Central American Countries of the FutureJUDGING NOTES fDi Markets is the only the only online tool to benchmark the investment Benchmark, fDi Atlas and fDi Reports.PANEL online database tracking crossborder greenfield attractiveness of countries and cities in more than 55 fDi Intelligence com- piled most of the data for Alfredo Coutiño investment covering all sec- sectors. Its comprehensive the Caribbean & Central director, Latin America, tors and countries world- location data series covers American Countries of the Moody’s Analytics wide. It provides real-time the main cost and quality Future ranking with the monitoring of investment competitiveness indicators exception of the FDI projects, capital investment for more than 350 locations Strategy. For this category and job creation with pow- around the world. information was submitted John Bowers erful tools to track and pro- The fDi Intelligence by individual countries and owner, file companies investing division now consists of: fDi scored by fDi’s independ- Bowers Consulting overseas. fDi Benchmark is Magazine, fDi Markets, fDi ent judging panel. Methodology organised under six catego- about their promotion strat- Jacqueline Walls senior investment fDi’s Countries of the ries: Economic Potential, egy and this was judged and analyst, Future shortlists are cre- Human Resources, Cost scored by the independent fDi Intelligence ated by an independent col- Effectiveness, Quality of judging panel. lection of data by the fDi Life, Infrastructure, and Countries scored up to a Intelligence division across Business Friendliness. maximum of 10 points 31 Caribbean & Central A seventh FDI Strategy under each criterion, which American countries. category was added; 17 was weighted by importance This information was countries submitted details to give the overall scores. JUDGING CRITERIA • Number of universities • Secondary enrolment rate manufacturing • Number of companies in high-tech Economic potential • Tertiary enrolment rate services • Population • Number of International Baccalaureate • Number of companies in the • Population growth rate schools knowledge-based sector • Unemployment rate • School life expectancy • Growth of high-tech manufacturing • Gross domestic product (GDP) growth • Education expenditure firms • GDP by purchasing power parity (PPP), (Information collected by fDi Benchmark) • Growth of high-tech services firms per capita • Growth of knowledge-based firms • GDP PPP, per capita forecast Quality of life • Overall growth in companies 2008 to 11 • Labour force • Life expectancy • Overall growth in the number of • Number of outward FDI projects • Infant mortality companies • Number of inward FDI projects • GDP PPP, per capita • Growth in the number of outward FDI • Unemployment rate • Perception of corruption projects • Secondary enrolment rate • Change in the perception of corruption • Growth in the number of inward FDI • Crime • Number of trade agreements projects (Information collected by fDi Benchmark) (Information collected by fDi Benchmark) • Number of mega FDI projects by capital expenditure Infrastructure FDI Promotion Strategy • Number of mega FDI projects by jobs • Internet users, per capita • Number of staff dedicated to promoting • Investor signals • Telephone mainlines and facilitating inward investment, and • Growth in imports • Growth in telephone mainlines systems or programmes in place to train • Growth in exports • Mobile phone subscribers, per capita staff and measure performance, both (Information collected by fDi Benchmark) • Growth in mobile phone subscribers individually and organisation-wide. • Number of international destinations • Key initiatives implemented to attract Cost effectiveness served more investment. • Cost of registering property • Increase in the number of international • Information on high-growth sectors/ • Cost of dealing with construction destinations sub-sectors that offer potential for permits • Number of ports • Total tax rate, percentage of profit (Information collected by fDi Benchmark) inward investment. • Office costs • Description of incentives available to • Minimum wage Business friendliness inward investors. • Room rate for four-star hotel • Number of jobs created by FDI • Major infrastructure and urban planning • Cost to export • Growth in the number of jobs created projects. (Information collected by fDi Benchmark) by FDI • The vision for achieving the location’s • Number of days to start a business full FDI potential and why it is a location Human resources • Firing costs of the future. • Labour force • Ease of doing business index (Information provided by cities and judged • Literacy rate • Number of companies in high-tech by our judging panel)October/November2011August/September 2007 www.fDiIntelligence.com 29