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We now enjoy one of the fastest growth rates in the Caribbean an annual budget surplus and a Standard & Poors’ credit rating of BBB+. The Turks and Caicos Islands is projected to have some of the region’s highest GDP growth in the coming years, according to data from its Strategic Policy and Planning Department The economy has recovered strongly since being hit hard by the global economic crisis. GPD (greatest economic sectors), landuse (a map would be an asset), Spatial development plan and/or Strategic Development for the country (provide link to document or website if possible) Major sources of government revenue also include fees from offshore financial activities and customs receipts. Three-quarters of the visitors come by ship. The US is the leading source of tourists, accounting for more than three-quarters of the more than 1 million visitors that arrive annually. Most capital goods and food for domestic consumption are imported. The Turks and Caicos economy is based on tourism, offshore financial services, real estate development, and fishing. Fish and seafood are still lucrative exports.
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Guano, cotton, sisal, fish, lobster and sponges have been replaced by tourism and a financial services industry. Over the years, various exports maintained the local economy. Initially, the economy of the Turks and Caicos Islands relied on the export of salt and conch meat. From the main tourist center of Providenciales to the quiet and tranquil islands of North and Middle Caicos to the historic Capital Island of Grand Turk each one offers a different experience and a unique character, but all offer year-round great climate, beaches and underwater activities. The islands of the Turks and Caicos are almost as diverse as its people. The islands are located 550 miles southeast of Miami, Florida, just below the Bahamas chain and just to the east of Cuba and the island of Hispaniola (Dominican Republic and Haiti.) Technically, the Turks and Caicos are located in the Atlantic Ocean, not the Caribbean Sea. Today: The Turks and Caicos Islands consist of 40 islands and cays, eight of which are inhabited. The islands were not fully colonised until 1681, when salt collectors from Bermuda built the first permanent settlement on Grand Turk Island. During the 16th, 17th and 18th centuries, the islands passed from Spanish, to French, to English (subsequently British) control, but none of the three powers ever established any settlements.įrom about 1690 to 1720, pirates hid in the cays of the Turks and Caicos Islands, attacking Spanish treasure galleons en route to Spain from Cuba, Hispaniola, and the Spanish possessions in Central America and Peru. The arrival of Europeans spelled the end for the Taínos, who had either been forced into slavery or had succumbed to European-borne diseases by the mid-16th century. Some argue for Grand Turk, where a monument casts the claim in stone. Locals claim that the islands were the first landfall of Columbus in 1492. History: The first known inhabitants of the islands were Taíno Indians, who left evidence of their occupation in the form of utensils and a ball court.