BVI’s leaders in financial services, tourism and business relayed their take on the Territory’s global impact and driving the BVI towards global prosperity at the Special Edition Breakfast Forum as part of Financial Services Week 2022.
The topics stemmed from the ‘Beyond Globalisation - The British Virgin Islands’ contribution to global prosperity in an uncertain world”, a report by Pragmatix Advisory and commissioned by BVI Finance.
The Breakfast Forum panel included BVI Finance Chief Executive Officer Ms. Elise Donovan, BVI’s Director of Tourism Mr. Clive McCoy, Director of the BVI Chamber of Commerce and Hotel Association (BVICCHA) Mrs. Shaina Smith-Archer and Pragmatix Advisory Director Mr. Mark Pragnell, and was moderated by BVI Government’s Director of Communications Dr. Arliene T. Penn.
On BVI Finance’s role in globalisation, Ms. Donovan stated: “We are the cogs in the wheel of the global economy,” adding, “We provide the services that facilitate globalisation, that facilitate business and trade across borders.”
The BVI Finance head said globalisation demonstrates “how we interact across borders,” and the interconnectivity of businesses. Speaking about BVI’s global reach, Ms. Donovan highlighted the BVI’s market share in Asia, which accounts for over 40-percent, as per the findings in the ‘Beyond Globalisation’ report.
Mr. McCoy shared that globalisation is seen in the BVI Tourist Board’s marketing strategy, adding, “what happens globally, affects tourism in the BVI”.
Mr. McCoy also spoke about the relationship between tourism and financial services as being closely linked in terms of the support provided to corporate business, and in some cases, the combined marketing efforts.
While describing the BVICCHA as a “business support organisation”, Mrs. Smith-Archer said that the Virgin Islands business economy, financial services and tourism, is very much involved in global business in that they cater to international clientele.
These businesses, according to Mrs. Smith-Archer, are supported by many Virgin Islands based small businesses that form a major part of what she refers to as the “supply chain”. Those businesses include retailers, wholesalers, real estate, and professional services.
The panel discussion concluded with a shared consensus that there is much opportunity for further growth in the BVI’s economy and greater success in the face of globalisation.
To watch the forum, go to BVI Finance on Facebook, or use this link: https://fb.watch/gTwHVewbrQ/.
The BVI Finance Breakfast Forum formed part of the activities calendar for Financial Services Week, from November 12 to 19. This year’s celebration was held under the theme, 'Globalisation: BVI Beyond'.
For further information please contact:
Adrianna Soverall
Marketing and Media Relations Coordinator
asoverall@bvifinance.vg |Tel: 284-852-1957