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Invest TCI Celebrates a Decade of Innovation and Impact

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Providenciales, Turks and Caicos Islands – Friday, 25th July 2025: As the investment landscape of the Turks and Caicos Islands has transformed over the past decade, so too has the role of Invest TCI. Now marking ten years of service, the Agency has helped shape a more inclusive and resilient economy — facilitating over $1.2 billion in investment and supporting hundreds of local enterprises along the way.

A Decade of Investment and Impact

Over the past decade, Invest TCI has supported over 300 micro, small and medium-sized enterprises (MSMEs) through its MSME Programme. Since the first round of MSME approvals in 2016, the programme has expanded to include sixteen priority areas, creating more opportunities for locals to strengthen and scale their business across a range of industries. The MSME Programme has continued to grow with nationwide outreach initiatives, including island-wide roadshows, playing a vital role in raising awareness of its benefits and offering direct support and guidance to both aspiring and existing entrepreneurs.

In 2023, Invest TCI hosted its first MSME Award Ceremony, recognizing outstanding local entrepreneurs who had demonstrated exceptional resilience and commitment throughout the programme. Further strengthening the programme, in 2024, an impact study was conducted to assess its outcomes, measure its contribution to economic growth, and inform future improvements to better serve local entrepreneurs. Notably, also in 2024, one MSME recipient expanded operations and is now being assessed outside the MSME category, which indicates the impact of the programme in nurturing small businesses into sustainable large-scale enterprises.

Invest TCI continues to play a strategic role in strengthening a favourable business environment for investors and bolstering the FDI ecosystem of the Turks and Caicos Islands. The agency has secured over $1.2 billion in foreign direct investments through executed development agreements, creating more than 1000 direct employment opportunities for locals. As due diligence remains a critical component during the vetting process, Invest TCI remains committed to supporting credible, high-impact developments that align with national development priorities. Over the last ten years, the agency has built relationships with global brands such as Ritz-Carlton, IHG, positioning the Turks and Caicos Islands as a premier destination for high-end investment and development.  At the same time, the Agency has strengthened ties with renowned local brands, including Grace Bay Club and The Hartling Group; longstanding partners who continue to expand their footprint and contribute significantly to the country’s tourism and real estate landscape.

Recognizing the need to better support a growing and diverse client base, Invest TCI made a strategic decision in 2023 to establish the Business Support Unit to provide dedicated and comprehensive support and training to entrepreneurs and small businesses. As the services offered continued to spread across the country, the agency noticed the need to enhance its presence in Grand Turk. In recent years, small business activity on the island has increased, alongside growing investor interest in Grand Turk’s unique cultural and economic potential.

Global Recognition and Strategic Partnerships

An important element of Invest TCI’s accomplishments contributed to defining the brand and visual identity of the agency. Invest TCI was carefully rebranded in 2017, strengthening the agency’s value proposition to investors. Its unique visual identity has been instrumental in communicating the country’s attractiveness and capturing the attention of international partners.

Invest TCI continues to generate international interest through its active participation in investment–focused international events, and the publication of several thought leadership articles, positioning the Turks and Caicos Islands as a forward-looking, investor-ready destination for investment. This proactive approach has created opportunities for the agency’s team to contribute to international planning committees and assume leadership roles within the global investment promotion community. In 2023, CEO of Invest TCI, Mrs. Angela Musgrove, was appointed as a Director of the Caribbean Association of Investment Promotion Agencies (CAIPA), a role that strengthens collaboration across the Caribbean, and has increased the visibility of the Turks and Caicos Islands among international investors.

Through strategic partnerships, projects facilitated by the agency have been recognized at the Caribbean Hotel & Resort Investment Summit, now known as ALIS CALA. The agency continues to provide global exposure for its MSMEs, most recently through its partnership with DMZ Canada. This collaboration has created international growth opportunities for entrepreneurs like Ms. Mary Fulford, owner of Island Mystique, who is now exploring new markets and expanding her business reach.

Leveraging Policy and Sustainability

In alignment with global sustainability trends, Invest TCI continues to champion sustainability by exploring further integration of Environmental, Social, and Governance (ESG) principles into the investment screening and facilitation process.

In addition to its vital role in attracting investments, Invest TCI actively participates in policy advocacy. To date, the agency has contributed to several policy recommendations, including but not limited to the revised National Investment Policy, MSME and Refurbishment Policies, ensuring the policy environment remains aligned with investor needs and national goals.

