Market Research In British Virgin Islands

British Virgin Islands Profile:

  • The British Virgin Islands (BVI), officially simply “Virgin Islands”, are a British Overseas Territory in the Caribbean.
  • The British Virgin Islands is a unitary territory. The territory is divided into nine electoral districts.
  • As a tax haven with an opaque banking system, the British Virgin Islands enjoys one of the more prosperous economies of the Caribbean region
  • The adoption of a comprehensive insurance law in late 1994, which provides a blanket of confidentiality with regulated statutory gateways for investigation of criminal offenses, made the British Virgin Islands even more attractive to international business.
  • Parts of the islands were damaged in September 2017 by Hurricane Irma and an estimated ten people were killed by the storm. The most severe destruction appeared to be on Tortola.

British Virgin Islands Economy:

  • The economy, one of the most stable and prosperous in the Caribbean, is highly dependent on tourism, which generates an estimated 45% of the national income.
  • The “twin pillars” of the economy are tourism and financial services. Politically, tourism is the more important of the two, as it employs a greater number of people within the territory, and a larger proportion of the businesses in the tourist industry are locally owned.
  • In the mid-1980s, the government began offering offshore registration to companies wishing to incorporate in the islands, and incorporation fees now generate substantial revenues.
  • The average monthly income earned by a worker in the territory was $2,452 as at the time of the 2010 Census. 29% of the population fell into the “low income” category.
  • 51.8% of the Government’s revenue comes directly from licence fees for offshore companies, and considerable further sums are raised directly or indirectly from payroll taxes relating to salaries paid within the trust industry sector.

British Virgin Islands Facts:

  • Population: 35,015
  • Capital: Road Town
  • Largest city: Road Town
  • Area: 151 sq km
  • Major language: English (official)
  • Major religion: Protestant 70.2%, Roman Catholic 8.9%, Jehovah’s Witness 2.5%, Hindu 1.9%, other 6.2%
  • Life expectancy: 77.4 years (Male), 80.3 years (Female)
  • Monetary unit: 1 US Dollar (US$, USD) = 100 Cents
  • Main exports: Rum, fresh fish, fruits, animals; gravel, sand
  • GNI per Capita: $30,501.5

Our Market Research Services in British Virgin Islands:

We Employ A Wide Range of Research Techniques in British Virgin Islands:

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