Yes, Canadian billionaires love to invest overseas. A Vancouver Sun newspaper article for May 7th, 2008, helpfully buried in the back pages of the business section - gives us a chart of where money skimmed for workers and resources goes. 36 billion to Barbados, another 19 billion to the low tax haven of Ireland. Another 17 billion dollars off-shore to Bermuda, and almost 14 billion to the Bahamas. It’s not like the rich are building productive factories there. They just want to get the money out of the country, away from the government of the people.
Thirty-six billion ($36,000,000,000) from Canada alone! The 2008 GDP of Barbados is estimated to be $5.466 billion, and that includes fees for looking after the huge Canadian investment. More data can be found at Statistics Canada 2008:
The total direct investment in Barbados, Bermuda and Cayman Islands increased to $86.5 billion. In the past few years, Canadian investors have directed growing amounts to these countries.
Canadian investment increased from $32 billion in 2007 to $45 billion in 2008.
Here is a document that compares the Canadian investment to the economies of the offshore tax havens.
A big question is what degree of influence does this money wield in Barbados?