The Saint Lucia Chamber of Commerce, Industry and Agriculture participated in a virtual meeting with representatives of the International Monetary Fund (IMF) as part of the IMF's 2026 Annual Staff Visit to Saint Lucia. The engagement formed part of the IMF's consultations with key stakeholders to assess the country's economic developments, outlook, and policy priorities.
Representing a cross-section of the private sector, Chamber members provided candid insights into the current business climate, highlighting both opportunities and challenges affecting economic growth and competitiveness.
A significant portion of the discussion focused on the tourism sector, where members noted that while the industry continues to recover, several segments remain under pressure. Hoteliers reported contracting source markets, particularly due to a decline in visitor arrivals from the United Kingdom, while overall tourism performance has yet to surpass 2019 pre-pandemic levels. Members also pointed to declining activity within the yachting sector, underscoring the need for targeted strategies to strengthen this important niche market.
Labour availability also emerged as a key concern. Members highlighted persistent shortages of skilled and technical workers across several industries, noting that workforce constraints continue to limit business expansion and service delivery. The Chamber emphasized the need for a comprehensive migration policy that could encourage the return of skilled members of the Saint Lucian diaspora while also facilitating the recruitment of qualified regional labour where necessary. Participants further stressed the importance of reviewing the Tourism Development Act to ensure that it remains responsive to the evolving needs of the sector and supports future investment.
The discussion also examined the impact of global economic developments on local businesses. Chamber members noted that higher international oil prices have contributed to increased electricity and utilitycosts, placing additional financial pressure on businesses and affecting profitability.
Members further discussed the importance of expanding renewable energy opportunities to improve energy security and reduce operatingcosts over the long term. While recognizing ongoing efforts in the energy transition, participants highlighted existing regulatory limitations and emphasized the need for policies that encourage greater private sector participation in renewable energy investment, particularly in the context of increasing global energy prices and climate-related vulnerabilities.
The Chamber welcomed the opportunity to engage directly withthe IMF team and reaffirmed its commitment to constructive dialogue on policiesthat strengthen Saint Lucia's economic resilience, improve the investmentclimate, and support sustainable private sector growth.
The IMF Staff Visit forms part of the Fund's ongoingengagement with Saint Lucia and contributes to its assessment of the country'smacroeconomic conditions and future economic prospects.
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