Looking Ahead

CEO of Invest TCI, Mrs. Angela Musgrove stated “As we mark this decade of service, we do so with gratitude for our partners, pride in our people, and optimism for the future. Our mission remains bold: to catalyze inclusive, sustainable investment that empowers every island and every entrepreneur across the Turks and Caicos.”

To commemorate this milestone, Invest TCI will host a series of events, including a celebratory Annual General Meeting that will convene government leaders, investors, and entrepreneurs to highlight those who have contributed to our economic landscape and explore the next phase of economic opportunities for the islands.

As Invest TCI enters its second decade, its mission remains clear: to drive sustainable investment that benefits the people of the Turks and Caicos Islands, builds resilient industries, and strengthens the country’s position on the global investment stage.

Looking ahead, Invest TCI will prioritise a better investor experience through innovative experiences and resources while adopting AI for a seamless process. Invest TCI reaffirms its commitment to continued outreach across the islands to ensure that every community can participate meaningfully in the country’s economic future.

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Cruise Decline Emerges as Turks and Caicos Tourism Watchpoint

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By Deandrea Hamilton | Editor

PROVIDENCIALES, Turks and Caicos Islands – While the Turks and Caicos Islands continues to celebrate growth in its high-value overnight visitor market, tourism data shared in April 2026 suggests another critical sector of the industry deserves closer attention.

Experience Turks and Caicos reported that stayover arrivals climbed five percent during the first quarter of 2026, with 203,587 visitors between January and March—10,557 more than during the same period in 2025.  March, traditionally the destination’s strongest month for overnight tourism, also posted a three percent increase over the previous year.

But tucked within the same report was another statistic moving in the opposite direction.

Cruise passenger arrivals fell by 16 percent during the first quarter, with 344,287 passengers visiting the destination compared to the same period in 2025.  Preliminary figures for March also showed a seven percent year-over-year decline to 116,911 passengers—even though the destination welcomed an additional cruise ship call during the month.

The report offered no explanation for the decline, placing its emphasis instead on the continued strength of the stayover market and a series of international marketing initiatives designed to sustain overnight visitor growth.

Among those efforts are a partnership with TravelView to distribute destination videos to more than 80,000 travel advisors across the United States, expanded engagement with travel professionals in the United Kingdom through the UNITE Caribbean programme, and increased participation in tourism trade shows in Canada and Latin America.

Those initiatives are aimed primarily at attracting overnight visitors—travelers who typically stay longer and generate significantly more spending within the local economy than cruise passengers.

However, the decline in cruise arrivals raises important questions, particularly for Grand Turk, where the cruise industry remains a major economic driver supporting taxi operators, tour companies, restaurants, retailers and other small businesses that depend heavily on ship calls.

Following publication of the report, Magnetic Media was informed that cruise arrivals have been trending downward, suggesting the first-quarter figures may not represent a one-time fluctuation but part of a broader pattern.

If that is the case, industry observers will be looking for answers.

The report does not indicate whether the decline reflects changes in cruise line deployment, smaller vessels serving Grand Turk, reduced passenger occupancy, itinerary adjustments, or increasing competition from other Caribbean destinations.

Whatever the cause, the contrast between the two sectors is striking.

One segment of the tourism industry continues to post record gains through expanded air service and targeted destination marketing. The other appears to be facing headwinds that have yet to be publicly explained.

For the Turks and Caicos Islands, where tourism remains the country’s economic engine, understanding the reasons behind diverging performance in the stayover and cruise sectors will be essential to long-term planning.

As the destination moves into the traditionally slower months of the tourism calendar, attention is likely to turn not only to sustaining growth in overnight arrivals but also to whether the Government and Experience Turks and Caicos can identify the factors behind the cruise slowdown and outline a strategy to reverse what now appears to be an emerging trend.

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FIRST FOCUS FOR PARNELL: “LISTEN”

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New PDM Leader says rebuilding the party begins with hearing its members—and the people.

 PROVIDENCIALES, Turks and Caicos Islands — Newly elected People’s Democratic Movement (PDM) Leader Doug Parnell says his first priority is neither launching attacks on the Government nor unveiling sweeping policy proposals.

Instead, he says his first assignment is simple.

Listen.

In his first interview since delegates elected him leader of the opposition party, Parnell told Magnetic Media that rebuilding the PDM begins by rebuilding trust—first within the party itself and then across the Turks and Caicos Islands.

