This session is intended to set the stage for the overall two days of discussions for the Ideas Festival by taking a hard look at what’s taking place at the geopolitical level – dominated by the US – such as tariffs and the attendant related supply chains challenges for a small territory such as the BVI. Changes in Europe, Asia and Africa and at the regional level before focusing on the local level – and how the BVI as a British Overseas Territory should consider positioning itself in the global economic space, to continue growth in its business and economic space.  This in the context of the US being the BVI largest trading partner now and in the foreseeable future, the source of 70% of the destination’s luxury tourism trade, a significant amount of its tourism investment, investment in real estate coupled with a strong US/BVI Diaspora – with a considerable number of Virgin Islanders with American citizenship. Not to mention, the physical proximity to our immediate neighbours the USVI and our strong familial ties and Puerto Rico, the easy of travel back and forth, all underpinned by our use of the US dollar as legal tender and the inherent attendant benefits of the same.  While on the other side of our economy – the Financial Services Sector, we position the jurisdiction as a dominant vehicle for global cross border trade with a unique vantage point that looks eastward to Asia.

This discussion is intended to also look at the technological change sweeping the global community with a keen eye on AI and its political impact on the territory.