Beautiful Virgin Islands

Tuesday, Jun 24, 2025

BVI poised to double its revenue, add $100M in 7 years — Premier

BVI poised to double its revenue, add $100M in 7 years — Premier

The BVI can possibly double its revenue in the coming years and is largely banking on its twin financial pillars of tourism and financial services to get there in record time.
Premier and Finance Minister Dr Natalio Wheatley expressed this sentiment recently; noting that the BVI is well-positioned for economic expansion given its current trajectory.

Dr Wheatley recalled that as far back as 2001, the territory had a budget of $192 million but has just about doubled it in 2023 with a budget of nearly 400 million dollars.

He suggested that the territory can double its revenues again in an even shorter timeframe than it previously did.

“We are poised for growth. We can’t imagine ourselves to stay at the revenue figures where we are now,” Premier Wheatley said. “Just like in the last 20 years, we doubled our revenues, we have to double it again — and we are poised to double it again.”

“We’re at $376 [million]. You know, we have to add another $100 million to that. By 2030 let’s add another $100 million. And we can do it,” he stated.

However, reportedly high unemployment levels for locals — a theme the Premier and other lawmakers have highlighted over the years — did not appear to be a troubling factor for this prediction for growth.

“Our economy is producing jobs, upon jobs, upon jobs, upon jobs — to the point where you have to import people to do work — and you have lots of work permits that you issue each year. So our economy is doing well,” Dr Wheatley stated.

In the meantime, the Finance Minister also looked at other factors that might spur the territory’s growth, such as the BVI’s indebtedness. He pointed out that the BVI has never defaulted on loans and has a good debt servicing ratio.

He noted, too, that the BVI needs to find ways of diversifying its economy and pointed to food production and ‘light manufacturing’ as possible avenues for getting this done.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
BBC Demands Perplexity AI Immediately Stop Using Its Content
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
×