Wheatley Urges Local Economic Resilience
Premier Dr. Natalio Wheatley told the Rotary Club of Central Tortola that the BVI must capture more visitor and financial-sector spending by empowering local businesses and reducing dependence on imports. He warned that although the Territory benefits from two global revenue earners, much of the money leaves quickly unless residents and firms learn to see and seize opportunities.
Natalio Wheatley addressed members of the Rotary Club of Central Tortola on Thursday, October 9, 2025, calling for a concerted effort to build a more resilient Virgin Islands economy. Speaking at the Moorings Conference Room during the Rotary’s Community Economic Development Month, the Premier said the Territory is fortunate to have two global revenue earners but warned that most of the income they generate flows out of the local economy almost as quickly as it comes in. "Most persons in the world, small island developing states, are lucky if they have one global revenue earner...
Wheatley said, urging local businesses, government, schools and civic groups to teach people how to spot and seize opportunities. He described the BVI’s small population — roughly 35,000 people — as a limited domestic market that makes capturing visitor spending and adding local value essential.
The Premier pointed to last year’s visitor numbers — just over one million arrivals — with further increases expected this year. He challenged residents to think beyond complaints about cruise visitors and day trippers, and instead consider ways to sell goods and services to them.
Using entrepreneur Sef Graham and his Hike BVI business as an example, Dr. Wheatley highlighted how individuals can turn visitor flows into viable local enterprises. A central concern the Premier raised was the Territory’s heavy dependence on imports. "As soon as the money comes in, generally the money goes right back out, nearly as quickly as it comes in," he said, explaining that imported goods and supplies erode the local multiplier effect.
He called for policies and community initiatives that encourage import substitution, local production, and more retention of revenue within the islands. Wheatley urged collaboration across sectors — government, private sector, schools and community organisations such as Rotary — to build skills, identify market niches and support entrepreneurs who can convert tourist and financial-sector activity into sustainable jobs.
He framed strong communities and empowered local businesses as key to a brighter, more resilient future for the BVI. The Premier took questions from attendees following his remarks, reinforcing the call for practical steps to boost local supply chains, vocational training and business development so more of the Territory’s earnings remain on-island.
Primary source: VINO