Business View Caribbean l March 2023

63 BUSINESS VIEW CARIBBEAN VOLUME 10, ISSUE 2 “Our government and private sector’s strong relationship demonstrates that we possess a strong resilience in terms of ability to physically recover,” says Premier Misick. More indicators of the strong economy are the current projects on the go, including investments in the tourism sector. And all the projects have a triple-bottom-line sustainability focus. This requires operating under tremendous pressure to complete work faster without hurting the most crucial island asset - its environment. With this being said, Turks and Caicos know that while it is blessed with natural beauty, it needs to diversify its revenue streams. This vision is a long-term objective that the islanders are working towards. “One of the main reasons we’re able to do so well is our proximity to our main market source, nature. But now we’re looking at supplementing what our island naturally offers with activities and attractions,” says Premier Misick. In the next few weeks, the islands will revamp and transform the way they do tourism. Turks and Caicos Islands are becoming more modern in their destination marketing and management to be more intentional about reaching their target demographic. It’s also planning to be more inclusive in its growth, allowing more domestic businesses to participate in the tourism sector. In many scenarios, capital is exported out of Caribbean nations to big international companies. Turks and Caicos Islands want, however, to retain the tourist dollars domestically. initiatives is focusing investments into small businesses, from agribusiness to the blue and orange economy, and feeding back into the tourism sector, allowing Turks and Caicos to retain tourism money in the country. This requires close ties between business and government. Businesses in Turks and Caicos Islands relationship with the government, which was tested regarding the COVID plan. The government, with businesses, cautiously closed down borders and operations early, adopting a strict vaccination program. This meant