By Kimberly Ramkhalawan
March 8, 2022
Trinidad and Tobago is positioned to be a shelter zone for yachties during the Hurricane Season, as its Trade Ministry is hoping to woo back visitors who have opted to go instead to the islands up the Caribbean chain. The government will soon launch a new campaign tailored to revive the sector. The yachting industry has been in a pandering state in recent years, even prior to the pandemic with many visitors opting to go up the island chain rather than dock in Trinidad and Tobago. The latest move comes after its last talks in 2016 with members of the industry with offerings of tax exemptions for those in the sector.
TT Trade Minister Paula Gopee Scoon says the new measure focuses on a relaunch of a campaign that targets yachties with the hopes of getting many of them who left during the pandemic to other safe marina spaces, when Trinidad and Tobago has closed its borders indefinitely due to the effects of the COVID 19 Pandemic.
This time she says the campaign seeks to targets those from around the world, with a push in markets not only in the region, but other parts of the world, where yachting and marine living as a lifestyle is dominant. Her comments were made even as the trade minister launched its grant funding programme for small and medium enterprises involved in the yachting industry and suffered immense losses during the pandemic shutdown, a period where many who did jobs such as refurbishment and maintenance of vessels moved up the islands where their services were still needed.
This has created a deficiency in the current yachting services industry in Trinidad, something the minister hopes to see a return to with the reopening of the country’s borders and its tourism sector. Beaches and rivers were only recently reopened to the public as it continues toward the path of relaxation of its safety measures.
President of the TTCSI, Mr. Mark Edghill, acknowledged the efforts and commitment shown by the Trade Minister to prioritize the revitalization of the yacht services sector in Trinidad and Tobago. Mr. Edghill says cooperation is needed to bolster the floundering sector and Trinidad and Tobago does not want to lose out on an industry with a global market reach estimated at US$6.71 billion in 2020 and is projected to exceed US$8.5 billion by 2023 and with an Annual Compound Growth Rate of 8.52%. He says Trinidad and Tobago must position itself to attract their fair share of this business. Also, expressing appreciation for the new Government initiative, Mr. Peter Peake, President of the Yacht Services Association of Trinidad and Tobago (YSATT), acknowledged that although the sector has experienced some storms over the past few years they have also learnt many lessons.
Yacht Services Association president lamented at the state of the industry, even as attempts are being made to return yachties back to the local shores. But revitalising the sector will take much more than tax breaks to reverse what is seen as an exodus from the marinas.
Members of the yachting industry say the key is providing various services which are hampered by the departure of skilled labourers to other islands favoured by yachties. He said “We are excited to welcome this new initiative and renewed interest and are ready to set our sails to develop and grow the sector for decades to come”. He also urged businesses, contractors and sole traders to work hand-in-hand with the GORTT for a bright and more prosperous future. Peake estimates that there are on average 150 businesses catering to the local yachting industry of which 84% are characterized as Micro and Small Enterprises (MSEs). This industry employs approximately 1,700 persons, skilled and unskilled workers, over a number of services including storage, repair, maintenance and ancillary services.
Meanwhile, Jim Ripple, a longstanding yachtman who stays in Trinidad and is often away from his Ohio, US home, says much more needs to be done to make visitors welcome at the Customs and Excise division. He says for far too long the pleasantries have been missing, while travel in between the twin island state has been something challenging, as those wishing to move freely from Tobago and Trinidad, have often been faced with having to duplicate the entry into the nation, something he says has been off putting.
Because of Trinidad’s geographic position under the hurricane belt, it remains one of the most sought after destinations for yachties in the region.