分类： Business

The Antigua and Barbuda Chamber of Commerce welcomed key stakeholders to an exclusive luncheon focused on maximizing trade opportunities under the United Kingdom’s Economic Partnership Agreement (EPA). Held at Goddards Catering Group, the event was co-hosted with the Resident British Commissioner, H.E. John Hamilton, and featured Mr. Lorcan O’Brien, Caribbean Trade Lead at the British High Commission.

Designed to deepen economic ties and equip local businesses with practical knowledge, the session offered timely guidance on accessing duty-free markets in the UK and broader ACP-EU networks.

Key Takeaways

– Unlocking Export Potential

Mr. O’Brien’s presentation delivered clear strategies for navigating preferential tariffs offered to CARIFORUM countries, including how to meet rules-of-origin criteria and secure the necessary EUR1 certificates.

– Strengthening Business Resilience

With rising tariffs from other jurisdictions, UK trade access presents a vital pathway for growth, especially for SMEs seeking diversified markets.

– Supporting Capacity Building

The Chamber’s President, Mario Colindres emphasized the alignment between UK EPA strategies and the Chamber’s Trade diversification outlook, noting plans to integrate compliance training into the Chamber’s Trade framework.

Leadership Perspective

“Today’s discussion offered actionable insights to help our private sector adapt to global shifts,” said Chamber President Mario Colindres. “We are pleased to host these types of fora that empower local exporters to step confidently into international arenas.”

Executive Director, Martin Cave, added, “We see these engagements of bringing technical knowledge to producers; manufacturers; regulators and as many actors in industry together as necessary for the purpose of building capacity.” In doing so we seek to raise our countries profile and to extend our exporting abilities; by pairing strategic dialogue with hands-on tools, we’re ensuring businesses don’t just dream of market expansion—they’re equipped to achieve it.”

The Antigua and Barbuda Chamber of Commerce is committed to fostering sustainable growth, regional collaboration, and private sector leadership through knowledge-sharing, policy advocacy, and inclusive innovation.

An Antiguan hotelier who has held top tier positions at some of the Caribbean’s most esteemed resorts has been unveiled as General Manager of the forthcoming Moon Gate Hotel & Spa.

Trevor McDonald will oversee the 73-suite luxury boutique resort’s daily operations, after guiding it through its opening later this year.

With a genuine passion for service, McDonald’s exacting standards meld seamlessly with Moon Gate’s ‘Gracious Hospitality’ ethos, which emphasises meaningful connections and traditional Caribbean warmth.

The devoted father-of-two brings more than three decades of experience to the post, with several managerial roles under his belt, including at prestigious Jumby Bay, Rex Resorts and Jolly Beach Resort in Antigua, along with Almond Resorts in Barbados and St Lucia.

Born to an Antiguan father and Barbadian mother, McDonald grew up between Antigua and Barbados, studied hospitality management in Florida and describes himself as “proudly Caribbean”.

His interest in Moon Gate was inspired, he says, by the quality and workmanship of its physical structures fast taking shape at Half Moon Bay on Antigua’s east coast, coupled with the passion of its developers Gaye Hechme and Cameron Fraser who are committed to offering guests an authentic Antiguan experience.

“Every guest will enjoy an experience shaped by luxurious standards in service, care and attention to detail within an atmosphere that’s warmly personal and refreshingly relaxed – Gracious Hospitality,” McDonald says.

“Putting that into practice starts now, with the team that we build and nurture. Gracious Hospitality does not simply mean taking care of how we look after our guests but how we look after each other too, with a mutual respect for all, regardless of who you are,” he explains.

“Everything at Moon Gate will be executed with the utmost finesse and elegance. We will be putting the personal touch back into hospitality.”

When he’s not working, McDonald can often be found in his garden, tending to his plants and flowers, surrounded by his five shih tzu dogs. He’s also a keen tennis player and a cricket fan who loves to sharpen his problem-solving skills on the backgammon board.

His profound love for music has given rise to regular travels around the region, such as for the annual St Lucia Jazz & Arts Festival. “For me, the most peaceful time of day is sunset. I love to head down to the beach to relax and watch the sunset, taking my music with me,” he says.

Thirty-one years since his very first day in the industry – one that saw him tasked with scrubbing 200 beach chairs clean – McDonald is galvanised by helping others succeed in the region’s economic mainstay.

“Growing young talent and helping them develop their careers motivates me much more than promotions and high salaries,” McDonald says. “I can name several Antiguans who started on the lowest rungs of the industry and are now in high executive positions; that’s how I gauge my success.

I’m a firm believer that your employees are your most important asset and it’s the team you have around you that makes you successful.”

Meanwhile, Moon Gate’s recruitment process continues. Identifying the right personnel to help raise the bar in Antiguan hospitality is crucial, say Hechme and Fraser.

“On behalf of the Moon Gate team, we’re delighted to extend a warm welcome to Trevor as our new General Manager,” the developers said.

“Our culture thrives on mutual respect, shared ambition, and an unwavering commitment to excellence – and we’re honoured to have him join us. We are excited for what the future holds under his guidance and look forward to making great things happen at Moon Gate Hotel & Spa.”

The adults-only resort offers beautifully appointed accommodation across seven buildings, all just a short stroll from the beach. Facilities include a spa with multiple treatment rooms, swimming pools, an à la carte restaurant serving farm-to-fork cuisine, a lobby piano bar, and a plant-based bistro.

