Martinique

There are 12 overseas territories: Guadeloupe, French Guiana, Martinique, Réunion, Mayotte, New Caledonia, French Polynesia, Saint Barthélemy, Saint-Martin, Saint-Pierre and Miquelon, the French Southern and Antarctic Lands, and the Wallis and Futuna islands, which together have almost 2.6 million inhabitants.

Because of its overseas territories, France is the only EU country that is present in three separate oceans. They help consolidate France’s second place worldwide in terms of maritime reach and make a telling contribution to the rollout of the country’s maritime and “blue growth” policies. These territories enshrine the future of energy as they are the “100% renewable energy” forerunners of the energy transition and the promotion of clean transportation.

Roughly halfway between Brazil and the United States of America, Martinique belongs to “Caribbean” area that includes a large number of island territories, as
well as continental territories across the coast from Venezuela to Mexico. Martinique is an associate member of the Association of Caribbean States (ACS) and the Organisation of Eastern Caribbean States (OECS).

Its membership of French national territory and its quality as an outermost region of the European Union enable it to live up to French standards of business – including infrastructures – while also being able to act as a voice of Europe in a dynamic region, admittedly under North American influence, but keen to diversify its partnerships.

A diverse economic network

Martinique’s port infrastructure is ranked seventh in France for traffic and leading airport infrastructure. It’s a rapidly expanding market, representing a real opportunity for national and international investors who are thinking of setting up business in Martinique in priority development sectors.

Boasting a strong production of bananas and sugar cane, the primary sector accounts for 4% of GDP (fishing included).

The secondary sector – which has diversified from its origins in import-substitution – is today dominated by the energy, agri-food and construction sectors (14% of GDP). The tertiary sector (82% of GDP) has growing sectors, such as automotive transport and tourism.

In 2019, two regions of Martinique received the “Territoires d’industrie” accreditation.

All sectors combined, products and services from Martinique have a strong development potential. The agri-food sector centered on the promotion of Martinican gastronomy is a good example of this dynamism. Rum from Martinique is recognised under the “AOC” label, and received many international prizes.

A welcoming business environment

Martinique offers important tools dedicated to entrepreneurs : incubator for innovative projects, business cooperative, incubator, business incubator, coworking space, a network of actors that support entrepreneurs in theur projects, significant financial tools (regional subsidies, European funds honor loans, guarantees etc.).
The island counts 65 areas reserved for the establishment of economic activities.

Ambitions development plans

The Martinique Local Authority Economic Development, Innovation and Internationalization Territory Plan intends to restructure production capability,  focusing on the agrienvironment, sea and tourism, and supporting innovation, as well as new emerging sectors.

In 2020, Martinique’s local authorities will launch a call for Industry 4.0 projects.

Martinique can rely on quality infrastructures, a skilled workforce, public services and knowledge, more advanced than its regional neighbours.

The Aimé Césaire airport of Martinique is 1st in the Caribbean and the 2nd in France to obtain an international award in terms of logistic organization and services.

Tourism due to grow strongly

The increase in the tourism business led to an 18.5% rise in visitor numbers in 2017 (a little over one million visitors), which was the best performance since 1998, with an increase of 40% in the number of cruise passengers (453,364 people). The International airport of Martinique have a capacity of 2.5 million passengers per year.

For Martinique-based businesses, tourism is to be the source of job growth, and work is underway to increase its contribution to GDP to a similar level to that of
the sovereign islands of the Lesser Antilles, where it brings in between 20% and 50% of GDP.

The new consensus on tourism aims to put forward the rich, singular cultural and culinary historical legacy of Martinique, through heightened differentiation and a move upmarket of the destination.

Martinique a land of exception

As a Caribbean islands, Martinique is part of the 35 global biodiversity hotspots. This unique ecosystem shelters many endemic species.

Martinique benefit from an important historical and cultural heritage. Among these 101 historical monuments, the city of Saint-Pierre destroyed during the eruption of Mount Pelée on May 8, 1902, is classified as “city of Art and History”.

Martinique is also the birthplace of very famous writers such as Aimé Césaire, Suzanne Dracius, René Maran, Frantz Fanon, Edouard Glissant or even Joseph Zobel, who marked History by their work and contributed to enrich an exceptional world legacy.

The sporting event tourism is in full expansion, such as the Tour des Yoles of Martinique.

Make Martinique a place to call home : https://us.martinique.org/

Powerful incentive system for investment

Efforts of all the local authorities are being combined to support the attractiveness of Martinique for investment.

Besides access to all state aid for businesses in operation in France, the state offers Martinique special provisions as an overseas territory to make investments tax-exempt, an innovation tax credit and a research tax credit with higher rates than in France, and specific measures to waive social security contributions.

The European Union operational programs are at the height of their convergence objective, with the average level of development of other European territories. Local authorities have appropriated their expertise on economic development and have clarified their objectives and support schemes.

Martinique Développement is the Business France Invest representative in the island that assists international companies wishing to establish themselves in the Martinique by :

• prospecting, hosting, support and monitoring of foreign companies likely to develop new activities in various forms that bring added value and create or safeguard jobs ;
• promoting economic attractiveness ;
• participation in prospecting and support actions for investors.

Préfecture de Martinique
647/648, Rue Louis, Fort-de-France,
97262 Martinique

contact-prefecture@martinique.pref.gouv.fr

Martinique boasts an extensive range of schooling establishments across its territory. Each year, hundreds of Martinican students are formed outside the territory but very few of them come back to the island once graduated. That is why Martinique launched the very first program to help them settle back, and figures out as a pioneer to attract talents abroad.

International school programs

Discover our interactive map : International schools map – Welcome to France

The digital economy is quickly growing in Martinique, which is now part of the French Tech community. This sector knows a significant booming with the emergence of innovative local companies with a strong potential.