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12.9. Over the years, the tourism sector has been adversely affected by natural disasters such as hurricanes and economic shocks in the major tourism source markets. (...)

12.10. Major progress made during the review period include expansion in hotel room stock with the addition of luxury brands and boutique hotels to over 3500 rooms as of December 2019; Green Tourism Initiative to foster efforts in the tourism industry to implement projects/programmes related to energy conservation and use of renewable energy, water conservation, waste disposal practices, recycling, green building practices, customer education, and other conservation practices; Construction of a 5th cruise pier to accommodate the world's largest cruise ships, development of new commercial properties, as well as renovations of Heritage Quay via a public-private partnership with Global Ports Holding (GPH) at an investment of USD 57 million; Enhance the tourism product to leverage international competitiveness to facilitate the development of other varieties of tourism accommodation; Further development and diversification of geographic source markets and niche markets; Transform Barbuda into a Green, Low Density, High-end tourism destination; Develop tourism-related human resources/capabilities and improve worker welfare; Promulgate a tourism master plan and develop a green growth strategy for the tourism sector; Mainstream environmental sustainability and adaptation of the tourism sector to climate change; Accelerate efforts to attract foreign investment to reposition the tourism industry and develop new and emerging industries

13.1. Antigua and Barbuda is a member of the OECS Economic Union guided by the Revised Treaty of Basseterre which was signed on 18 June 2010 during the 51th Meeting of the Authority of Heads of Government of OECS Member States. The Treaty established a single financial and economic space within which goods, people and capital move freely, monetary and fiscal policies are harmonized and countries continue to adopt a common approach to trade, health, education and environment, as well as to sectoral development in agriculture, tourism and energy. (...)

13.9. Since the last OECS trade policy review, many developments have occurred on the multilateral and plurilateral trade agenda, including, but not limited to the entry into force of the Trade Facilitation Agreement (TFA); the conclusion of a Fisheries Subsidies Agreement, albeit with outstanding elements to be negotiated; the launch of several Joint Statement Initiatives (JSIs), namely with respect to (...) Plastics Pollution and Environmentally Sustainable Plastics Trade, Trade and Environmental Sustainability, and Fossil Fuel Subsidy Reform. (...)

14.1. During the period, Antigua and Barbuda was subjected to the devastating impacts of the COVID-19 pandemic, and a series of catastrophic hurricanes and other adverse weather occurrences. This helped to further strain the already limited human and financial resource capacities of the economy. (...)

1.1. As a small island located in the Caribbean, Antigua and Barbuda has an economy that remains highly dependent on imports and vulnerable to natural disasters and other external shocks. (...)

1.11. (...) The Government is committed to enhance its management of other external risks to the overall fiscal situation. Identified challenges include building buffers to future natural disasters, reforming the pension system, channelling investment to climate-resilient infrastructure; and accelerating the shift to renewables. [4] (...)
[4] For instance, a tourist accommodation levy was established in 2021 to collect financial resources for a resilience fund.

2.7. (...) The Government seeks to attract investors in industries creating local jobs, enhancing economic activity, and providing a source for foreign currency. The authorities note their interest in economic diversification, including areas such as the blue economy and education. Sustainability and resilience building regarding climate change, food security, and improved access to finance for small business are also part of the objectives of policymakers. Antigua and Barbuda seeks to develop further the creative industries while sustaining the activities of the tourism sector, its main exporting sector. Recently, there has been push towards renewables as well.

Table 2.1 Major trade-related laws, 2022
Description: Foreign trade
Legislation: (...) Environmental Protection Levy Act 2002 (...)

Table 2.3 Eligibility criteria and incentives offered under the ABIA, 2022
(...)
Category 6 [a]
[a] Sectors identified as eligible for this investment category include the provision of healthcare, tourism, infrastructure development, renewable energy, education, or any similar project related to the economic development of Antigua and Barbuda.