标签： Trinidad and Tobago

The picturesque shores of Tobago’s Charlotteville waterfront remained unusually tranquil during the peak Christmas season, presenting a stark contrast to the typical holiday bustle. With minimal local activity and a conspicuous absence of international visitors, the scene encapsulated the severe challenges facing Tobago’s hospitality sector.

Tourism industry leaders have identified dual catalysts for this pronounced downturn: escalating military tensions between the United States and Venezuela, coupled with the ongoing state of emergency declaration. Reginald MacLean, President of the Tobago Hotel and Tourism Association, confirmed substantial declines in both advance bookings and actual tourist arrivals during what should be the island’s most profitable period.

MacLean, who simultaneously serves as general manager of Blue Waters Inn in Speyside, provided concrete metrics illustrating the sector’s struggles. His establishment operated at approximately 70% capacity during the critical holiday period—a significant reduction from the complete occupancy achieved during the same timeframe in 2024.

Industry-wide assessments confirm this pattern extends across the island. Alpha Lorde, former association president and current general manager of Mt Irvine Bay Hotel, characterized both the 2024 and 2025 Christmas seasons as ‘fairly dismal’ with no hospitality operators reporting strong performance.

Transportation infrastructure limitations have exacerbated the situation. MacLean emphasized that constrained flight availability and reduced ferry services have created fundamental capacity constraints preventing hotel occupancy recovery.

Industry executives have expressed frustration with governmental support levels. Despite official rhetoric about economic diversification beyond hydrocarbon dependence, tourism stakeholders perceive insufficient concrete action. Multiple attempts by Newsday to obtain comments from Chief Secretary Farley Augustine and Tourism Secretary Tashia Burris yielded no response.

The industry’s challenges accumulated throughout 2025, beginning with an initial state of emergency, progressing through electoral transitions and governmental changes, and culminating with renewed emergency declarations and geopolitical complications. Tourism professionals maintain cautious optimism that 2026 may bring improved circumstances and renewed visitor interest to Tobago’s hospitality sector.

Trinidad and Tobago’s foreign exchange crisis has evolved from a cyclical concern to a structural economic emergency, creating profound challenges for businesses and threatening the nation’s economic diversification goals. The widening chasm between official and parallel exchange rates—evidenced by street-level transactions offering TT$7.55 for one US dollar—signals deep market distortions with far-reaching implications.

Businesses across sectors, particularly small and medium enterprises and manufacturers, confront unpredictable access to foreign currency, resulting in operational delays, inflated costs from informal market premiums, and diminished competitiveness in international markets. This crisis transcends commercial concerns, impacting employment, pricing structures, investment decisions, and the nation’s broader economic transformation.

Four fundamental drivers underpin this crisis: an artificially overvalued TT dollar creating excess demand while discouraging official inflows; structural decline in oil and gas production reducing traditional forex earnings; heavy import dependency across essential goods; and self-perpetuating uncertainty causing businesses to hoard foreign currency rather than circulate it through formal channels.

Economic data reveals concerning trends: only two significant exchange rate adjustments since the 1990s, with rates effectively frozen since 2017. While foreign currency deposits within the banking system have grown substantially, this liquidity remains stagnant due to confidence issues and structural intermediation constraints. Energy exports continue dominating earnings while non-energy sectors struggle with uncompetitive production costs exacerbated by exchange rate misalignment.

Addressing this crisis requires moving toward market-reflective exchange rates despite inflationary concerns. Historical evidence suggests such adjustments, when supported by prudent monetary and fiscal policies, yield manageable inflation while enhancing competitiveness. Bringing parallel market activity into regulated frameworks through expanded licensed trading would establish true equilibrium pricing and reduce informal transactions.

Solving this national challenge demands coordinated action among government, central banking authorities, and private sector stakeholders. Priorities include encouraging foreign direct investment, enhancing export capacity, accelerating economically viable local production, and creating conditions where larger export-oriented firms can achieve forex self-sufficiency. The Trinidad and Tobago Chamber of Industry and Commerce emphasizes evidence-based solutions to safeguard economic resilience and sustainable growth for all citizens.

The Trinidad and Tobago Coalition of Services Industries (TTCSI) concludes 2025 with unprecedented achievements in member empowerment and sectoral development, positioning the services industry as the nation’s economic cornerstone. Under President Dianne Joseph’s leadership, the coalition has surpassed strategic objectives while establishing new paradigms for organizational support and national advocacy.

Throughout the year, TTCSI’s capacity-building initiatives, significantly enhanced by Unit Trust Corporation support, transcended conventional training to become instruments of economic inclusion. The integration of diverse organizations including the Blind Welfare Association, Montserrat Cocoa Farmers Co-operative, and Anime Caribe Organisation into specialized development programs demonstrates the sector’s universal applicability. This foundational work sets the stage for aggressive 2026 expansion targeting niche sectors and service export readiness.

TTCSI’s strategic media engagement transformed public education through expert knowledge sharing across critical disciplines. Members delivered essential insights on health and safety protocols, human resources management, architectural technicalities, and facility management priorities. The coalition’s educational campaign clarified industry distinctions such as pest management versus pest control while highlighting the creative sector’s economic significance.

International recognition underscored TTCSI’s global impact as member organization TTIFMA received the Small Chapter of the Year award from its international parent body, with President Edward Kacal earning the Distinguished Member Award. These accolades validate Trinidad and Tobago’s service professionals as world-class competitors when provided with adequate growth platforms.

