As it stands, Great Britain could offer assurances to the developers that their projects are welcomed. This is true particularly in the wake of the Nikki Beach Resort failure, a former major revenue earner and employer for Turks and Caicos citizens. Many islanders who were employed by the posh Nikki Beach Resort, are currently out of work. This turn in the unemployment numbers is a matter that can be also addressed by tourism dollars.
Recent news of a newly appointed tourism board assembled by Great Britain is exciting. However, it will be necessary for the board to listen to Islanders urging the new government to make certain that tourism is properly addressed targeting both the tourists and the businesses that create jobs and revenue for Turks and Caicos.
Incentives for foreign investors will play an important role in solving the employment problems and encouraging economic regrowth in Turks and Caicos.
Anita Mendiratta of CNN, put it well, "And, importantly, tourism attracts high levels of Foreign Direct Investment (FDI). Investors sharing the vision for the destination with the home government confidently inject significant levels of key resources into tourism and general infrastructure development projects, enabling the destination to proactively engineer their future."
Article comments
1 - Jimmy
"it would be in the island's best interest to insist that Great Britain offer better incentives for businesses and developers. "
Did you have anyone in particular in mind?
2 - Nita
Investors and developers are the best resources for tourism and the economy. Many resorts are either closing or cannot get off the ground without the assurances of the new government structure.
3 - Jimmy
And yet they can still afford astroturf bloggers and junk libel suits. Go figure.