标签： Trinidad and Tobago

Economist and Independent Senator Marlene Attzs has issued a stark warning to Trinidad and Tobago’s business community about the looming threat of catastrophic “black swan” events that could devastate even well-established enterprises. Speaking at a conference hosted by the TT Extractive Industries Transparency Initiative and the TT Chamber of Industry and Commerce on January 13, Attzs described these events as a dangerous convergence of unpredictable shocks that could derail the most carefully laid business plans.

The urgency of this warning is underscored by recent developments in the local business landscape, including Newsday’s announcement of its winding-up process after more than three decades of operation. Managing director Grant Taylor attributed this decision to a “perfect storm” of challenges, mirroring similar struggles across multiple industries from energy to retail and entertainment.

Attzs emphasized that these black swan events may already be unfolding, citing recent airspace compromises that forced flight cancellations as a potential precursor to more significant disruptions. She pointed to escalating geopolitical tensions, including the US-China rivalry and renewed Russian activity, as factors that could create concentric circles of impact affecting even peripheral economies like Trinidad and Tobago.

The conference panel, which included TTEITI co-ordinator Sherwin Long, senior fellow Preeya Mohan, and chairman Gregory McGuire, identified multiple systemic risks to the national economy. Chief among these is the country’s persistent dependence on the volatile oil and gas sector, which continues to drive GDP fluctuations and government revenue instability.

Long revealed that between 2011 and 2024, the upstream energy sector contributed US$17.3 billion in foreign exchange, with companies like bpTT and NGC providing over US$7 billion. However, he noted that this volatility is largely driven by external factors beyond local control, including global energy prices, demand-supply imbalances, and geopolitical tensions.

Attzs highlighted additional concerns regarding the nation’s economic dependence on government support and rising debt challenges. Latest data indicates Trinidad and Tobago’s debt-to-GDP ratio has reached 85 percent and continues to climb, creating fiscal constraints that could limit the government’s ability to respond to economic crises.

Mohan addressed emerging trade-related risks, particularly the Carbon Border Adjustment Mechanism (CBAM) and adjustments to tariff regimes. She warned that 90 percent of TT’s exports to the EU—accounting for 14 percent of total exports—could be affected by CBAM, while half of exports to the US (30 percent of total) face similar exposure. These mechanisms could increase taxes on the ammonia sector by 22 percent, though implementation of emission reduction technologies like carbon capture could mitigate these impacts.

The consensus among experts is that data-driven preparedness represents the most effective defense against these converging challenges. Attzs urged businesses to professionalize, modernize, and leverage available data to build resilience, conduct thorough risk analyses, and develop strategic plans for survival in an increasingly uncertain global economic landscape.

In a significant shift from traditional migration patterns, professionals and families from Trinidad and Tobago are increasingly looking toward Southeast Asia as viable relocation destinations. While the United States, Canada, and the United Kingdom have historically dominated migration conversations, these routes have become progressively challenging due to visa backlogs, stringent immigration policies, and escalating living costs.

Thailand has strategically positioned itself as an attractive alternative through comprehensive immigration reforms implemented over the past two years. The country now offers structured visa programs specifically designed to accommodate Caribbean nationals seeking short, medium, or long-term residence solutions. This development comes at a critical time when economic pressures are compelling individuals to reconsider conventional migration paradigms.

The financial advantages present a compelling case for consideration. Thailand’s comparatively lower cost of living enables foreign currency earners and digital professionals to achieve greater financial flexibility. Metropolitan centers like Bangkok and Chiang Mai offer substantially reduced housing expenses compared to Trinidad and Tobago, complemented by reliable utilities, affordable internet services, and diverse culinary options ranging from local cuisine to international fare.

Thailand’s immigration framework demonstrates remarkable flexibility through its visa-free entry policy for TT passport holders, permitting initial 60-day stays with optional 30-day extensions. This approach facilitates practical ‘trial periods’ where prospective migrants can evaluate living conditions before making long-term commitments. The geographical proximity to neighboring countries like Vietnam, Cambodia, and Laos further enables cost-effective regional exploration.

A distinctive advantage lies in Thailand’s family-inclusive visa policies, which contrast sharply with the complex family reunification processes typical of Western nations. Several long-stay visa categories permit spouses and children to accompany primary applicants, supported by expanding international education infrastructure offering British, American, and IB curricula across major cities.

Key visa options include:
– Destination Thailand Visa (DTV): Five-year validity for digital professionals and remote workers, allowing 180-day stays per entry
– SMART Visa: Four-year duration for specialists in technology, engineering, biotechnology, and digital innovation
– Long-Term Resident (LTR) Visas: Decade-long options for high-net-worth individuals, investors, and executives
– Education Visas: For language studies, university programs, and specialized training courses
– Retirement Visas: For applicants over 50 with sufficient pension income and health insurance

Critical compliance considerations include mandatory yellow fever vaccination documentation for TT nationals and strict adherence to local immigration reporting requirements. These regulatory measures ensure smooth entry and sustained legal residency for all migrants.

