Economy & Property Market

Although only a quarter of a century ago, there were very few facilities for visitors to TCI, the islands now have a dynamic, stable and profitable tourism industry.

Home to some of the top 5 luxury resorts in the world, the islands have a repeat visitor rate of 60%. Three quarters of visitors to TCI are from North America. The islands have also emerged as a hub for yachting enthusiasts and a cruise ship destination: A $40 million cruise center in Grand Turk attracts 500,000 cruise passengers each year.

Rapid economic development has been driven by the growth in tourism as well as a strong offshore financial sector, supported by proximity to the USA and use of the US Dollar as local currency (despite being a British Overseas Territory, with a British Governor, representing HM the Queen, as Head of State).

With no property, income or inheritance tax, TCI has in recent years also become a highly attractive property investment location.

The main island of Providenciales, home to 22,000 people, is renowned for high end condominiums and villas located in luxury resorts and residences at the world famous Parrot Cay have sold out.