Citez Grenada Ltd is highlighting the growing global importance of Tourism Special Economic Zones following the release of a new UN Tourism and World Free Zones Organisation report, “Rethinking Investable Destinations: An Approach to Tourism Special Economic Zones (TSEZs),” presented during the 12th World Free Zones Organisation World Congress in Panama.
The report comes at a timely moment for Grenada and the wider Eastern Caribbean as countries explore new ways to attract investment, diversify tourism, support culture-based enterprise and build more competitive investment destinations.
Cory Zufelt, Founder of Citez Grenada Ltd, participated in the World FZO Congress panel “Anchoring Tourism and Culture in the Knowledge Economy,” alongside international leaders including Peter Janech, Coordinator of Education, Innovation and Investments at UN Tourism; Liriola Pitti, Executive Director of AEI Panama; and Juan Carlos Abud, Minister of Economic Development of Jujuy, Argentina. The panel was moderated by Juliana Villegas Restrepo, Director of International Promotion and Business Development at Araújo Ibarra Consultores en Negocios Internacionales.
The discussion focused on how tourism is no longer measured only by visitor arrivals, but increasingly by its ability to generate investment, innovation, cultural exports, skilled employment, digital services, local enterprise growth and long-term national competitiveness.
Citez Grenada Ltd is currently working with UN Tourism to support the development of a proposed 100+ acre Eastern Caribbean economic development project, designed to explore how tourism, culture, digital trade, workforce development, investment facilitation, and local business participation can be integrated into a modern zone-based model.
According to Zufelt, the global conversation around Tourism SEZs is directly relevant to the Caribbean’s future. “Tourism can no longer be seen only as a visitor economy. For small island states like Grenada, tourism must become a platform for investment, knowledge economy, business creation, skills development, digital services and export growth. The opportunity is to move from simply attracting visitors to building systems that allow visitors, investors, founders, diaspora members and local businesses to participate in the economy in a deeper way.”
Citez believes that Grenada has the potential to become a regional leader in this emerging model if the country moves early to modernise its economic zone framework and align policy with investment, digital infrastructure and workforce development.
The newly released UN Tourism and WFZO report identifies Tourism SEZs as part of the next generation of zone development, where competitiveness is based not only on tax incentives, but on the quality of the ecosystem, including governance, infrastructure, investor facilitation, environmental stewardship, community inclusion, and strong links to the wider economy.
Zufelt noted that Grenada’s advantage is not only its natural beauty, but its ability to combine business tourism, digital platforms, culture, safety, lifestyle, talent, diaspora connections and strategic location into a more investable national platform. “Grenada already has an emotional attraction. People love the country. The question now is how we convert that attraction into long-term value. How do we turn a visitor into an investor, a cultural experience into an export, a local product into a global brand, and a tourism destination into a knowledge economy platform?”
The proposed model is designed to be private-sector-led while creating direct linkages for workers, entrepreneurs, suppliers, cultural practitioners, SMEs and diaspora investors.
Citez believes the opportunity before Grenada is significant. Across the world, countries are using zone-based tools to attract capital, improve investment readiness, build infrastructure, support tourism diversification, and create new engines of employment. With the right policy framework, Grenada can position itself as a first mover in the Eastern Caribbean.
“This is a moment for Grenada to be bold but strategic,” added Zufelt. “The world is now looking at Tourism SEZs as platforms for sustainable investment and broader economic transformation. Grenada has the culture, the people, the location, and the brand but it must act fast. What is needed now is the framework to organise that opportunity.”
Citez Grenada Ltd
About Citez Grenada Ltd
Citez Grenada Ltd is a Grenadian-owned economic development company focused on building platforms for trade, investment, business services, migration, workforce development, digital onboarding, tourism, culture, and future-ready industries. The company is part of the wider Citez Global platform and is focused on helping position the Eastern Caribbean as strategic connectors for business, investment, tourism, culture, innovation, and sustainable development.
About UN Tourism
UN Tourism is the United Nations specialised agency responsible for promoting responsible, sustainable, and universally accessible tourism. It serves as a global forum for tourism policy and a practical source of tourism knowledge for governments, destinations, investors, and industry stakeholders.
About the World Free Zones Organisation
The World Free Zones Organisation is an international organisation for free zones, special economic zones, and industrial parks, supporting global cooperation, knowledge sharing, policy dialogue, and best practices for zones as catalysts for sustainable economic growth.
