Beautiful Virgin Islands

Tuesday, Jun 24, 2025

Tourism On Life Support! Port Delays May Force Permanent Business Closures

Tourism On Life Support! Port Delays May Force Permanent Business Closures

With the widespread negative impact of the Coronavirus on the tourism sector locally, the BVI Chamber of Commerce and Hotel Association (BVICCHA) is warning that the continuous delay in reopening the territory’s seaports could cause businesses to become permanently closed.
A number of food and beverage-based facilities have closed in recent times due to the COVID-19 pandemic and its effects on travel.

The BVICCHA said in a statement issued today, March 4, 2021, that they are disappointed by the news and are continuing to raise concerns because the sector is “on life support.”

“The seaports are the main point of destination access into the Virgin Islands, and a further delay to April 2021 at the end of the regular tourism season is another blow to an already fragile situation. This would mean that for the second year in a row, the accommodations and food services sector, which accounted for over $80 million in economic activity in 2016, has suffered another major disruption that could result in permanent business closures,” the BVICCHA argued.

The BVICCHA stated that while the business community appreciates the prioritization of public health and safety, a balance is needed to protect livelihoods that, if not preserved, will have a long-lasting impact and result in socioeconomic fallout such as poverty due to chronic under-employment or unemployment.

It continued: “The tourism sector businesses, which have earned little to no revenue over the past 12 months, are in a dire position and unable to return persons to work or pay severance without going bankrupt. It is important to remember that the local economy is integrated and if one sector(s) is in distress, there is a significant impact across all. For example, the professional services sector, including the transportation, wholesale and retail sectors, will also be negatively impacted.”

The chamber said, as per a report issued in October 2020, “many businesses that rely on tourism dollars, directly or indirectly, have exhausted savings trying to survive thus far, and some are going into debt trying to sustain operations. Some businesses are still reporting that they have not received business relief assistance promised from six months ago.”

In the meantime, the chamber said the situation is again highlighting the need for immediate strategic actions to diversify the economy in the next 3 to 5 years to minimize the economic shockwave.

“We again make the call for a Comprehensive Economic Recovery & Development Plan to be developed with stakeholder consultations that include unemployment benefit scheme, economic relief/paycheck protection program, bank deposit insurance, moratoriums, and bankruptcy regulations. Longer-term goals such as diversification, workforce development plan, and regulations that make a more business-friendly environment also needs to be included in this plan. A key element to start this planning process is quarterly economic reporting to provide information for planning and decision-making.”

The reopening of the seaports was deferred to April 15 after being pushed back for the third time.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
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
×