Nevis News Archives - Page 1132 of 1471 - Nevis Island News and Notes

Nevis Citizens Paying Less For Electricity

Geothermal Energy To Lower Cost Of Electricity Charlestown, Nevis December 16, 2008 The Nevis Island Administration continued to put into action measures to advance the quality of life for the people of Nevis and has announced some good news for …

St. Kitts – Nevis Govt. Remain Positive About Tourism

Ocean Edge Resort, St. Kitts – July 2008 Photo By Erasmus Williams Basseterre, St. Kitts – Nevis December 17, 2008 (CUOPM) Several tourism investment projects which have either been completed, or are under construction or nearing start-up, and are already …

St. Kitts – Nevis Tourism On The Decline

Global Economy Impacts St. Kitts – Nevis Tourism
Photo By Erasmus Williams

Basseterre, St. Kitts – Nevis
December 17, 2008 (CUOPM)

The tourism sector in St. Kitts and Nevis has increasingly become vital to twin-island Federation’s economic growth, but current world economic slowdown and low consumer confidence pose a significant threat to the performance of the local and regional destinations.

Minister of Finance, Dr. the Hon. Timothy Harris presenting the 2009 Budget Address in the St. Kitts and Nevis National Assembly on Tuesday said tourism’s contribution to GDP through visitor expenditure, foreign exchange earnings, foreign direct investment and employment generation is critical to the continued economic and social progress of the Federation.

He disclosed that although stay-over arrivals in 2007 declined by 10.9 percent to reach 125,026 when compared to 140,248 in 2006, total visitor arrivals to St. Kitts registered a slight increase of 8.4 percent because of the continued robust growth in the cruise section of tourist arrivals.

Nevis Library Hosts Christmas Craft Workshop

Nevis Children At Christmas Craft Workshop Charlestown, Nevis December 16, 2008 Tuesday 16 December 2008, saw the commencement of a three-day art and craft workshop for children aged eight to 10 years facilitated by the Nevis Public Library. Librarian at …

Construction Leads St. Kitts – Nevis Economy in 2007

New Homes In St. Kitts – Nevis
Photo By Erasmus Williams

Basseterre, St. Kitts – Nevis
December 16, 2008 (CUOPM)

The economy in St. Kitts and Nevis continued on a path of positive economic growth and development in 2007 with construction leadimg the sectors.

Minister of Finance, Dr. the Hon. Timothy Harris in presenting his first Budget Address in the St. Kitts and Nevis National Assembly said that despite the many challenges the Federation faces, “we have remained committed to the creation of a well-diversified, service-oriented economy.”

Dr. Harris said that the foundation for this transformation was laid in the years prior to the closure of the sugar industry in 2005 as considerable investment was made in the Non-sugar Agriculture, Tourism, Information Technology and Financial Services Sectors.

“These sectors have since been clearly identified in our National Adaptation Strategy as the pillars on which this new economy will be built. Indeed this is credible evidence of the foresight of this Government in recognizing quite early that in light of continued trade liberalization and threats of global economic and financial turmoil our economy would have had to undergo significant change and become more competitive,” said the Minister of Finance.

Dr. Harris said the results are illustrated in the positive macro-economic position and improvement in the standard of living of the citizens of St. Kitts and Nevis.

He added that notwithstanding the negative impacts of exogenous factors such as rising oil prices and the threat of a slowing world economy, St. Kitts and Nevis has continued on a path of growth, recording an expansion rate in real GDP of 2.9% in 2007.