TCI News
Invest Turks and Caicos says investment interest coming from 64 countries around the world
#Providenciales, May 20, 2019 – Turks and Caicos – The CEO of Invest Turks and Caicos Agency revealed that the TCI is being courted by investors representing 64 different countries of the world and he reminded that the economic pillars of the country are real estate, financial services and tourism.
“Increasingly, because this is a major tourist destination, we have investors that are coming from all over the world. They’re coming from China, they are coming from India, they are coming from the UK, they’re coming from Switzerland, Germany, Sweden; 64 different countries is the number of investors we are dealing with in our Agency in the last 12-months. That’s the world and the world is coming to TCI. Thank you, world!”
James Bursey was speaking to a packed room at the Shore Club as the key note speaker of the conference of the TCI Tourist Board’s Turks and Caicos Conference, also known as TACC. The theme for 2019 was Redefining Luxury.
“We also have to think, ‘what is luxury’; Luxury changes depending on your age. We have to offer a broad range of services fundamentally what happens in these islands and what we’re going to be doing is expanding our range of services to cover many parts of the economy because no tourist is similar to the next. They are all different, they all have different desires, different wants, different time tables and different financial concerns.”
Bursey, who hails from Canada originally, recently took on the role of CEO of the Agency and explained that his team works with Government Agencies and the Private Sector for a perfect balancing act for the perfect climate for what he calls, ‘a perfect tiny country.’
“We are the tiny perfect country, we are small but we are perfect because we have the perfect climate, we have a perfect way of life and we have perfectly friendly people. Think of us as the tiny perfect country, this is where you want to bring your clients or better yet, you should stay here and have them come join you.”
The CEO was keen on the travel and tourism industry representatives attending TACC2019 to understand that there is respect for the environment, consideration for the resident population and the potential of other islands in the archipelago, watchfulness of technological trends and a commitment to diversity in high caliber service delivery.
Mr. Bursey talked about technology infrastructure and technology investments at the conference.
“The other thing that’s changed and that redefines luxury is the issue of technology, what role will technology play? So, we have to make reasonable guesses, we put in infrastructure, we encourage the private sector to add to the areas in which government must invest and we try to work out a strategy for infrastructure, for tourism, for transportation…”
The CEO added, “We are going to be doing more localized software development. In these islands, quite frankly, all of the islands of the Caribbean and countries of the world because software is now becoming the dominant method by which we manage our day to day activities. And we are all waiting, with bated breath, to see what happens with artificial intelligence.”
It was the 15th year for the Turks and Caicos Conference held May 8-11, 2019; also speaking at the session were Adelphine Pitter, Turks & Caicos Tourist Board, Chairperson; James, Smith, TCI Police Commissioner; Todd Foss, TCHTA President; Ramon Andrews, TCI Tourist Board Director; Hon Ralph Higgs, Minister of Tourism Environment and Gaming and Hon Sharlene Robinson, Premier of the Turks and Caicos Islands.
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Providenciales, Turks and Caicos Islands – May 14th, 2024 – The Turks and Caicos Islands Government and Molo Hotel Group reached a pivotal juncture on Monday, May 13th, 2024, with the ceremonial signing of a development agreement at the Premier’s Office on Providenciales. The agreement, which received official Cabinet approval on March 13th, 2024, signifies a steadfast commitment to advancing the economic landscape of the Turks and Caicos Islands.
Molo Hotel Group is a family-owned business, renowned for its distinguished portfolio of high-quality hotels worldwide. The
development initiative encompasses the construction of three distinct IHG branded hotels: InterContinental Turks and Caicos, Kimpton Turks and Caicos and Hotel Indigo Turks and Caicos. Scheduled for completion by 2027, each resort boasts a distinctive design from luxury to laidback sophistication spanning across the shores of Grace Bay Beach.
Kimpton Turks and Caicos – an epitome of luxury lifestyle living, will feature 192 guest rooms including three outdoor pools, a luxury spa and a fitness center. Additionally, seven dining options ranging from a beachfront restaurant to a rooftop bar.
Adjacent to the Kimpton, InterContinental Turks and Caicos will offer 59 classic luxury suites with panoramic ocean views. Mirroring its counterpart, this resort will offer an array of dining options and upscale facilities.
Steps away from the Intercontinental and Kimpton resorts, Hotel Indigo Turks and Caicos will embrace a sense of community and contemporary elegance, offering 56 bedrooms. The resort will feature an onsite restaurant, lobby bar, outdoor pool, and fitness room.
Beyond the realm of hospitality, this development agreement underscores the government’s commitment to fostering economic growth and enhancing employment opportunities in the Turks and Caicos Islands. Molo is partnering with the Turks and Caicos Islands Community College (TCICC) to actively promote hospitality as a career choice and support in developing training programs, career fairs, seminars, workshops, and events to raise awareness about hospitality careers. Molo has committed to provide employment and apprentice opportunities to TCICC students and provide mentoring and practical on property training to students.
The signing event was graced by Hon. Charles Washington Missick, Premier of the Turks and Caicos Islands, Hon. Jamell Robinson, Deputy Premier, Hon. Kyle Knowles, Minister of Public Safety and Utilities, Hon. Rachel Taylor, Minister of Education, Youth, Sports and Culture, Łukasz and Marcin Slominski, Owners of Molo, Ross Morrow, Managing Director Molo, Arik Kono, Vice President Upscale Development for IHG, Dr. Candice Williams, President and CEO of the Turks and Caicos Islands Community College, Angela Musgrove, InvestTCI CEO, Dr. Barbara Ambrister, Chairperson of the Turks and Caicos Islands Community College, Dr. Delores Stapleton- Harris, Vice President of Academic, Vocational and Student Affairs for the Turks and Caicos Islands Community College, Mr. Kevin Baxter, Dean of Technical Vocational Education Training (TVET) and Sheryl McLaughlin, InvestTCI Investment Services Executive.
Commenting on the development agreement, Premier, Hon. Misick, stated “The Memorandum of Understanding (MOU) signing of
IHG/Molo Hotels is a significant step towards a sustainable future for hospitality in the Turks and Caicos Islands. Three hotels, Kimpton, Intercontinental, and Hotel Indigo, will be introduced, enhancing our tourism product and creating employment opportunities.”
He further added, “Partnerships with the Turks and Caicos Islands Community College and Turks and Caicos Islands Sports Commission are underway, demonstrating the Government’s commitment to developing human capital and elevating tourism offerings. This project will bring economic growth, embrace local talent, and enrich our economy.”
Additionally, Mrs. Angela Musgrove, CEO of Invest Turks and Caicos Islands, emphasized “This collaboration confirms our commitment to fostering economic growth and prosperity within our country. We have worked closely with Molo Hotel Group, and we are confident that this transformative project will further position the Turks and Caicos Islands as a premier destination for travel and investment. Much to our delight, it will also provide opportunities for engagement with our Community College and small business community.”
The Government of the Turks and Caicos Islands, operating through its primary Investment Promotion
Agency, Invest Turks and Caicos Islands, remains committed to attracting and facilitating Foreign Direct Investments to the country by providing a comprehensive suite of services. Through strategic initiatives and targeted promotion, the agency catalyzes sustainable development, driving innovation and small business opportunities across various sectors of the economy.
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