“My first step is unity inside the party, then renewed connection with the people outside the party,” Parnell said.

Returning PDM Leader Doug Parnell once again takes the helm of a party seeking to recover from successive general election defeats and reconnect with voters who have repeatedly chosen the governing Progressive National Party.

Parnell says that work begins by listening.

His immediate plans include meetings with former party leaders, elected members, officers, candidates, caretakers, branch representatives, youth, women and supporters across the islands before expanding those conversations to the wider public.

“We must listen internally first, then take that same spirit of listening to the country,” he explained.

While many expected the new opposition leader to use his first interview to sharply criticize the Washington Misick administration, Parnell deliberately shifted the conversation away from partisan politics.

“I do not want to make this only about the PNP,” he said.

“The more important issue is what the people of this country are experiencing.”

Instead, he outlined what he believes are the issues weighing most heavily on the public: rising living costs, housing affordability, crime, pressures facing local businesses and uncertainty among young people about whether they have a meaningful future in their own country.

“The issue is not political quarrelling,” he said. “The issue is that too many people feel the country is moving, but they are being left behind.”

He also argued that a widening wealth gap has emerged and said the government has failed to adequately address it.

Asked why he decided to seek the party’s leadership again after spending years largely outside the political spotlight.

“I disagree with that characterization,” he responded.

He acknowledged that anyone involved in public life experiences moments of disappointment but said those moments should never outweigh one’s responsibility to serve.

“Frustration does not remove responsibility,” he said.

“I am not here for personal glory. I am here to steady the ship and help rebuild trust.”

That theme of stability and unity echoed throughout his responses.

Parnell repeatedly stressed that the leadership contest is now behind the party and that healing divisions must become the immediate focus.

“The contest is over. The work of unity begins now.”

He said delegates placed their confidence in him because they believed he understood the party’s history and was prepared to work with supporters and former rivals alike.

“We cannot afford division. We cannot afford bitterness,” he said, adding that the country deserves a serious and united opposition capable of holding any government accountable.

For Parnell, the task ahead extends beyond rebuilding party structures.

He says the PDM must become more visible, more connected and more responsive to the everyday concerns of Islanders.

“What I bring is steadiness, experience and a willingness to listen,” he said.

“The PDM has a proud history, but the public wants to see us more present, more united and more connected to the issues affecting their daily lives.”

The new leader insists the effort is larger than any individual.

“This is not about one man,” Parnell said. “It is about bringing the PDM together again so we can serve the people better.”

Whether that message resonates with voters will unfold over the months ahead.

For now, Doug Parnell has made one thing unmistakably clear.

His first order of business as leader of the People’s Democratic Movement is to listen.

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Paper Work Permit Applications End July 1 as TCI Goes Fully Digital  

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PROVIDENCIALES, Turks and Caicos Islands – The way employers apply for work permits in the Turks and Caicos Islands is about to change significantly, with the Government eliminating paper applications in favour of a fully online system beginning this week.

Effective Wednesday, July 1, all work permit applications must be submitted electronically through the Government’s Application Processing System (APS), according to the Ministry of Immigration and Border Services.

From that date, paper applications will no longer be accepted, marking one of the most significant administrative changes to the work permit process in recent years.

Previously, employers, applicants and authorised agents completed paper forms and submitted application packages, along with supporting documentation, through the Department of Employment Services for processing.

Under the new arrangement, applications and all supporting documents must instead be completed and uploaded through the APS portal.

The Ministry says the transition is another step in the Government’s broader digital transformation agenda and is intended to modernise immigration and employment services, improve operational efficiency, enhance customer service and provide a more streamlined and transparent application process.

Officials are encouraging employers and applicants to familiarise themselves with the online platform before the new requirements take effect and to ensure all supporting documentation is available when preparing applications.

Recognising that not everyone has ready access to computers or the internet, the Government has established APS application stations at all Department of Employment Services offices across the Turks and Caicos Islands. Members of the public who require computer access may use these stations during normal business hours.

The Ministry says the online platform is designed to strengthen the integrity of the work permit application process while making public services more accessible.

Persons requiring assistance with the new system are encouraged to contact the Department of Employment Services or visit one of the designated APS application stations.

While the digital application process is being promoted as a significant advancement in public service delivery, it remains unclear whether the move to a paperless system will also result in shorter wait times or more expeditious processing of work permit applications.

That may ultimately become the true measure of the system’s success as employers and applicants adjust to the new process.

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