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For some time, St. Lucia has been touted as the Caribbean’s next “It” destination, and the high-end development under way and the infusion of foreign investment indicates a major turning point for the islalnd. Raffles and the Ritz-Carlton are building properties on the south and northwest coasts, which will open in 2008 and 2010, respectively; Westin Le Paradis, a 600-acre property comprising a resort, private residences and a Greg Norman–designed golf course, as well as Cap Maison, a boutique hotel slated to open early next year, are bound to transform the rugged, still-untapped north coast. And a host of high-end resorts have opened in the last year, including the Discovery at Marigot Bay, which is managed by Paris-based G.L.A. Hotels, and Jade Mountain, the world’s first hotel with private infinity pools spilling out of three-wall suites.

The challenge for St. Lucia—and for foreign investors—will lie in ensuring that the development also positively affects the island’s residents and the infrastructure. There is still a lot of poverty here, often right outside the gates of the five-star resorts, and the separation between locals and tourists, while not as extreme as in some other Caribbean destinations, could stand improvement (the St. Lucians I met were incredibly friendly, helpful and proud to show off their island). Some places, like Discovery, encourage guests to explore beyond the beaches (and since St. Lucia is a volcanic island, sprawling sand beaches are not the main focus. With things changing so fast, now is a fascinating time to visit St. Lucia.