As the political, economic and migration crisis rolls on in Venezuela, a significant number of refugees continue to make their way to Trinidad and Tobago. This had led to concerns over the possible economic consequences of the recent influx. In June 2019 the UN estimated that 40,000 people had arrived to T&T. As migrants now make up 2.9% of T&T’s population – the...
The twin-island nation of Trinidad and Tobago is located in the southern end of the Caribbean, just off the coast of Venezuela. Its rich and varied heritage lends itself to a vibrant society and cuisine spawned from an array of ethnicities and religions. The islands have also positioned themselves as a regional centre for culture and sport, attracting 197,700 tourist arrivals...
While public-private partnerships (PPPs) have been used to finance projects in Trinidad and Tobago since the 1990s, the model formally gained institutional backing in 2011 with the creation of a specific policy unit, known as the PPP Unit, which operates within the Investments Division of the Ministry of Finance. Despite this, unlike other Caribbean countries such as Jamaica,...
Following a period of subdued activity, a steady flow of projects in 2019 have seen Trinidad and Tobago’s construction industry experience healthier growth in recent years. However, obtaining private sector funding remains a challenge, due to a decline in banks’ lending activity. Nevertheless, in November 2019 Glenn Mahabirsingh, president of the T&T Contractors...
Trinidad and Tobago’s housing market has fluctuated over recent decades in line with international oil prices and the overall health of the global economy. The sector grew rapidly between 1991 and 2006, with the most notable development occurring in the capital, Port of Spain, and the areas close to Point Lisas, the centre of the country’s petrochemicals industry. However,...
Around 55% of the world’s population – or 4.2bn people – lived in urban areas in 2018, up from 47% in 2000, according to the UN. Because of the rapid rate of urbanisation, this figure is expected to reach 68% by 2050, with growth concentrated in Latin America, the Middle East and North Africa (MENA), sub-Saharan Africa and Asia. The shift towards the cities put the onus on the...
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