Amid fluctuating international arrivals, cruise ship tourism has stepped up and may be set to start fulfilling its significant potential in T&T after four consecutive years of steady growth. The country welcomed 100,791 cruise passengers in the 2015/16 season, up 115% on the previous season and surpassing 100,000 for the first time since...
Since taking office in September 2015, the government of Prime Minister Keith Rowley has been looking into the development of affordable housing with the twin objectives of meeting the needs of lower-income families and using the construction industry to stimulate employment and economic recovery. In December 2015, Rowley said his government...
A diverse real estate market exists in Trinidad and Tobago, focused on domestic home ownership and rental, tourism-related property sales and rentals, and commercial property and office space. There are several hundred active real estate agents operating across T&T. The central bank classifies these activities as part of the wider “finance...
Trinidad and Tobago has a long history as a transport hub. On his first trip to the region in 1595, British explorer Walter Raleigh considered the Gulf of Paria, away from the hurricane belt to the north, to be a suitable port. He found the ideal source of asphalt for caulking his ships in Pitch Lake and could use the naturally sheltered...
The construction industry is an important part of the local economy, accounting for almost 5% of GDP. Central bank data projected this figure would fall to 4.7% in 2016, a 0.2-percentage-point decrease from the year before. The bank also expected the construction and quarrying segment would contract by 7.6% in 2016. This downturn in...
Trinidad and Tobago’s manufacturing sector is the largest in the English-speaking Caribbean. In 2016 it was expected to represent 7.8% of total GDP, with total output worth an estimated TT$8.29bn ($1.2bn), according to the government’s estimates in the “Review of the Economy 2016”. This made it the third-largest sector of the economy after the...
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