Cruise ship passengers saw a notable rise of 16.2% in 2024, compared to the first half of 2023, the Central Statistics Office has disclosed. Photo: VINO/File

Premier and Minister of Finance, Dr the Hon Natalio D. Wheatley (R7) said the VI is on a good track as it pertains to tourism under the Virgin Islands Party Government (VIP). Photo: HoA/Youtube

Totalling 682,773 visitors as opposed to 582,674 in 2023 at a 17.2% increase, the Premier speaking during a sitting of the House of Assembly on July 4, 2024, said. "The economy is the worst it has ever been, according to what I’m hearing from the other side. Madam Speaker, how does that square with facts?”

“We’re on a good track as it pertains to our tourism visitor… And I believe that there was some acknowledgement that there were some people who were benefiting [at the Pier Park].

“And [when] a cruise ship [is] there I see people buying things from the stores and the vendors. I see people on Long Bay, Beef Island, they are making some money from tourism. It's not just Cane Garden Bay, money is being spread around.”

The Premier said events outside of Music Festival, Spring Regattas, BVI Wreck Week and the sporting tournaments all contribute to tourism numbers and more like car rentals, hotel and accommodations and provisioning of yachts.

Financial services sector also improving - Premier 

“If you’re objective and you're fair, you will accept these facts, but if you're just trying to prove a point for your own benefit, you'll reject these facts.”

Dr Wheatley added that financial services is also doing well. "We're holding the strain…But we've been able to hold the strain and financial services…We're doing very well,” he added.

He said in terms of other sectors in the VI, the country is making more revenues than it has ever made in financial services.

“So when we say that we are not doing well, I don’t want to discount the fact that we have problems in our economy… and I can identify where the problems are in our economy, these are challenges that have existed over time.” 

Premier Wheatley said some of these problems include accessing of money by some in the economy and that some persons in the Virgin Islands don’t want to employ Virgin Islanders," which he acknowledged the government would have to put systems in place to address.