Real Estate
T
THE GAME CHANGERS
here are three very large areas of busi-
ness in which Grenada features no-
where at present. They are massive, un-
related game changers which would transform
this island’s economy. The authorities assure
me that they are giving each one of these mar-
kets ‘every possible encouragement.’ And so
they should; but the proof will be in the pud-
ding and I, for one, relish the prospect of any
one of these markets coming about. What is
unquestionable is that entering any one of
these fields of business will put this island
in a different league and will make investors
(current and future) very happy campers.
THE MEDICAL TOURISM MARKET
This is a market that has been estimated at
between US$ 45.5 to US$ 72 billion dollars as
at 2017, consisting of 14-16 million cross bor-
der patients worldwide, spending around US$
3,800 to US$ 6,000 per visit, as reported in
2017 by Patients Beyond Borders, a key player
in this field (see https://patientsbeyondbor-
ders.com/medical-tourism-statistics-facts).
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By John Albanie
Traditionally, the top destinations have been
India, Malaysia, Thailand, Turkey, Costa Rica,
Mexico, Taiwan, South Korea and Singapore.
The Caribbean has not yet seriously featured
in this market but, with recent improved air-
links, Cuba, the Cayman Islands (Health City)
and St Kitts Nevis have put some markers on
the ground.
Grenada benefits from the presence of a repu-
table international university (St George’s
University) whose support for a Teaching Hos-
pital would provide the focus for a “Medical
Park Facility” involving a medical research
centre, wellness centres, secondary private
medicine clinics and retirement homes. This
is no pie in the sky: it is a detailed business
plan which a group of entrepreneurs have put
together. One of them, Rolf Hoschtialek, a
Grenadian businessman puts it this way:
“ Our proposed Grenada Medical Park Project
contains multiple sub-projects, including a
www.businessgrenada.com
medical tourism hospital and a new national
hospital for the island’s Health Service. A
medical research centre is also planned – en-
abling SGU’s School of Medicine to expand
into post graduate studies. Investors from the
USA have also proposed a rehabilitation clinic
and it is envisaged that care homes for retired
persons, with graduated assistance will also be
built. A health and wellness spa hotel and spe-
cialist clinics (sports, medicine, dentistry and
cosmetic surgery ) will add to the commercial
viability of the project.”
Shown below is a lay-out of the various com-
ponents of the project as located in one of the
sites considered.
THE GOLFING MARKET
The list below shows the number of golf
courses operating or under construction in
the Caribbean. Grenada features nowhere in
that market – it has a 9 hole grazing ground,
supported by some very keen and long-
suffering local golfers. A dear old friend of
mine was one of the founders. He used to
have to round up the goats on the course