Saint Lucia’s agreement with Global Ports Holding (GPH) is being sold as a landmark for our tourism sector. But beneath the glossy headlines and ribbon-cutting ceremonies lies a hard question: Did we trade too much for too little?
What the Deal Really Is
In 2022, the government signed a 30-year concession with GPH, with the option to extend for another 10 years. Under this agreement, GPH will manage cruise operations at Port Castries, Bananes Bay, and Soufrière.
The terms:
US$135 million investment in port upgrades.
US$17 million debt settlement on behalf of SLASPA.
The ability to host mega cruise ships, which could bring more visitors.
Sounds promising—on paper.
The Price Tag Nobody Talks About
Here’s where things get controversial. Under the concession, SLASPA will receive US$1 per cruise passenger for the first seven years, increasing to US$1.50 per passenger afterward. Compare that to the US$6.50 per passenger the island used to collect.
That’s a massive drop. And when you multiply this difference across millions of cruise passengers over decades, it means Saint Lucia is giving up tens of millions of dollars in revenue. Money that could have been reinvested directly into healthcare, education, infrastructure, and jobs for locals.
Who Wins, Who Loses?
GPH Wins Big: They gain control of our most valuable cruise assets for 30–40 years, pocket the lion’s share of revenues, and expand their global footprint.
Government Wins Short Term: They clear debt, cut a ribbon on a $135 million project, and point to “progress.”
Saint Lucians May Lose Long Term: We risk becoming spectators while foreign investors control the cash flow from one of our island’s most important tourism gateways.
The Community Factor
At Bananes Bay, families are being displaced to make way for redevelopment. Promises of “fair compensation” are on the table, but history tells us locals often get the short end of the stick in such projects.
So modernization comes, yes—but it’s ordinary Saint Lucians who bear the hidden costs.
The Bottom Line
This isn’t about whether the ports should be modernized—they should. It’s about the terms of the deal. Was a US$1 per passenger rate really the best we could negotiate? Why was transparency so lacking? And how do we justify a foreign company reaping profits for four decades while our people settle for crumbs?
Modernization is not free. But the burning question is: Did Saint Lucia strike a deal for the future, or did we just sell it off too cheaply?
👉 Over to you, readers: Do you see this as a smart long-term investment, or are we setting ourselves up to pay too high a price for progress?