Moon Gate redefines luxury with a focus on wellness, sustainability and meaningful connections – topped off with an invigorating, carefree energy that will enchant visitors from both home and abroad.

“Antigua is quite simply a special place,” McDonald adds. “It offers an ease of life that does not exist anywhere else – and we are looking forward to sharing it with our guests.”

The Antigua and Barbuda Social Security Board’s proposed $75 million investment in the defunct Jolly Beach Resort has ignited debate and deep reflection across the nation.

Critics have raised alarms over transparency and fiduciary risk, while others argue that this bold move could become a pioneering model for how pension funds support national development.

Aside from the political and trust issues, “me nah touch dem,” I am of the view that the proposed investment highlights the challenges of managing pension funds sustainably in Small Island Developing States with limited capital markets.

A Pillar Sector with Fragile Roots

Tourism is the beating heart of the Antigua and Barbuda economy, accounting for over 60% of GDP and thousands of jobs. Yet ironically, relatively few major tourism assets are locally owned.

While foreign investment has brought scale and marketing reach, it has also left Antigua and Barbuda with somewhat limited domestic control over its most vital industry.

The proposed acquisition of Jolly Beach by the Social Security Board offers a rare opportunity to change that.

Reviving Jolly Beach—a once-thriving property that drew thousands of visitors and employed hundreds—presents not just a chance for returns, but also for reclaiming local ownership in the tourism economy. That, however, demands not just ambition, but careful execution.

An Investment Constrained by a Thin Capital Market

Like most Eastern Caribbean nations, Antigua and Barbuda operates within a narrow capital market ecosystem.

Domestic stocks and bonds are limited, real estate investment trusts are virtually non-existent, hence the available pool of diversified, high-return instruments is shallow.

For pension funds with growing liabilities and an aging population, this creates a strategic dilemma: how to find adequate returns in a low-yield, low-liquidity environment?

Global Evidence: Real Estate in Pension Portfolios

Global pension fund practice provides compelling evidence for real estate investments as a strategic asset class.

According to the latest industry data, pension funds worldwide now allocate approximately 10% of their portfolios to real estate investments, with this allocation generating average returns of 8.1% in 2024, outpacing many other asset classes.

The $55.7 trillion global pension fund industry has increasingly recognized real estate as providing both diversification benefits and inflation protection essential for long-term pension obligations.

Leading institutional investors such as CalPERS in California, Canada Pension Plan Investment Board and Fortress Pension Fund in Barbados have demonstrated the strategic value of real estate investments. The key in every successful case? Professional oversight, strategic alignment, and risk management.

The Critical Importance of Cash Flow Matching

Pension Obligations Must Be Met in Cash

A fundamental principle that cannot be overlooked is that pension commitments must ultimately be met through cash payments to beneficiaries.

This creates unique liquidity management challenges that real estate investments must address through careful structuring. Leading pension fund practice emphasizes cash flow matching strategies to ensure liquidity needs are met. As demonstrated by successful implementation at major funds:

• Short-term cash flow matching earmarks the next several years of benefit payments and administrative expenses so plans do not need to sell assets during market downturns to meet liquidity obligations.
• Mature pension plans with negative cash flows (paying out more in benefits than receiving in contributions) must be particularly careful about illiquid investments.

For the Antigua and Barbuda Social Security Board, this means the Jolly Beach investment must be structured to ensure:

1. Predictable cash generation through hotel operations that can contribute to meeting pension obligations.
2. Liquidity buffers maintained separately from the hotel investment to meet short-term benefit payments.
3. Professional cash flow forecasting to match expected hotel returns with projected pension outflows.

The evidence from successful pension fund real estate investments demonstrates several elements:

Professional Hotel Management : Jolly Beach must be operated by an international hotel management company with proven Caribbean experience, measurable performance metrics, and alignment with pension investment objectives.

Comprehensive Risk Framework : Implementation of institutional-grade risk management including stress testing, scenario analysis, and regular performance monitoring against hospitality benchmarks.

Transparent Governance : Public disclosure of all investment terms, performance metrics, and risk management procedures, following international pension fund transparency standards.

Liquidity Management Excellence : Maintenance of adequate liquid reserves, professional cash flow forecasting, and contingency planning for tourism downturns.

Portfolio Integration : Ensuring the hotel investment complements rather than concentrates the overall Social Security portfolio, with appropriate diversification safeguards.

Conclusion: Opportunity Through Excellence

The Social Security Scheme has a duty to protect contributors’ funds. But it also has an opportunity to build long-term wealth and domestic economic resilience. The proposed Jolly Beach investment can serve both ends—but only with institutional-grade governance, professional management, and comprehensive risk management.The evidence from global pension fund practice is clear: real estate can provide essential diversification, inflation protection, and attractive risk-adjusted returns when professionally managed within appropriate risk frameworks. The challenge for Antigua and Barbuda is not whether to invest in real estate, but whether to do so with the same professional standards and risk management practices that have made pension fund real estate investments successful worldwide. The stakes are too high for anything less than excellence. Contributors’ retirement security and the nation’s economic development both depend on getting this right.

Prof. C. Justin Robinson, a Vincentian and UWI graduate, holds a BSc in Management Studies, MSc in Finance and Econometrics, and PhD in Finance. With over 20 years at UWI, he has served in various leadership roles, including Dean and Pro Vice Chancellor, Board for Undergraduate Studies. A Professor of Corporate Finance with extensive research publications, he is actively involved in regional financial institutions and is currently the Principal of The UWI Five Islands Campus in Antigua and Barbuda.