Where Inspiration Becomes Reality! Overview About The Turks and - - PowerPoint PPT Presentation

Where Inspiration Becomes Reality!

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Overview

• About The Turks and Caicos Islands
• Major Opportunity Sector – Tourism & Investment
• Other Opportunities
• 5 Reasons to Invest in the Turks And Caicos
• Government and Other Initiatives

About TCI

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ABOUT THE TURKS & CAICOS ISLANDS

• British Overseas Territory consisting of 40 islands with a population estimated at 39,000 on 8

inhabited islands.

• Two party system with democratically elected government.
• One of the fastest growing economies in the Caribbean with 4.4%

annual growth.

• Standards & Poor rating of BBB+
• Tourism is the largest sector of the economy with the islands

receiving over 1.3 million visitors a year.

*Turks and Caicos Department of Economic Planning and Statistic * (TCIG GDP Report, 2014) *Turks and Caicos Island Tourism Statistic 2016

Major Opportunity Sector

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TOURISM

• Tourism is main industry and contributes over 60% of

GDP*;

• TCI the fastest growing tourist destination in the

Caribbean*;

• United States is leading source market with 81.7% of all

stop-over arrivals to the island;

• 48.7% growth in UK visitors in 2015*
• Reputation as top location for high net worth individuals;
• Approximately 3,300 hotel keys
• Direct flights from North America, Canada, the UK and

the Caribbean

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The destination welcomed and hosted some 1,300,575 tourists to its shores in 2016.

• 453,612

Stop-over visitors 17.5% increase

• 846,963

Visitors via Cruise port

Tourism Sector Performance

*Turks & Caicos Islands Tourist Board Statistics Department Tourism Statistics –2016

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Visitor Arrivals

The tremendous growth in visitor arrivals to the destination can be attributed to a number of factors including:

• Accessibility to the destination with frequent flights from

most major cities in the United States

• Market position as a high-end luxury destination.
• Protected pristine natural environment with the world’s third

largest barrier reef.

• Low crime rate

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Investment opportunities in the Tourism Sector

• Opportunities exist in:
• Eco, marine and soft adventure tourism;
• Medical Tourism;
• Sports Medicine;
• Culinary Arts;
• Marinas;
• Hotel and villa development
• Strong Government Support, Incentives and Concessions

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Investment opportunities in other sectors

• Infrastructure
• Spine Link Road
• Transshipment Port
• Financial Services
• Corporate Structures
• Trusts
• Captive Insurance
• Light Manufacturing
• Particularly related to hospitality sector
• Agribusiness and Agriculture
• Including hydroponics

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Innovation in the Islands

• Technological Advancements – OCTA Innovation award winning Safenet Utility

Software

• World’s only Conch Farm
• Grand Turk Coral Reef Regeneration Project
• Development of local brands – Caicos Teas, Tropical Barbecue Sauce, Sakaja

Sauce, FOTAC and the Bambarra rum brand

Renewable Energy Policy

• The Turks and Caicos Islands Government (TCIG) energy policy embraces technology

neutrality in its approach to promote all renewable energy technologies and resources to increase energy sustainability and the promotion of reasonable and stable energy costs.

• The government encourages research, development and testing of innovative renewable

energy technologies whose primary energy resource is available in the islands.

• Granting assessment licenses to assess the resources properly and considering concessions

for developing renewable energy facilities.

• TCIG favors the granting of assessment and licenses for research as well as development of

not only main stream wind and solar technologies but also ocean energy.

• Market participants will have the incentive and ability to develop renewable energy and

energy efficiency projects that benefit the country.

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Renewable Energy Initiatives

• Fortis TCI, a subsidiary of the Canadian energy conglomerate Fortis, and the only

utility company on island, plans to invest $30 million a year over the next five years in generation, transmission/distribution and renewable energy.

5 Reasons to Invest in the Turks and Caicos Islands

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TOP 10 REASONS TO INVEST IN THE TCI

• Strong Economy
• Pro-Business Investment Climate
• Strong Legal System
• Effective Regulation and Compliance
• Easy Access

*Providenciales has been voted the best island in the world in TripAdvisor’s Traveller’s Choice Awards 2015

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Accolades/Awards

Providenciales in the Turks and Caicos is TripAdvisor’s latest pick for the world’s top island. Turks and Caicos Grace Bay Beach #1

• f the top 25 beaches in the world 2016

Grand Turk named among the world’s top cruise destinations, based on consumer reviews

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Government Initiatives

• The TCI Government recognizes that it cannot rely solely on the Tourism sector for the

growth of its economy.

• Establishment of Investment Promotion Agency, Invest Turks and Caicos.
• Support for SME sector to promote entrepreneurship and innovation.
• Strengthen legislation and reforms for energy sector.
• Introduction of a new investment policy statement that provides concession for priority areas of

development.

Invest Turks and Caicos

Courtyard Plaza Leeward High Way Providenciales, Turks & Caicos Islands

Our Phone

(649) 338 4772

Email / Website

info@investturksandcaicos.tc www.investturksandcaicos.tc

CONTACT US