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Baker Tilly Survey Says….

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#TurksandCaicos, October 1, 2021 – Baker Tilly, Turks and Caicos Islands recently launched its eagerly awaited 2021 Baker Tilly Caribbean Hospitality Financing Survey.

The results of the survey include several positive references to the Turks and Caicos Islands. For example banks, private equity funds, family offices and developers all named TCI as the country in the region which they are most confident about in terms of providing financing to tourism projects.

The last 18 months has clearly been an extraordinarily difficult period for the region’s tourism industry. Whilst many stakeholders in the industry may have their own instinctive feel as to how the pandemic has impacted financiers’ current perspective of Caribbean tourism projects, Baker Tilly’s survey is the first of its kind that is able to give a definitive view on such matters based on comprehensive data provided directly by banks, private equity funds, family offices and developers pursuant to an extensive survey exercise.

It is very encouraging for the region that many of the survey findings reflect signs of positivity and optimism amongst the financing community.

The main messages coming out of the Baker Tilly survey include, but are not restricted to, the following:

 

  • Some 60% of respondents state that COVID has unquestionably been the biggest threat to tourism in their lifetime.
  • The confidence level of the non-bank community, being private equity funds, family offices and developers, is more than double the level pre-pandemic.
  • All non-banks anticipate making new investments in Caribbean tourism related projects in the next 12 months.
  • A major contributor to these confidence levels is a perceived real estate boom which two thirds of respondents believe will last for at least a year.
  • The real estate boom is partly fueled by High-Net-Worth individuals who are contemplating an investment in the Caribbean as part of a Plan B or Plan C in the event of further COVID outbreaks or similar pandemics.
  • Private villas, serviced by established resort management companies or on a “stand-alone” basis, represent a rapidly growing market segment creating an entire ecosystem of jobs
  • Most respondents believe it will be at least late 2022 before tourism numbers return to pre-COVID levels.
  • A couple of cautionary notes. Approximately half of respondents believe it is becoming more difficult to conduct business in the Caribbean and some 20% of banks anticipate that more than 10% of their tourism industry clients will go out of business within the next 12 months
  • Sentiment is very much one of excitement and optimism exemplified by the following quote when respondents were asked what fills them most with optimism about the future “The fact that the industry survives something like COVID against all odds.

Gary Brough, Managing Director of Baker Tilly, Turks and Caicos Islands, who is leading Baker Tilly’s tourism initiatives in the Caribbean said “The survey findings certainly corroborate what we are seeing in the marketplace but even we were quite surprised at just how high the confidence levels of the financing community are and the extent of financiers commitment to making investments in the regions tourism industry over the next 12 months. This certainly represents good news for our regional economies particularly given that the Caribbean is the most tourism dependent region in the world.”

 For further details please contact Gary Brough on 946 4613 or go to www.bakertilly.tc

Bahamas News

Mother’s Pride Headlines Bahamian Takeover at Sixers-Heat Clash in Miami

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The Bahamas, March 30, 2026 – The voice of a proud mother captured the spirit of a nation Monday night, as Bendra Rolle shared heartfelt reflections on the overwhelming Bahamian support for her son, VJ Edgecombe, during the Philadelphia 76ers matchup against the Miami Heat in Miami.

“The patriotic support and scenery at my son, VJ Edgecombe’s NBA game… was overwhelming,” Rolle said in a statement issued following the game. “The arena in Miami was lit. Bimini and the Bahamas showed up and showed out.”

Her words come amid what has already been widely described as a remarkable showing of national pride, with Bahamians traveling in large numbers to South Florida to witness the young guard’s continued rise. For Rolle, however, the moment extended far beyond basketball.

“Beyond VJ’s basketball talents, I’m so moved by his magnetic personality and personal journey to inspire and excite an entire nation—our beloved Bahamas,” she said. “I thank God for VJ’s humility and for his hunger for greatness. He never forgets how far God has brought us.”

While the Sixers did not secure the win on the night, Edgecombe delivered a solid individual performance, finishing with 13 points and five assists. He made an early impact on the game, showing confidence and poise before foul trouble disrupted his rhythm, but still managed to leave his mark in meaningful minutes.

The game itself evolved into a cultural showcase, with Bahamian flags waving throughout the arena and chants ringing out in support of Edgecombe. Much of that presence was bolstered by a coordinated travel push from Bahamasair, which helped facilitate fan travel and added to the electric atmosphere in Miami.

Rolle said the emotional weight of the moment was deeply felt by her family, as they witnessed firsthand the unity and pride of the Bahamian people.

“Thanks and love for the tears and overwhelming joy on Monday, Bahamas,” she expressed. “The Bahamian flags were love, loud, and proud. On my own behalf, VJ, and the entire family, I am ever grateful for the indescribable experience.”

Her closing words underscored what many have described as the true victory of the night—not the final score, but the powerful display of national pride and support surrounding one of The Bahamas’ rising stars.

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50 Years of Ministerial Government: Cabinet Moves to Mark Milestone Rooted in 1976 Constitution

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Turks and Caicos, March 30, 2026 – The Turks and Caicos Islands is preparing to mark a major political milestone, with Cabinet approving the establishment of a National Commemorative Committee to celebrate 50 years of ministerial government, a system first introduced under the 1976 Constitution.

