Surging from an economy almost entirely dependent\u00a0on producing agricultural commodities for exportation\u00a0to a much more modernized and diversified one, the\u00a0country\u2019s growth is a shock to the world.<\/p>\n
For many\u00a0years, the country depended on the exportation of\u00a0cocoa, bananas, and nutmeg to various countries but\u00a0the fluctuation in the prices of their exported goods,\u00a0natural disasters, and the threatened removal of the\u00a0preferred trading agreement contrived the government\u00a0to seek various ways to expand the Island\u2019s economic\u00a0base.<\/p>\n
Grenada\u2019s metamorphosis from a country that\u00a0solely depended on agriculture alone to a country with\u00a0a manufacturing sector, a financial service sector, and a\u00a0tourist sector is admirable.\u00a0Meanwhile, Covid-19 has had a limited impact on the\u00a0health of Grenada\u2019s population.<\/p>\n
The government closed\u00a0the country to international commercial traffic between\u00a0March and August 2020. These initial measures kept the\u00a0number of cases under control but by the time the local airport reopened, there had been a total of 24 cases of\u00a0Covid-19 reported. Opening the borders were required\u00a0to support tourism, which accounts for 80% of the\u00a0exports of the country and 57% of its economy.<\/p>\n
This\u00a0decision led to a substantial increase in the number of\u00a0cases in December 2020. The economic impacts of the\u00a0virus have been devastating. To tackle the impact of the\u00a0pandemic in 2020, the government rolled out an emergency relief program worth 2% of the country’s GDP\u00a0equivalent to USD 23, 000, 000. Some of the measures\u00a0included payroll support, expansion of government\u00a0employment programs, deferred tax collection, and\u00a0increased health care expenditure.<\/p>\n
According to the Century 21 Grenada Real Estate Report\u00a02017, the Grenadian real estate market has been improving since 2012 and is projected to continue growing into\u00a02017. In 2016 the country\u2019s real estate market saw a\u00a0nearly 23% increase from 2015. Even so, Grenada remains\u00a0a buyer\u2019s market with its affordable real estate.<\/p>\n
Since the introduction of the Grenada Citizenship by\u00a0Investment Program in 2013, Grenada has seen a tremendous boost in its real estate market. Investors looking to\u00a0invest in luxury, have dual citizenship, a holiday house, or\u00a0property to retire have added Grenada to their luxury\u00a0property portfolio. Its real estate market is diverse; there\u00a0are various properties on the market, ranging from\u00a0luxury villas and modern apartments to historical plantation homes.<\/p>\n","protected":false},"excerpt":{"rendered":"
Surging from an economy almost entirely dependent\u00a0on producing agricultural commodities for exportation\u00a0to a much more modernized and diversified one, the\u00a0country\u2019s growth is a shock to the world. For many\u00a0years, the country depended on the exportation of\u00a0cocoa, bananas, and nutmeg to various countries but\u00a0the fluctuation in the prices of their exported goods,\u00a0natural disasters, and the threatened […]<\/p>\n","protected":false},"author":1,"featured_media":659,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-travel"],"yoast_head":"\n