For the first time ever, Turks and Caicos has topped the list of Caribbean destinations for US travelers. This speaks volumes for the work TCI has done to control the Covid outbreak which appears to be driving this change in travel pattern.
Why the Big Jump?
The jump in travel seems to be more about where Americans can and cannot go versus where they have traditionally gone. Due to Covid-19 restrictions, and the difficulty in traveling to some countries, there has been a shift in where Americans are traveling. For example, only a couple of Caribbean countries have ever cracked the top 10 for Americans in the past, but TCI now sits in 5th position (up from 60th last year). This is not to say that Americans are coming in droves, quite the opposite actually, but it does speak highly of the TCI’s effort to make the country safe and welcoming to international visitors.
Will this Trend Continue?
Unless Covid drags out for a lot longer, this trend is not likely to continue. TCI has become much more popular for Americans, however as mentioned above, this seems to be driven by the pandemic. I do believe however that the continued emphasis on health and safety in the islands will position it better moving forward.
Is Covid Driving the Real Estate Market?
This is the question a lot of real estate professionals are asking themselves. Although tourism is a fraction of its usual numbers, real estate is still a hot commodity in Turks and Caicos. Surely part of that is the stamp duty reduction offered by the government right now, but not all. Many buyers are looking for a safe haven to escape to in case there are more lock downs or outbreaks back in the US.
A number of realtors we have spoken to have told of us buyers snapping up real estate in TCI and the Cayman Islands, sight unseen. Unusual times during unusual times may be the best way to describe this phenomena.
