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TCI Records First Quarter of Negative Growth Throne Speech reveals

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By Deandrea Hamilton

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#TurksandCaicos, September 15, 2023 – The Turks and Caicos Islands economic hot streak is cooling; within the Throne Speech of September 14 it was explained that the Washington Misick Administration is monitoring the global economy for any trends which may offset the TCI’s fiscal buoyancy after recording negative growth in the first fiscal quarter of 2023-2024.

“My government will continue to watch the world economy and adjust as we see fit to ensure that our people are protected and have a chance for the best outcomes. The global economic contraction is cause for concern. For the first quarter, the TCI revenues were $109.8 million. That is $3.7 million or 3% below estimates.”

The decrease in government income follows two consecutive periods of banner performances in tourism and real estate.

In delivering the message penned by Hon C. Washington, Misick, the Premier of the Turks and Caicos Islands in the Throne Speech, the governor, on his behalf said: “Mr Speaker! The 2022/23 Financial Year was challenging for my government and the people of these islands, but through the mercies of God, we finished the year with much to celebrate and much to be thankful for.

Mr. Speaker! While the TCI’s economic prospects are tied to the rest of the world, this little country is doing far better than many larger economies.

The economy has recovered fully from the downturn caused by the COVID-19 pandemic and over the last two and a half years has seen consistent growth,” said H.E. Daleeni Daniel-Selveratnam, Governor of the Turks and Caicos Islands.

The IMF has warned that the global economy is poised to slow.  Already, Canada is reporting that it has had a first quarter of negative growth.  Now, the Turks and Caicos is revealing the same.

“As we enter this legislative year, we must be mindful that as a tourist-dependent economy, we will remain vulnerable to global economic conditions.

That is why my government is striving to build an economy that has a strong foundation, is sustainable, diversified and above all gives every islander and resident an equal opportunity to create the best life for their families.”

The government explained in that parliamentary speech that while there have been pioneering strides in devising savings’ plans, managing debt, decreasing unemployment and raising salaries, according to the Speech, the Turks and Caicos is not absolved from external shocks.

“The Russia-Ukraine war continues to have a negative impact on us.  Over the last year, we have seen the cost of fuel and food increase significantly.

My government is mindful of the hardships that many families are facing. As we have done over the last two and a half years, we will continue to find ways to ease the burdens.”

Governor Daniel-Selveratnam, on behalf of the PNP Administration shared that spending will not be paused on previously touted Government initiatives.  In fact, it was announced that crowd Funds and Programs are advancing.

“The National Wealth Fund stands at $50.8 million. This is a testament to our journey toward posterity. It is a testament to an economy built to withstand external shocks and has the ability to bounce back quickly after a catastrophic event or natural disaster. The fund is valued at about 4% of the Gross Domestic Product (GDP). It is distributed in four specific ways:

  • The Stabilisation Fund has the lion’s share with $30.7million
  • The Infrastructure and Competitiveness Fund has $8.8 million
  • The Heritage Fund has $4.3 million and
  • Citizen’s Empowerment Fund $7 million. The first project of the Citizen’s Empowerment Fund is the creation of the National Credit Union to benefit all status holders and British Overseas Territories Citizens (BOTCs) who live in the TCI. I am happy to report that this is well underway.”

The Speech reflected on raised salaries for the Public Sector, establishment of an e-system to support a government worker pension fund and $1 Million invested in a reverse osmosis system for the once beleaguered facility in Grand Turk.

However, in addition to earnings being down for the first quarter, government spending dropped significantly.

“Total Expenditure was $20.9 million below estimates.  These results are for the 1st quarter only and could change.”

The Turks and Caicos is courting investments and in the Throne Speech, the nation learned of infrastructural projects which have the potential to boost earnings for the country, however, at no point in the presentation was the topic of economic diversification broached; no mention of new earnings streams and no mention of the current number two and three industries: Financial Services and Agriculture adn Fisheries.

The absence of potential remedies to the heavy reliance of Turks and Caicos on Tourism, raises questions about how the government plans to broaden the recurrent revenue stream or weather a possible global recession.