This paradigm shift represents more than mere destination diversification—it signifies a fundamental reimagining of migration as a strategic lifestyle choice rather than necessity. Thailand offers modern infrastructure, robust healthcare systems, digital public services, and regional connectivity that align with contemporary professional and personal aspirations. For Trinidad and Tobago citizens seeking alternatives to traditional migration challenges, Thailand presents a practical, accessible, and financially sustainable solution.

The complex world of aircraft leasing presents formidable financial risks for airlines, as demonstrated by multiple case studies of carriers facing severe contractual consequences. One particularly cautionary tale involves a local entrepreneur who embarked on establishing an airline, initiating the rigorous five-phase certification process mandated by the International Civil Aviation Organization (ICAO). The businessperson dry-leased an Airbus A321-131 jet from a United States leasing company, anticipating commercial operations.

Dry leasing arrangements—where airlines procure aircraft without crew, maintenance, or insurance—typically serve as long-term solutions spanning three to twelve years, ideal for market expansion or new route development. However, when the entrepreneur abruptly withdrew the air operator certificate application mid-process, contractual obligations triggered severe financial repercussions.

The lease agreement stipulated return conditions requiring the aircraft to qualify for a US 14 CFR Part 121 Certificate, mandating compliance with all Federal Aviation Administration (FAA) modifications and inspections through a Continuous Airworthiness Maintenance Programme (CAMP). The aircraft had reached threshold requirements under the Supplemental Structural Inspection Programme (SSIP), compelling the lessee to expend millions addressing mandatory airworthiness standards—ultimately forcing the sale of both lucrative business assets and personal real estate.

This scenario exemplifies a broader pattern in aviation leasing. Historical precedents include BWIA’s experience when acquiring an MD83 twinjet, where personnel discovered an ‘as is, where is’ clause only upon delivery refusal attempts. Similarly, BWIA’s seven-year dry lease of two Airbus A321-131 aircraft resulted in substantial financial losses when leadership deemed the aircraft type inappropriate. With no termination grounds available, the carrier subleased to Turkish operator Air Alpha at reduced rates, incurring monthly deficits of $20,000 per aircraft.

More recently, Caribbean Airlines faced significant penalties when discontinuing its London Gatwick route, agreeing to early redelivery of two Boeing 767-300ER aircraft with termination penalties totaling $135,000 monthly per aircraft. The carrier’s current commitment to four Boeing 737 MAX 8 aircraft through twelve-year leases with Air Lease Corporation further underscores the long-term financial commitments inherent in aircraft leasing.

Industry experts emphasize that lessors make substantial capital investments expecting fair returns, leaving airlines with subleasing as the most practical alternative when aircraft become unnecessary. Fleet planning represents a critical strategic function balancing capacity, range, fuel efficiency, and maintenance considerations—a data-driven process profoundly impacting operational viability and financial sustainability.

Trinidad’s online gaming sector faces potential disruption as the National Lotteries Control Board (NLCB) considers implementing Sunday draws for several popular lottery games, despite no official confirmation from the regulatory body.

According to Dean Persad, President of the Online Gaming Agents Association of TT (OGAATT), lottery equipment provider Brightstar Lottery (formerly IGT lottery division) has been circulating notices among agents regarding proposed Sunday drawings for Play Whe, Pick 2, Pick 4 and Cash Pot games, effective February 8, 2026. The document, which surfaced on social media January 14, claims the NLCB board resolved to amend draw schedules under the National Lotteries Act.

Finance Minister Davendranath Tancoo, whose ministry oversees NLCB, acknowledged awareness of the initiative as part of the board’s “business expansion model” but provided no further details. Newsday’s attempts to verify the document’s authenticity with NLCB and Brightstar representatives proved unsuccessful.

Persad expressed significant concerns about the potential implementation, citing multiple operational challenges. “The disrespect, callousness, exploitation and lack of consideration towards agents continues under this new regime,” he stated, emphasizing that the association should have been consulted on matters directly affecting their members.

Key concerns include uncertainty about whether Sunday operations would be mandatory or optional, potential labor cost implications requiring double and triple-time payments under Trinidad’s labor laws, increased security risks due to reduced street activity on Sundays, and anticipated low sales volumes as families typically remain home. Additionally, agents questioned how Sunday operations would affect weekly settlement procedures that currently run Monday through Saturday.

The association president revealed profound disappointment with the newly appointed NLCB board’s lack of engagement since their July 25 installation. Despite repeated attempts to schedule meetings—including one cancellation after date confirmation—and direct intervention from the Prime Minister who emailed ministers instructing them to meet with OGAATT, Persad said the board has consistently ignored communication attempts.

“We are the most important stakeholders in the whole organization,” Persad emphasized. “We are the point people bringing in the money for the organization. Why not engage us and hear what we have to say?” The association continues seeking respectful dialogue with NLCB leadership to address their operational concerns before any Sunday draw implementation.