The decision, confirmed in the February 10 Post Cabinet statement, signals a year of reflection on a governance model that fundamentally reshaped how the country is run — shifting from direct colonial administration toward locally led political leadership.

That shift was formalized in the Turks and Caicos Islands Constitution Order 1976, which laid the legal foundation for ministerial government and introduced a structured Executive and Legislative system.

At its core, the 1976 Constitution established an Executive Council, bringing together:

  • a Governor,
  • a Chief Minister elected by members of the Legislative Council,
  • and Ministers appointed to assist in governing the Islands.

A Very Different Government Back Then

If today’s Cabinet feels crowded, the 1976 version would have seemed almost unbelievable. There were just three Ministers serving alongside the Chief Minister — a tight, compact leadership team responsible for the affairs of an entire country. No sprawling list of ministries, no long roster of portfolios — just a handful of individuals carrying the weight of governance.

Becoming a Minister wasn’t a direct vote of the people either. You first had to win a seat in the Legislative Council, and from there, the Chief Minister would recommend who should serve. The Governor then made the appointments. In other words, political trust and alignment mattered just as much as public support — and ultimate authority still rested above the local leadership.

And as for job security? There wasn’t much of it. Ministers served without fixed terms and could be removed if they lost their seat, resigned, or if the Governor revoked their appointment. Even the Chief Minister could be ousted through a vote of no confidence. Add to that the basic requirements — being at least 21, a British subject, and meeting residency rules — and it’s clear that ministerial government in 1976 was not only smaller, but far more tightly controlled.

This marked the first time elected representatives were formally given defined roles in the administration of national affairs.

Under the Constitution, the Governor retained overarching authority, but was required in many instances to act on the advice of the Executive Council, particularly in shaping policy and overseeing government operations.

The Chief Minister, meanwhile, was positioned as the central political leader, responsible for directing government business and advising on the appointment of Ministers.

Importantly, the Constitution also allowed for the assignment of responsibilities to Ministers, giving them oversight of specific areas of government — a structure that remains at the heart of today’s Cabinet system.

Section 13 of the Order made clear that Ministers could be assigned responsibility for the administration of departments or government business, embedding accountability and functional governance into the system.

The Legislative Council, established alongside the Executive, provided the law-making body, with elected and appointed members participating in debates, passing legislation, and representing the interests of the Islands.

Together, these provisions created the framework for what is now recognized as ministerial government — a hybrid system balancing local political leadership with constitutional oversight by the Governor.

The explanatory note of the 1976 Order describes it as introducing “new provisions for the Government of the Turks and Caicos Islands,” including the creation of a Legislative Council with elected members and Ministers appointed on the advice of the Chief Minister.

Fifty years on, that structure has evolved through subsequent constitutional changes, but its foundation remains rooted in the 1976 framework.

Cabinet’s decision to establish a commemorative committee suggests that the anniversary will not only celebrate political progress, but also invite reflection on how effectively the system has delivered on its promise of representation, accountability, and governance.

As the Islands approach this Golden Jubilee, attention is likely to turn not only to the achievements of ministerial government, but also to the ongoing question of how the system continues to serve a modern and rapidly developing Turks and Caicos Islands.

Developed by Deandrea Hamilton • with ChatGPT (AI) • edited by Magnetic Media.

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Government Moves to Amend Destination Management Fee Law

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Turks and Caicos, March 30, 2026 – The Turks and Caicos Islands Government has signaled changes to its tourism funding framework, with Cabinet approving draft amendments to the Destination Management Fee Act 2023.

The decision was confirmed in the Post Cabinet statement following the February 5 meeting, chaired by Governor Dileeni Daniel-Selvaratnam, where members agreed to move forward with revisions to the law governing the collection and administration of the fee.

The Destination Management Fee, introduced in 2023, is applied to travelers entering the country and is embedded within the cost of travel. The charge was designed to support tourism-related development, including marketing, infrastructure, and sustainability initiatives.

At the time of its introduction, the fee was linked to the establishment of a Destination Management and Marketing Organisation (DMMO), which was expected to coordinate tourism strategy and enhance the visitor experience.

However, recent developments have shifted that landscape.

The DMMO has since been discontinued, raising new questions about how funds generated through the fee are being managed and what structure will now guide tourism development efforts.

The Cabinet note does not outline what specific changes are being proposed under the amended legislation.

It also does not indicate whether adjustments will be made to:

  • who pays the fee,
  • how it is collected, or
  • how the revenue is allocated and overseen.

The move to amend the law comes amid broader government efforts to strengthen revenue collection and compliance, including updates provided to Cabinet on the work of the Drag-Net Steering Committee — a multi-agency initiative focused on improving government revenue systems.

The lack of detail surrounding the amendments leaves several key questions unanswered, particularly given the fee’s direct impact on both visitors and residents and its role in supporting the country’s tourism economy.

Any changes to the Act would require further legislative steps, including presentation to the House of Assembly, before taking effect.

For now, the Cabinet’s approval signals that the government is moving to revise a policy that is already in force — but without yet disclosing how those revisions will alter the current system.

As tourism remains the backbone of the Turks and Caicos Islands economy, clarity on the future of the Destination Management Fee — and the framework it supports — is expected to be closely watched in the weeks ahead.

Developed by Deandrea Hamilton • with ChatGPT (AI) • edited by Magnetic Media.

Photo Credit: TCIAA

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