The Throne Speech was delivered to a packed galley on Thursday September 15, 2023 at the House of Assembly in Grand Turk.  It was the first Throne Speech for Her Excellency Daleeni Daniel-Selveratnam as the newest governor of the Turks and Caicos Islands.

Bahamas News

Bahama Brass Band Invitation Sparks Heritage Debate Ahead of TCI Constitutional Holiday

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Turks and Caicos, August 20, 2026 – The planned participation of the Bahama Brass Band in the Turks and Caicos Islands’ inaugural Constitutional Holiday celebrations on August 30 has sparked public debate over culture, heritage and the historical contributions of Turks and Caicos Islanders abroad.

Organizers defended the invitation, saying the band’s inclusion is intended to highlight the deep historical ties between the two countries and honor Turks and Caicos men who helped establish and develop the institution in Grand Bahama.

According to the organizers, the Bahama Brass Band began in 1955 in Pine Ridge, Freeport, with Turks and Caicos Islanders, including the late Deacon Reuben Hall Sr. of Middle Caicos and Jenkins Williams and Mervin Hendfield of North Caicos, among those who helped build its foundation. The band eventually grew to more than 50 men.

The organizers also pointed to the participation of Turks and Caicos men in The Bahamas’ Independence celebrations on July 10, 1973, arguing that their contributions became part of Bahamian history while maintaining strong connections to their homeland.

Supporters say bringing the band home represents an opportunity to honor those pioneers, showcase their regional influence and expose younger generations to an important part of Turks and Caicos history.

However, concerns raised publicly described the invitation as potentially disrespectful to local culture and heritage. Organizers acknowledged those concerns, apologizing to anyone who felt overlooked or offended, while maintaining that no disrespect was intended.

The committee said the event should ultimately unite rather than divide, presenting the band’s history as evidence of the reach and resilience of Turks and Caicos heritage.

PHOTO CREDIT: Bahamas Brass Band

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BermudAir Launches New York Area’s First Nonstop Service to South Caicos, Now Just a 3.5 Hour Flight from Newark

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Twice-Weekly Nonstop Flights Begin December 20 with Fares from $347 One Way, Creating Direct Access to Salterra Resort & Spa

– New Route Expands BermudAir’s Winter Turks & Caicos Network –

 

[New York, NY – August 20, 2026]BermudAir, the leading premium leisure carrier to Bermuda and the Caribbean, today announced it will introduce nonstop flights to South Caicos from Newark this winter.  The route places one of the Caribbean’s most secluded island destinations just 3.5 hours from the New York area for the first time.

The new service starts on December 20, 2026, operating on Sundays and Thursdays, and will be the only nonstop service to the destination from the New York area.  This seasonal service will operate through April 25, 2027.  Fares start at $347 one way ($773 roundtrip) and go on sale today.

The new South Caicos route creates gives travelers two distinct luxury resort options, with direct access to Salterra, A Luxury Collection Resort & Spa, recently named the No. 1 resort in Turks and Caicos by Condé Nast Traveler.

Set across 85 beachfront acres with a 3,000-foot private white-sand beach, Salterra brings a full luxury resort experience to an island still defined by its historic salinas, pristine waters, bonefishing flats and uninhabited cays. Upon landing at South Caicos International Airport (XSC), guests are approximately 10 minutes from the resort.

While flights go on sale today, the airline’s BermudAir Holidays vacation-packaging division will offer curated travel to South Caicos from next month, featuring flights, hotels and authentic island experiences, with bundled discounts and value-added perks, making it even easier to explore the destination.

Previously BermudAir announced seven new routes to Providenciales in Turks and Caicos, from Newark (EWR), Boston (BOS), Baltimore-Washington (BWI), Raleigh-Durham (RDU), Fort Lauderdale (FLL), St Petersburg/Tampa (PIE) and Toronto (YYZ) which will all start in December except for Fort Lauderdale which begins October 26.

