Beautiful Virgin Islands

Tuesday, Jun 03, 2025

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

Beautiful Virgin Islands
0:00
0:00
Close
Dutch government falls as far-right leader Wilders quits coalition
Harvard Urges US to Unfreeze Funds for Public Health Research
Businessman Mauled by Lion at Luxury Namibian Lodge
Researchers Consider New Destinations Beyond the U.S.
53-Year-Old Doctor Claims Biological Age of 23
Trump Struggles to Secure Trade Deals With China and Europe
Russia to Return 6,000 Corpses Under Ukraine Prisoner Swap Deal
Microsoft Lays Off Hundreds More Amid Restructuring
Harvey Weinstein’s Publicist Embraces Notoriety
Macron and Meloni Seek Unity Despite Tensions
Trump Administration Accused of Obstructing Deportation Cases
Newark Mayor Sues Over Arrest at Immigration Facility
Center-Left Candidate Projected to Win South Korean Presidency
Trump’s Tariffs Predicted to Stall Global Economic Growth
South Korea’s President-Elect Expected to Take Softer Line on Trump and North Korea
Trump’s China Strategy Remains a Geopolitical Puzzle
Ukraine Executes Long-Range Drone Strikes on Russian Airbases
Conservative Karol Nawrocki wins Poland’s presidential election
Study Identifies Potential Radicalization Risk Among Over One Million Muslims in Germany
Good news: Annalena Baerbock Elected President of the UN General Assembly
Apple Appeals EU Law Over User Data Sharing Requirements
South Africa: "First Black Bank" Collapses after Being Looted by Owners
Poland will now withdraw from the EU migration pact after pro-Trump nationalist wins Election
"That's Disgusting, Don’t Say It Again": The Trump Joke That Made the President Boil
Trump Cancels NASA Nominee Over Democratic Donations
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OnlyFans for Sale: From Lockdown Lifeline to Eight-Billion-Dollar Empire
Mayor’s Security Officer Implicated | Shocking New Details Emerge in NYC Kidnapping Case
Hegseth Warns of Potential Chinese Military Action Against Taiwan
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Jamie Dimon Warns U.S. Bond Market Faces Pressure from Rising Debt
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Taylor Swift Gains Ownership of Her First Six Albums
Bangkok Ranked World's Top City for Remote Work in 2025
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
U.S. Justice Department Reduces American Bar Association's Role in Judicial Nominations
U.S. Department of Energy Unveils 'Doudna' Supercomputer to Advance AI Research
U.S. SEC Dismisses Lawsuit Against Binance Amid Regulatory Shift
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
×