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TCI: Economic growth dips, tourism arrivals up, Change Document to diversification reiterated

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#Providenciales, May 4, 2019 – Turks and Caicos – The Turks and Caicos is far too dependent on tourism as a leading means of revenue and there are plans in the upcoming fiscal year by the PDM Government to fulfill more of their ‘Change Document’ promises for economic diversification. 

It was an early theme in the Budget Address by the Premier on Wednesday May 1; the 2019-2020 Budget is labelled “Delivering on Real Progressive Change”.

In setting up her premise for the direction of this budgetary year, it was revealed that seven percent of residents are unemployed in the Turks and Caicos and that figure will remain stable throughout this year; but early in her Budget Communication, Premier and Finance Minister Sharlene Robinson touted that stay over visitors and cruise ship stops are up for the islands.

“Although the unemployment numbers are relatively low in comparison to some of our Caribbean neighbours, my government understand that there are unemployed persons out there, we know that some persons are underemployed and we are exploring ways to ensure that our residents are able to earn a decent wage which will ensure that they maintain a high standard of living. Stay-over arrivals rebounded in 2018, with the tourist board estimating a growth in stay-over arrivals of 5 percent. Mr. Speaker, cruise visitors increased by approximately 23 percent in 2018. We expect continued growth.”

Though concerning, the Premier says there is no cause for alarm with the underperformance in economic growth for the last fiscal period; citing the TCI’s economy as strong. 

“Mr. Speaker, the Turks and Caicos Islands Statistics Department, real GDP projection of 3.2 percent for 2018 has been revised downwards slightly to 2.5 percent, which is 0.7 percentage point below what was earlier forecasted. This revision takes into consideration the slow pace in the execution of the forecasted public and private sector construction projects in 2018. Real GDP Mr Speaker is forecasted to grow by 3.8 percent in 2019 and see further increases in 2020 and 2021.”

When it comes to economic diversification, the Change Document of the PDM, is expected to influence new revenue streams. 

“The Diversification Strategy & Implementation Plan underscored the dominant role played by tourism in the economy of the Turks and Caicos Islands. As such, the importance of economic diversification in the context of external shocks and natural disasters was emphasized. In so doing, alternative industries with the potential for economic growth were identified namely agriculture, fishing, health services, ICT and professional services. The export of services was identified as the best avenue for major economic growth with respect to small island economies. Mr. Speaker, we will continue to progress work in this area.”

The Premier and her team will action an approach to broadening how the Turks and Caicos increases annual income, and titled the effort the Diversification Strategy & Implementation Plan.

“The Diversification Strategy & Implementation Plan underscored the dominant role played by tourism in the economy of the Turks and Caicos Islands. As such, the importance of economic diversification in the context of external shocks and natural disasters was emphasized. In so doing, alternative industries with the potential for economic growth were identified namely agriculture, fishing, health services, ICT and professional services. The export of services was identified as the best avenue for major economic growth with respect to small island economies. Mr. Speaker, we will continue to progress work in this area.”

Premier Sharlene Robinson’s 2019-2020 Budget presentation was a 3-hour speech.

#magneticmedianews

#tcieconomicgrowthdips

#changedocumentreiterated

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TCI News

Orlando Mother Remanded for Bullet possession in Turks and Caicos

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Wilkie Arthur and Deandrea Hamilton 

Editorial staff

 

Remanded until July, but her attorney Leanna Brooks-Campbell is likely to make application for bail as the matter is now transfered to the Supreme Court.

American tourist from Orlando, Florida Shanita Shinee Grier, 45, who was arrested Monday, after two bullets were allegedly found in her baggage is the newest defendant facing the stiff penalties associated with breaching the Turks & Caicos Firearms Ordinance.

Grier was exiting TCI at the Providenciales International Airport with her daughter when the ammunition was detected, ending her Mother’s Day trip to the islands on an unexpectedly sour note.

Today, the chief magistrate remanded her to prison until July 5, 2024, however that can change.

She is facing charges of unlawful possession of ammunition; a crime punishable with a minimum 12 year sentence except in the case of a judge ruling that the case falls in the category of “exceptional.”

Then, and only then would it warrant a different sentence by a judge.

Support for the Floridian was impressive; Bryan Hagerich and Ryan Watson and their relatives filled the Magistrate’s Court on Old Airport Road informs Court Correspondent, Wilkie Arthur.

It was a show of patriotic solidarity on an issue which has elicited emotive views on all sides for Americans who are hoping to prove they were tourists on holiday and nothing more.

Bryan Hagerich of Pennsylvanian and Ryan Watson of Oklahoma also charged in two separate instances for being in possession of ammunition while wrapping up their TCI vacations in April and May respectively.

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InvestTCI facilitates the Development Agreement Between TCIG and Molo Hotel Group 

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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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AMERICAN MOTHER AND DAUGHTER ALLEGEDLY ARRESTED FOR TWO BULLETS

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Deandrea Hamilton and Wilkie Arthur

Editorial Staff

 

A DAUGHTER reportedly brought her mother to the Turks and Caicos for Mother’s Day, and both were allegedly arrested, leaving the Turks and Caicos Islands today (Monday 13th, May,2024).

Officials say they were found with two rounds of ammunition in their luggage.

Police have confirmed the arrest to Magnetic Media after inquiries.

Turks & Caicos residents are already reacting to this latest report, “dumbfounded” by the mistake which keeps being repeated despite all of the high profile attention the matter has received in leading news organizations and the warning the US Embassy has issued. There is also the well publicized stance of the TCI Office of the Director of Public Prosecutions that these individuals must be punished according to the law.

In this newest case, the daughter was released, and the mother remains in police custody pending charge and court appearance later this week.

Police inform they will update soon.

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