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Foreign direct investment and support mechanisms boost industry in Trinidad and Tobago
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Trinidad and Tobago’s economic output remains intertwined with energy revenue, despite the fact that the effects of the 2009 oil boom have long since declined. The country has emerged from its recessionary period following three consecutive quarters of growth, but, as Paula Gopee-Scoon, the minister of trade and industry, notes, between 2017 and 2019 there were difficulties experienced in every sector…

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Changing spending patterns and competition push companies towards e-commerce in Trinidad and Tobago
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Trinidad and Tobago’s retail sector has been impacted by the national economy’s recent period of slow growth, with consumer behaviour – including reduced consumption and evolving spending patterns – accounting for shortfalls in an otherwise promisings sector. State of Play The national government has been keen to highlight the importance of the retail sector both to the consumer and the economy,…

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Small and medium-sized enterprises key to industrial growth
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Small and medium-sized enterprises (SMEs) drive global economic growth and employment, accounting for an average of 33% of GDP and 45% of the workforce in high-income countries, and over 60% of GDP and 70% of employment in developing economies. The rise of SMEs has been crucial to economic diversification and resilience, particularly in countries vulnerable to commodity price fluctuations. SMEs have…

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Trinidad and Tobago to tackle affordable housing deficit and expand commercial real estate
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Trinidad and Tobago’s housing market has fluctuated over recent decades in line with international oil prices and the overall health of the global economy. The sector grew rapidly between 1991 and 2006, with the most notable development occurring in the capital, Port of Spain, and the areas close to Point Lisas, the centre of the country’s petrochemicals industry. However, since the 2007/08 global…

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Data-driven technologies to revolutionise construction sectors of emerging economies
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Around 55% of the world’s population – or 4.2bn people – lived in urban areas in 2018, up from 47% in 2000, according to the UN. Because of the rapid rate of urbanisation, this figure is expected to reach 68% by 2050, with growth concentrated in Latin America, the Middle East and North Africa (MENA), sub-Saharan Africa and Asia. The shift towards the cities put the onus on the construction sector…

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Construction in Trinidad and Tobago to recover on the back of large-scale infrastructure projects
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Following a period of subdued activity, a steady flow of projects in 2019 have seen Trinidad and Tobago’s construction industry experience healthier growth in recent years. However, obtaining private sector funding remains a challenge, due to a decline in banks’ lending activity. Nevertheless, in November 2019 Glenn Mahabirsingh, president of the T&T Contractors Association, told local media…

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Trinidad and Tobago shaped by diverse geography and rich history
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The twin-island nation of Trinidad and Tobago is located in the southern end of the Caribbean, just off the coast of Venezuela. Its rich and varied heritage lends itself to a vibrant society and cuisine spawned from an array of ethnicities and religions. The islands have also positioned themselves as a regional centre for culture and sport, attracting 197,700 tourist arrivals in 2019, according to…

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Democratic institutions and natural resources help Trinidad and Tobago thrive
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With a stable democratic system and strong regional and international ties, Trinidad and Tobago is one of the most prosperous countries in the Caribbean. The twin-island nation is rich in oil and gas, the economy is comparatively wealthy, and the twin island nation is known worldwide for its vibrant cultural and musical traditions. Nevertheless, T&T has faced a series of challenges. The economy…

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Diversification and high-value exports encourage sustainable economic growth in Trinidad and Tobago
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On the back of elevated global oil prices, the economy of Trinidad and Tobago went through a period of rapid expansion in recent decades, resulting in higher levels of development and overall well-being for the population. While diversification efforts have boosted long-term stability, the economy remains vulnerable to commodity boom and bust cycles. As such, the drop in commodity prices from 2014…

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Emerging markets responding to major banks' retrenchment of overseas operations
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The three decades before the 2007-08 global financial crisis were marked by the world’s financial networks becoming increasingly interconnected. Financial system regulatory convergence, the growing penetration of World Trade Organisation rules and the creation of currency unions, such as the euro, resulted in a surge in cross-border capital flows. Global banks began to see the emergence of a single…