The coalition’s geographic expansion to Tobago proved particularly successful, with Ruazz Fine Dining Restaurant exemplifying how tailored advocacy strengthens SME competitiveness. Tobago’s service sector engagement revealed that empowering small and medium enterprises represents the most direct pathway to national economic advancement.

TTCSI identifies service exports as a fundamental solution to foreign exchange challenges, emphasizing that exported services translate national competence into retained high-value income. The coalition aligns with the Ministry of Trade, Investment, and Tourism’s vision to accelerate SME internationalization through enhanced brand awareness, product differentiation, and employment scaling.

Strategic partnerships remained central to 2025 operations, with TTCSI emphasizing governance best practices requiring aligned cultures, norms, and value systems. The coalition maintains that transparency, integrity, and open communication constitute non-negotiable components of successful alliances.

Looking toward 2026—designated as the Year of the Service Professional—TTCSI will expand membership categories to include individual professionals alongside corporate entities. This evolution acknowledges that service excellence represents the critical differentiator in every successful transaction, where poor service delivery frequently outweighs product quality in customer retention.

The coalition commits to making service standards a national priority through global and local partnerships focused on total excellence. Despite governmental fiscal constraints surrounding the $59 billion 2026 budget, TTCSI stands ready to fuel sustainable, ethical, and professional growth engines that ultimately contribute to nation-building.

Caribbean Airlines Cargo has significantly enhanced its European market presence through strategic alliances with two prominent General Sales and Service Agents (GSSAs). This development establishes a bilateral trade corridor that facilitates smoother commercial exchanges between Caribbean and European markets.

The aviation division has appointed APG Inc. Western Europe and ANA Aviation Services Ltd. as its official representatives across numerous European territories. APG Inc. will oversee cargo operations for Caribbean Airlines (coded BW) across an extensive network comprising 24 European countries, including major economies such as Germany, France, Italy, Spain, and the Nordic regions. This comprehensive coverage spans from Andorra to Vatican City, ensuring widespread market penetration and operational visibility.

Concurrently, ANA Aviation Services Limited, operating under its commercial identity Network Airline Services, will manage the airline’s cargo interests throughout the United Kingdom. Leveraging its established industry expertise and robust regional presence, the organization will provide cargo solutions across England, Scotland, Wales, and Northern Ireland.

Marklan Moseley, General Manager of Cargo and New Business at Caribbean Airlines, emphasized the strategic importance of these partnerships: “These collaborations are engineered to deliver seamless, reciprocal trade facilitation for our clientele on both continents. With APG and Network Airline Services, shippers now benefit from reliable local contacts possessing profound market understanding and dedication to service quality that mirrors our commitment to customer excellence.”

The newly formed partnerships are projected to generate enhanced commercial opportunities while providing customers with localized support for bookings, pricing structures, and service-related inquiries. This expansion represents Caribbean Airlines Cargo’s continued dedication to strengthening transatlantic trade connectivity and reinforcing its position as a key logistics provider between the Caribbean and European markets.

In an innovative twist on Trinidad’s holiday traditions, home-based entrepreneurs are transforming classic Christmas beverages into cannabis-infused medicinal products, creating an unexpected but lucrative market. While cannabis remains largely illegal for sale and public consumption in Trinidad and Tobago, artisans are leveraging social media to build demand for therapeutic-infused versions of ponche de creme and sorrel—traditional holiday drinks typically enjoyed during the festive season.

The movement gained momentum during the pandemic when hospitality workers facing unemployment sought alternative income sources. Tron, founder of Rum and Resin, launched his operation with a team of retrenched workers, while Blue established Bloom Delights—both operating anonymously due to legal constraints. Their businesses have evolved from side hustles into full-time ventures, responding to growing consumer demand for diverse cannabis delivery methods beyond conventional edibles.

These entrepreneurs emphasize the medicinal rather than recreational applications of their products. Their offerings include cannabis-infused teas for sleep and immunity support, as well as formulations using marijuana roots to address asthma and gout. Customer bases consist primarily of professionals and parents seeking relief from anxiety, depression, and stress-related conditions. One notable case involves a woman using cannabis products to supplement treatment for hormonal thyroid issues when conventional medications proved unavailable locally.

Global shifts in cannabis perception are influencing local attitudes. The recent reclassification of marijuana under the U.S. Controlled Substances Act from Schedule I to Schedule III—recognizing its medical applications—has created ripple effects in Trinidad’s underground market. This scientific validation coincides with findings from the FDA supporting cannabis use for treating anorexia and chronic pain.

Despite growing acceptance, legal barriers persist. The Dangerous Drugs (Amendment) Act of 2019 decriminalized possession of up to 30 grams of cannabis but maintained prohibitions on sales and public consumption. This legal limbo forces artisans to operate in a gray market, limiting production scales and creating quality control challenges. Some unscrupulous vendors reportedly use imported marijuana or synthetic additives that compromise therapeutic properties and consumer safety.

Political change may be imminent. The United National Congress party has pledged to develop a regulated cannabis industry for medical and export purposes if elected, projecting a global market worth over $100 billion by 2030. Their proposal includes support for small farmers, quality control systems, and age restrictions prohibiting use under 25.

For now, entrepreneurs like Tron and Blue navigate significant legal risks while advocating for reform. As Blue notes, ‘Most people in this industry understand the medicinal benefits—it’s about making money while giving back to society. What we need is a proper framework to prevent abuse.’ Their success demonstrates both the economic potential and therapeutic value of a properly regulated cannabis industry in Trinidad and Tobago.