TCI is situated in the British West Indies, 80 minutes or 575 miles south east of Miami, at the southern end of the Bahamas chain with easy access to large parts of the USA. Covering an ocean area of approximately 166 square miles, TCI has eight islands and a significant number of cayes and coral reefs making it a world class location for all water sports.
The country’s growth is primarily driven by tourism-related real estate development and a growing financial services sector. Its proximity to the USA has facilitated a rapid expansion in tourist visitors in recent years. Large scale cruise ships are able to dock on Grand Turk’s Island.
On Providenciales Island there are several marinas catering for small crafts of up to sixty feet. In March 2009, the largest eco-friendly, international marina in the Caribbean capable of handling yachts in excess of 200 feet long was opened.
TCI is English speaking and combines the stability of a British Overseas Territory with the acceptance of the US dollar as the local currency with a well-defined regulatory framework. New legislation is being drafted which will further strengthen the financial market. TCI has a fiscal structure with no tax on income (either personal, corporate or capital gains), and no exchange control.
Economic indicators for TCI show a positive outlook, with a potential for continued economic growth over the medium term. TCI has a modern, full service international airport with daily flights from a number of key cities in the USA and Canada. Runway expansion is currently on the drawing board and this would facilitate non-stop flights from Europe.
English is the official language.
The population of TCI is approximately 30,000 with the major commercial center being the island Providenciales.
Temperatures vary from 95F (35C) in summer to 75F (24C) in winter. The average year-round temperature is 83F (28C). The almost constant easterly trade winds temper the heat and keep life comfortable. Winters are usually dry. The climate is almost desertlike.