Market Research In Turks and Caicos Islands

Turks and Caicos Islands Profile:

  • The Turks and Caicos Islands or TCI for short, are a British Overseas Territory consisting of the larger Caicos Islands and smaller Turks Islands, two groups of tropical islands in the Lucayan Archipelago of the Atlantic Ocean and northern West Indies.
  • The Turks and Caicos Islands are divided into six administrative districts (two in the Turks Islands and four in the Caicos Islands), headed by district commissioners.
  • The islands are known primarily for tourism and as an offshore financial center.
  • The primary agricultural products include limited amounts of maize, beans, cassava (tapioca) and citrus fruits.
  • The Turks and Caicos Islands participate in the Caribbean Development Bank, is an associate in CARICOM, member of the Universal Postal Union and maintains an Interpol sub-bureau.

Turks and Caicos Islands Economy:

  • The Turks and Caicos economy is based on tourism, offshore financial services, and fishing.
  • Major sources of government revenue also include fees from offshore financial activities and customs receipts.
  • Fish and conch are the only significant export, with some $169.2 million of lobster, dried and fresh conch, and conch shells exported in 2000, primarily to the United Kingdom and the United States. In recent years, however, the catch has been declining.
  • The islands produce and consume about 5 GWh of electricity, per year, all of which comes from fossil fuels.
  • The territory used to be an important trans-shipment point for South American narcotics destined for the United States, but due to the ongoing pressure of a combined American, Bahamian and Turks and Caicos effort, this trade has been greatly reduced.

Turks and Caicos Islands Facts:

  • Population: 52,570
  • Capital: Cockburn Town
  • Largest city: Providenciales
  • Area: 948 sq km
  • Major language: English (official)
  • Major religion: Protestant 72.8%, Roman Catholic 11.4%, Jehovah’s Witnesses 1.8%, other 14%
  • Life expectancy: 77.2 years (Male), 82.9 years (Female)
  • Monetary unit: 1 US Dollar (US$, USD) = 100 Cents
  • Main exports: Lobster, dried and fresh conch, conch shells
  • GNI per Capita: $27,488.3

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