Full of potential for investors

The island’s private sector backs the government’s belief that Tobago is full of potential for investors. “In comparison to other Caribbean islands, Tobago is a less crowded market,” says Curtis Williams, chair of the Tobago Division of the Trinidad and Tobago Chamber of Industry and Commerce.  “When you come in to do business, it’s very easy to move from one step to the next and, as the business environment continues to improve and new projects are being developed, Tobago offers exciting perspectives for investors.”

As a leading advocate for sustainable business growth and development on the island, the chamber has helped to promote its conducive business climate. Its mission is to lobby authorities for policies that benefit the business community, as well as to provide networking opportunities and other services to its members that support the development of their enterprises.  For example, it has recently opened a business advisory services unit that offers guidance, mentorship and advisory resources to both startups and established companies. “We also aim to position Tobago as a business hub while ensuring that the island’s unique natural environment and cultural identity are respected. That’s critical for us here,” he adds. 

More than just a tourism destination

The chamber views the government’s upcoming divestment of the vast Magdalena Grand Beach and Golf Resort, alongside the proposed development of substantial internationally branded tourism projects, as positive steps toward the sector’s revitalization. “This reflects growing investors’ confidence in Tobago’s tourism potential and will attract more private investment and expertise, enhancing the island’s competitiveness as a premium tourism destination,” Williams states.  “However, the chamber emphasizes the need for careful planning, ensuring that projects align with Tobago’s sustainable tourism strategy and environmental goals. With proper management and investment, Tobago can attract a higher volume of visitors by expanding eco-friendly  and culturally enriched experiences.”

As Williams is keen to stress, “Tobago has numerous opportunities for investment beyond tourism, particularly in areas such as agriculture and renewable energy. The chamber is also supporting local entrepreneurs in various other sectors, including manufacturing, technology and the green economy.” He is optimistic about the island’s economic future, not least because of the imminent completion of its airport’s expansion project. “There will be more airlift coming in and more guests, which will create a need for more high-end room stock, agricultural products and other goods, logistics and tourism services, attractions and cultural activities, because these hotels will need cultural activities. It’s a whole trickle-down effect and I’m looking forward to that,” he enthuses.

Williams would encourage potential investors to take a look at what the island offers. “Tobago is more than just a beautiful vacation destination. It’s a vibrant island with rich cultural heritage, on top of representing a business opportunity and being home to forward-thinking entrepreneurs,” he says. “The chamber is committed to fostering an environment that welcomes both local and international enterprises, ensuring that business grows in a manner that benefits all stakeholders, while preserving the island’s nature. Our goal is to keep Tobago’s unique warmth and natural friendliness intact.”