The British Virgin Islands’ annual cultural festival generated over one million US dollars in revenue last year, but according to Premier Dr Natalio D. Wheatley, that figure was not enough to cover the full cost of staging the event.

“While it’s encouraging that the festival brought in over a million, the reality is that expenses continue to run into the millions,” Dr Wheatley said during a recent appearance on Virgin Islands Voice on Wednesday, 14 May. “It’s a massive undertaking, and the financial responsibility is shared between government, sponsors, and revenue from ticket sales and other activities.”

The festival, a cornerstone of Virgin Islands cultural life, remains a priority for the government—but not a commercial venture. The Premier was quick to emphasise that the objective is not to generate profit, but to ensure that the event is sustainable and that local vendors and service providers are paid promptly.

“Our role isn’t to make money,” he said. “We want local businesses to benefit. When we charge at the gate or host activities, it’s simply to cover costs and make sure no one is left unpaid.”

This year, government officials are hoping to improve the festival’s management framework by formalising the Festival and Fairs Committee. The Premier confirmed that the Ministry of Tourism, Culture and Sustainable Development is in the final stages of selecting board members, with recommendations expected to go before Cabinet in the coming days.

Among those currently serving are long-standing volunteers, some of whom have applied for official posts on the incoming board. “These are people who have poured their time and energy into making this festival a success year after year,” Wheatley said.

Volunteers currently receive minimal benefits, such as event access, but legislation does allow for stipends to be issued to official committee members. As the structure evolves, Dr Wheatley suggested that further support could be considered for sub-committee leaders who bear significant workloads.

Despite the financial challenges, the Premier remained optimistic about the future of the festival and the community’s enduring commitment to its cultural heritage.

“This is something we do out of love for who we are,” he said. “With better planning and continued support, we’ll keep it alive and thriving.”