PROVIDENCIALES, TURKS & CAICOS ISLANDS (STL.News) – Turks & Caicos Islands, the shining star of the Caribbean, continues to shine brightly as we see a steady influx of investor growth and activity in new development. The infrastructure improvements and ongoing utility upgrades will further improve to serve the luxury standards now set by our luxury home-grown brands and with the most recent entrance of world renowned brands such as Ritz-Carlton and Andaz.
The construction industry has been busy for the past five years as we have witnessed villa projects and new homes being built on recently sold land parcels. In addition, high end land purchasers who desired to build from scratch, or who could not find a home/villa that fit their needs, have embarked on some amazing new homes and estate homes, relying on the expertise of local architects, builders and consultants, proceeded to build their own custom dream vacation homes. There is evidence of this impressive array of private development throughout the Turks & Caicos, especially in the luxury sector, as the islands continue to grow as the destination of choice for many real estate investors and visitors.
At this years’ Caribbean Hotel & Resort Investment Summit, KPMG publicized its 15th annual Caribbean Hospitality Financing Survey, which highlights trends in the region’s hospitality and tourism industry and the outlook for the future. The survey shows TCI as one of the highly nominated countries within the Caribbean for investments by both banks and non-bank financing institutions, illustrated on the graph in our report. In recent press coverage, Invest TCI has stated that there are a whopping 64 countries considering Turks & Caicos Islands for future new developments.
In the tourism sector, the Turks & Caicos continues to receive yearly nominations and awards in the world’s best beach and world’s best island categories of several traveler nominated awards, such as Trip Advisors’ Travelers Choice Awards and The World Travel Awards. Numerous resorts have also received awards. For instance, The Shore Club was just voted the #1 Caribbean Resort by Travel & Leisure. This recognition speaks volumes for our country as our “Beautiful By Nature” tag line befits not only our beautiful beaches, waters and climate but also the people within who make your stay in the Turks & Caicos Islands a most pleasurable one.
View the full report on this link: http://thefinestcollection.com/MarketReport/July2019.pdf
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