British Virgin Islands

Thursday, Jan 27, 2022

VI economy ‘constantly & consistently progressing with recovery’- Premier

VI economy ‘constantly & consistently progressing with recovery’- Premier

Devastated by the hurricanes of 2017 and then severely impacted by the global coronavirus pandemic, the ever-resilient Virgin Islands may have been battered with blows but has not gone down for the count. In fact, like ‘Rocky’, it is fighting its way back with grit and steely determination.

“Over the past several months, the Virgin Islands economy has been constantly and consistently progressing with recovery, through the policies and management strategies of your Government and through the cooperation of all stakeholders in the public and private sectors,” an optimistic Premier and Minister of Finance Hon Andrew A. Fahie (R1) related to the territory as part of his New Year’s message on January 1, 2022.

Over the past several months, the Virgin Islands economy has been constantly and consistently progressing with recovery, through the policies and management strategies of Government and through the cooperation of all stakeholders in the public and private sectors, an optimistic Premier and Minister of Finance Hon Andrew A. Fahie (R1) related to the territory as part of his New Year’s message on January 1, 2022.


Tourism on the rebound


One of the sectors that has taken a pummeling since 2017 is tourism; however, its revival is being witnessed, despite the ongoing pandemic that brought tourism to a screeching halt during the onset of the pandemic.

“Our tourism industry, which remains in high demand, has been seeing increasing numbers of visitor arrivals. Cruise arrivals, day-trippers, overnight visitors, yachts and charter visitors, are all on the rise, notwithstanding the pandemic. Air travel to Tortola, Virgin Gorda and Anegada is now more convenient and accessible.

“All of this spells good news for our accommodation properties, taxi and tour operators, restaurants and bars, and vendors, Government revenues – and for the wider economy. To God be the Glory,” Premier Fahie stated.

He said the positive trends in tourism are expected to continue, once the territory remains vigilant and continue to maintain the Virgin Islands’ profile as a safe destination.

Stimulating the economy


The Leader of Government Business also said his Virgin Islands Party (VIP) government has pushed forward with a number of large and small projects to stimulate economic activity, support local businesses, improve infrastructure, contribute to job creation and improve and expand service delivery for the VI people.

“A lot has been done and more work will continue,” the Premier assured.

Hon Fahie also reminded that the New Year, 2022, meets us with a new Budget in place to support continued economic recovery and growth.

Opportunities from new industries


He said many more projects and programmes are already lined up for implementation, with others in advanced stages of preparation.

“Opportunities from new industries such as the Gaming and Betting industry are around the corner. Your Government intends to work even more closely with the private sector to discover and launch further opportunities. The Digital Economy and Green Energy sectors are two of the top priority areas, as we continue working to further strengthen our resilience through diversification.

According to the Premier, in short, 2022 is poised to be a year of hope, opportunity and resurgence for the Virgin Islands, “and we ask God to keep it so.”

Newsletter

Related Articles

British Virgin Islands
×