While education remains one of the great strengths of Trinidad and Tobago’s economy, a scenario of negative growth is raising questions of quality, cost effectiveness, efficiency, and the relevance of higher education and skills training for the country’s changing labor market and broader macroeconomic environment. To assess the state of the education system, the newly elected government...
As Trinidad and Tobago continues to feel the impact of lower energy receipts, the tourism sector is emerging as a strategic development priority. Elected in September 2015, the government of Keith Rowley is placing a renewed emphasis on economic diversification to help the TT$175.99bn ($27.1bn) economy weather the downturn in the global energy market. Tourism, along with agriculture and...
As the largest exporter in the Caribbean, Trinidad and Tobago’s transport network is vital to the performance of its economy. The country is already a fast-growing air passenger and cargo hub in the southern Caribbean and is now looking to spur growth in the maritime sector, where it intends to take advantage of its sheltered location below the hurricane belt and its proximity to shipping...
In the past decade the Trinidad and Tobago telecoms and broadcasting industry has expanded into a dynamic sector of the economy. The Telecommunications (Amendment) Act of 2004 acted as a catalyst for the industry, with all segments of communications and entertainment liberalized simultaneously on the principle of fair competition. At present, T&T has four fixed-line and two mobile...
The Trinidad and Tobago real estate market’s fortunes have long been tied to those of the oil sector. Between 1991 and 2006 house prices more than quadrupled as the country’s hydrocarbons and petrochemicals industries grew strongly. This stoked a construction boom that led to the rapid development of grade-A office and residential properties. Following the 2008 financial crisis, prices dropped...
In his October 2015 budget speech, newly appointed finance minister Colm Imbert underscored the fact that Trinidad and Tobago’s manufacturing sector had fallen below 10% of national GDP. Estimates from the Central Statistical Office put the figure at 8.1% in 2015, with food, beverages and tobacco accounting for around 4.5% of GDP. Despite having the largest manufacturing base of any CARICOM...
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