Turks and Caicos, November 7, 2025 – A record 2,846 new jobs are on the horizon for the Turks and Caicos Islands — a staggering figure that underscores the scale of economic momentum now coursing through the country. The announcement came yesterday as Premier and Minister of Finance, Investment and Trade, Hon. Charles Washington Misick, presented his mid-year report in the House of Assembly.
“Let me repeat, 1.27 billion dollars in development agreements for major projects have been executed,” the Premier told lawmakers. “From these projects we will create one thousand and twenty-three new rooms and two thousand eight hundred and forty-six permanent jobs for the economy.”
In a population of barely 45,000, that number is seismic. It speaks to both the opportunity and the tension of the moment — prosperity that will stretch local capacity and, inevitably, deepen reliance on foreign labour.
$1.27 Billion in Fresh Investments Fueling Growth
The employment surge is being driven by $1.27 billion in new development agreements brokered by Invest TCI between April and September 2025. The investment list is stacked with big-ticket names:
- Hadley Investments Limited – $1.2 billion
- The Bight by Dream Hotel – $65.5 million
- Retreat Development Limited – $7.3 million
- Amethyst Development Ltd. – $6.8 million
Collectively, these projects will bring 1,023 new rooms online and ignite activity across multiple islands. The Premier noted that 27 development agreements valued at just over $3 billion remain active — 22 in Providenciales, two each in Grand Turk and South Caicos, and one on Ambergris Cay.
Six new foreign direct investment (FDI) projects valued at $755 million have already started between April and September 2025, spread across four islands. Another four domestic investment proposals, worth $407.9 million, have been received for new luxury resorts, townhomes, and mixed-use spaces.
“Tourism continues to be the lifeblood of our economy,” Misick said. “But the pace of investment has been nothing short of vigorous, signaling strong investor confidence and a very promising future.”
The Labour Equation: Prosperity Meets Pressure
For all the celebration, there’s a flip side — the people needed to make this boom possible. The Premier acknowledged the growing reliance on expatriate labour and the strain that comes with it.
Work permit fees brought in $22.6 million during the first six months of the fiscal year — $1.9 million above estimates and $2.7 million higher than last year. Most of those work permits, the Premier confirmed, are tied to tourism and construction, sectors now running at full throttle.
“As construction and allied business activity has increased, so too has the number of work permits,” he said. The message was unvarnished: the more the economy expands, the greater the need for imported hands to build, serve, and sustain it.
It’s a bittersweet reality for a country whose citizens are ambitious but few. The challenge now — and the political test — will be whether the government can pair this expansion with deeper training, education, and local participation so that Turks and Caicos Islanders fill more of these high-value roles in the years ahead.
A Government Flush with Cash
If the development pipeline paints a picture of the future, the balance sheets show the country’s strength right now. The Premier reported that cash flow increased by $63.7 million in the first six months of the fiscal year.
At the end of the 2024/25 financial year, the government’s cash balance stood at $366.3 million — but by the end of September 2025, that figure had climbed to a commanding $430 million.
Of that total, $242.9 million sits in the Consolidated Fund for day-to-day operations, and $88.5 million is available in the Development Fund for project implementation — up sharply from $51.5 million in March.
It’s a level of fiscal cushion that few small island states can claim — one that gives the TCI a rare degree of resilience and maneuverability at a time when global markets are volatile.
A $1.7 Billion Economy — and Climbing
The Premier’s mid-year report confirmed that TCI’s economy now stands at $1.7 billion, with per capita income just over $34,000, among the highest in the Caribbean. Economic growth was a strong 6.5% in 2024, and global ratings agency Standard & Poor’s upgraded the country’s credit rating to A-, citing “sound fiscal management” and cash reserves nearing 30% of GDP.
Still, Misick cautioned against complacency, warning of tariff volatility, inflationary pressures, and U.S. stock market swings that could cool retiree travel — a major visitor segment. “These are realities we cannot ignore,” he said. “But neither will we be complacent. My government is responding proactively — intensifying marketing efforts, introducing targeted promotions, and pursuing new partnerships.”
The Bottom Line
The Turks and Caicos economy is running hot — billions in projects, thousands of jobs, and a government flush with cash. But with that heat comes a balancing act: managing rapid expansion while ensuring Islanders remain at the center of the story.
Because a boom means little if it doesn’t lift the people who call these islands home.
Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.