TIMES.VG

BVI, Caribbeanand International News
TIMES.VG

Financial services sector praised for boosting tourism locally

Financial services sector praised for boosting tourism locally

Director of Tourism Clive McCoy has praised the financial services sector for the role it plays in encouraging major airlines to fly to the BVI.
Speaking at a recent breakfast forum hosted by BVI Finance, McCoy said persons who travel to the BVI for financial services business give the territory a chance to improve its airlift. 

“One of the things that’s very important to the BVI is airlift and we’ve had conversations about corporate travel. The better you (financial services) do and the more persons come into the territory for corporate travel, the easier it is for the BVI Tourist Board and the government to negotiate with airlines to come into the territory,” McCoy told leaders within the financial services industry. “Once we know the dates in terms of when people are coming and leaving the territory for corporate travel, we can better negotiate with these airlines.”

The financial services and tourism sectors are the biggest contributors to the BVI’s Gross Domestic Product but the links between the two are not often highlighted within the territory.

BVI’s financial services and tourism sectors interdependent

BVI Finance CEO Elise Donovan, who was also present at the forum, took time to highlight other ways in which both industries benefit from each other. As an example, she said the money the government earns from financial services helps to improve roads and social infrastructure that tourists also enjoy. 

She also said hotels benefit from corporate travel and added that revenue earned from financial services helps provide funds that the government use to market and improve the tourism product.

“I think it’s a symbiotic relationship — we are very much interrelated and interdependent,” Donovan said.

Recently, Premier Dr Natalio Wheatley said the government is exploring linkages between tourism and the financial services industry with the hope of finding new ways to capitalise and earn from these areas.
Newsletter

Related Articles

TIMES.VG
Close
0:00
0:00
WARNING GRAPHIC CONTENT - US Memphis Police murdering innocent Tyre Nichols
Almost 30% of professionals say they've tried ChatGPT at work
Interpol seeks woman who ran elaborate exam cheating scam in Singapore
What is ChatGPT?
Bill Gates is ‘very optimistic’ about the future: ‘Better to be born 20 years from now...than any time in the past’
Tesla reported record profits and record revenues for 2022
Prince Andrew and Virginia Giuffre Photo Is Fake: Ghislaine Maxwell
Opinion | Israel’s Supreme Court Claims a Veto on Democracy
Moonwalker Buzz Aldrin Gets Married On His 93rd Birthday
Who’s Threatening Israeli Democracy?
Federal Reserve Probes Goldman’s Consumer Business
China's first population drop in six decades
Microsoft is finalising plans to become the latest technology giant to reduce its workforce during a global economic slowdown
China's foreign ministry branch in Hong Kong urges British gov't to stop the biased and double standards Hong Kong report
Tesla slashes prices globally by as much as 20 percent
1.4 Million Copies Of Prince Harry's Memoir 'Spare' Sold On 1st Day In UK
After Failing To Pay Office Rent, Twitter May Sell User Names
Lisa Marie Presley, singer and daughter of Elvis, dies aged 54
FIFA president questioned by prosecutors
Britain's Sunak breaks silence and admits using private healthcare
Hype and backlash as Harry's memoir goes on sale. Unnamed royal source says prince 'kidnapped by cult of psychotherapy and Meghan'
Saudi Arabia set to overtake India as fastest-growing major economy this year 
Google and Facebook’s dominance in digital ads challenged by rapid ascent of Amazon and TikTok
FTX fraud investigators are digging deeper into Sam Bankman-Fried's inner circle – and reportedly have ex-engineer Nishad Singh in their sights
TikTok CEO Plans to Meet European Union Regulators
UK chaos: Hong Kong emigrants duped by false prospectus
France has banned the online sale of paracetamol until February, citing ongoing supply issues
Japan reportedly to give families 1 million yen per child to move out of Tokyo
Will Canada ever become a real democracy?
Hong Kong property brokerages slash payrolls in choppy market
U.S. Moves to Seize Robinhood Shares, Silvergate Accounts Tied to FTX
Effect of EU sanctions on Moscow is ‘less than zero’ – Belgian MEP
Coinbase to Pay $100 Million in Settlement With New York Regulator
FTX assets worth $3.5bn held by Bahamas securities regulator
A Republican congressman-elect is under investigation in New York after he admitted he lied about his education and work experience.
Brazilian football legend Pele, arguably the greatest player ever, has died at the age of 82.
Hong Kong to scrap almost all its Covid rules
EU calls screening of travellers from China unjustified
US imposes Covid testing for visitors from China
Ukraine President Volodymyr Zelenskyy Addresses Joint Session of Congress - FULL SPEECH
If a country is denied the right to independence by another, it is not in a union. It is in a dictatorship.
Where is Rishi? Chancellor Jeremy Hunt's excuses about the UK's economic challenges just don't make sense
Former FTX CEO Bankman-Fried finally arrested in Bahamas after U.S. files charges
Corruption works: House Financial Services Chair Waters doesn't plan to subpoena her donor, Sam Bankman-Fried, to testify at hearing on FTX collapse
Ronaldo's new contract...
Prince William's godmother resigns honorary royal role after exposing her/their racism
British PM Rishi Sunak pledges further action on strikes to 'protect lives'
Tax fraud verdict again exposes illusion of Trump the master businessman
Tax fraud verdict again exposes illusion of Trump the master businessman.
Double standards: UK lawmakers attack EU chief over Ireland claims
×