Expanded Winter Season

  • To South Caicos:
  • Twice-weekly nonstop from Newark (Sundays and Thursdays) from December 20 through April 25, 2027.
  • To Turks and Caicos:
  • Weekly nonstop from Newark (Saturdays) and one weekly direct service (Thursdays) from December 19 through April 29, 2027;
  • Weekly nonstop service from Boston (Saturdays), from December 19 through May 1, 2027;
  • Weekly nonstop service from Baltimore-Washington (Thursdays), from December 24 through April 29, 2027;
  • Twice-weekly nonstop service from Raleigh-Durham (Thursdays and Sundays), from December 20 through May 2, 2027;
  • Thrice-weekly service from Fort Lauderdale (Mondays, Wednesdays and Fridays), from October 26 through May 3, 2027;
  • Twice-weekly nonstop service from St Petersburg/Tampa (Mondays and Thursdays), from December 21 through May 3, 2027; and
  • Weekly nonstop service from Toronto (Saturdays), from December 19 through May 1, 2027.

“We’re thrilled to continue expanding our Caribbean network as the premium leisure carrier from North America,” said Adam Scott, Founder and CEO of BermudAir. “Now New Yorkers can fly nonstop to two distinct sides of the Turks and Caicos Islands — Providenciales and the secluded island of South Caicos, home to the exquisite Salterra and Sailrock South Caicos resorts.”

The airline consistently earns Net Promoter Scores of 70+, one of the highest ratings in the airline industry.  All flights will be operated on comfortable Embraer E190 aircraft, offering passengers the airline’s signature warm service and authentic island hospitality.

“South Caicos has always felt worlds away, and that is part of its magic,” said Michael Tibbetts, Founder and CEO of Salterra. “Beginning this winter, guests can fly nonstop from Newark in 3.5 hours, land at one of the newest international airports in the region and be at Salterra minutes later. This route makes a long weekend escape and an extended stay to one of the Caribbean’s most unspoiled islands remarkably easy, without changing the sense of discovery that makes South Caicos so special.”

For more information or to book flights, visit www.flybermudair.com. Salterra will offer dedicated stay packages timed to BermudAir’s Thursday and Sunday nonstop service. To book a stay at Salterra, A Luxury Collection Resort & Spa, visit www.salterra.com

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Bahamas News

CBC Supports Opportunities for Young Bahamian Basketball Players

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NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers of Dasani products, proudly sponsored the fifth annual, Caribbean Hoopfest.

The tournament brings together Bahamian high school basketball teams and visiting teams from the United States for a competitive showcase at the Kendal G. L. Isaacs Gymnasium.  Following its inaugural year at the Kendal G. L. Isaacs gym and last year’s event at Loyola Hall, the tournament returned to the Kendal G. L. Isaacs gym this year.

During the weekend tournament, CBC kept athletes well hydrated with in-kind donations of Dasani Water, Powerade and Minute Maid Juices.

During the tournament’s final day, CBC provided additional support by offering Sprite No Sugar samples and inviting attendees to participate in its Spin the Wheel for a chance to win exciting prizes.

CBC was proud to support this incredible event, which provides young Bahamian athletes with valuable exposure to U.S. basketball scouts and coaches. This opportunity gives them the chance to earn scholarships, continue their education, and pursue their basketball careers in the United States.

Event organizer, Donald Francois shared his appreciation for CBC’s support.

“I want to express our sincere appreciation for Caribbean Bottling Company, who has been a tremendous supporter and an important part of the success of our program. Without CBC’s support, Caribbean Hoop Fest would not be able to function at the level it does today. And without Caribbean Hoop Fest, we would not have been able to provide the opportunities that have helped young Bahamian athletes gain exposure and pursue educational opportunities in the United States,” he expressed.

Since the program’s inception, several Bahamian student-athletes have been selected for scholarship opportunities, highlighting the tournament’s growing impact on the development and advancement of young basketball talent in The Bahamas.

They are: Kelvin McDowells – Guard, Wodson Antoine – Power Forward, Justin Lafleur – Guard and Sean John – Guard.

After another successful edition of the tournament, Francois shared what he hopes he and Caribbean Bottling Company can achieve in the future.

“Our vision is bigger than basketball. We want to use the platform of Caribbean Hoop Fest to educate, develop, and create opportunities for young people and their families throughout the Bahamas. With individuals and organizations committed to our mission, we believe we can continue to grow the program and make an even greater impact,” Francois said.

For more details on community support, events and new products visit Caribbean Bottling Company at www.cbcbahamas.com today.

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