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

Where Inspiration Becomes Reality!

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 2

About TCI

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 4

Major Opportunity Sector

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 6

Tourism Sector Performance 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 *Turks & Caicos Islands Tourist Board Statistics Department Tourism Statistics – 2016 7

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 8

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 9

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 10

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 11

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.

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. 13

5 Reasons to Invest in the Turks and Caicos Islands

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 15

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 of the top 25 beaches in the world 2016 Grand Turk named among the world’s top cruise destinations, based on consumer reviews 16

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. 17

CONTACT US Our Phone Email / Website Invest Turks and Caicos (649) 338 4772 info@investturksandcaicos.tc Courtyard Plaza www.investturksandcaicos.tc Leeward High Way Providenciales, Turks & Caicos Islands