As the Tobago House of Assembly gears up to present their budget request for fiscal 2026/ 2027; the business community is hoping there is a large focus on investments in construction and tourism.
Chairman of the Tobago Division of the Trinidad and Tobago Chamber of Industry and Commerce, Curtis Williams says the economy on the island has been sluggish and the private sector is in need of stimulants.
Economic recovery in Tobago following the COVID-19 pandemic has been particularly challenging, especially for the private sector.
Despite these difficulties, Chairman of the Tobago Division of the Trinidad and Tobago Chamber of Industry and Commerce, Curtis Williams, remains optimistic. He pointed out that relations between the Central Government and the Tobago House of Assembly appear to be strong, noting that the island is now receiving the financial support it has long been seeking.
“And one of the things we want to mention coming up with the THA budget is something to stimulate the economy right now. It is sluggish in Tobago. Now we looking at a stimulant. And the best stimulant that we see and there are two things that can help us right now, tourism and construction.”
The construction sector on the island has experienced a significant slowdown since 2020, with the Tobago House of Assembly (THA) repeatedly attributing this to fiscal prudence. However, Mr. Williams believes they have now reached a point where construction activity can resume.
“And that construction with local content so that we could have that trickle down effect and all those guys that is unemployed, all those who want this morning work or looking for morning work because they would be involved, both the skilled and unskilled, in the construction sector which we know, right now could take approximately 2000 workers and that is what will make Tobago start to move.”
Tourism is another sector that Mr Williams sees as another sector that can stimulate the economy. He commended the THA for successfully growing Tobago’s Carnival, but wants to see that same energy extend to other parts of the industry.
“Our last meeting with the festivals commission, which is part of the tourism sector, we met with the other stakeholders, the hotel association, and the tour guides, the divers association, I see that relationship getting better than it was before, knowing that at least the THA and the Divisions are listening to the stakeholders. is the first time we see the stakeholders play such an active role and they are actually listening to the stakeholders.”
Secretary of Finance, Trade and the Economy, Petal-Ann Roberts will be presenting the THA budget for fiscal 2026/ 2027 in the Assembly Legislature on Monday June 22nd. Among the priority items are investments in tourism, agriculture, public infrastructure improvements and digitization.