“My government continues to persevere to ensure a business-friendly and secure environment,” Premier Wheatley stated. “You should take note that we just sent out the expression of interest for Prospect Reef and look forward to receiving expressions of interest. We continue to persevere to ensure business-friendly and secure environment compliance with regulatory demands, and provide the products and services that will attract business to the sector and maintain our competitive advantage.”

Prospect Reef Resort, once a flagship property of the territory, has been a symbol of both the potential and the challenges of post-hurricane redevelopment in the British Virgin Islands. After the hurricanes of 2017, the National Democratic Party (NDP) government signed a $90 million deal with ICA (BVI) Group Corp for its redevelopment. However, that agreement failed to come to fruition.

When the Virgin Islands Party assumed office, it pledged to seek new investors for the project. Nearly eight years later, this latest move represents a renewed push to breathe life into the property.

Premier Wheatley emphasised his administration’s focus on creating conditions that attract international investment, with compliance, innovation, and competitiveness being central to the strategy.

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“Our vision for tourism is clear. We aim to increase the number of tourists visiting the Virgin Islands and enhance the quality of their experiences,” said Premier Wheatley, highlighting the significant achievements in tourism over the past year. “Last year, we welcomed 994,253 visitors, the second-highest arrival numbers in our history, despite ongoing recovery efforts from hurricanes.”

Minister of Tourism echoed this sentiment, emphasising the need for targeted initiatives to attract visitors during traditionally slow months. “Diversifying our tourism product is key to boosting visitor numbers,” Minister Wheatley stated, citing successful events such as the BVI Arbitration Week and sports tournaments as examples of initiatives driving tourism growth.

One of the key strategies outlined by Premier Wheatley is the focus on entertainment tourism. “Events like music festivals have proven to be effective in increasing visitor numbers and enhancing visitor experiences,” Premier Wheatley explained. “We are committed to hosting multiple musical events throughout the year to add value to our tourism offerings.”

Minister of Tourism stressed the importance of collaboration between the government and private sector in organising successful events. “We are proud to partner with private indviduals and organisations to host events like the upcoming music festival,” Minister Wheatley said. “When these events are successful, we all benefit.”

In closing, Premier Wheatley expressed appreciation for the dedicated team working to improve the tourism product in the Virgin Islands. “We are confident that our efforts will yield positive results and further strengthen the tourism industry in the Virgin Islands,” Premier Wheatley concluded.

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