Grenada is the island of spice. It has a tourism-based economy and uses the Eastern Caribbean dollar as its currency. Over the years, the economy of Grenada gradually shifted from being agriculture-based to service-based. Grenada is known to facilitate business opportunities by offering a seamless environment for business setup. Grenada is a developing country and its fastest-growing sectors are tourism and hospitality. The country has a low inflation rate, tax rate as well as low labour costs. Grenada, on the other hand, has high labour productivity and adult literacy rate, making it easier to obtain qualified, skilled  labour in the country.