Our comprehensive assessment of Trinidad & Tobago's operating environment and the outlook for its leading sectors are formed by bringing together a wealth of data on global markets that affect Trinidad & Tobago, as well as the latest industry developments that could impact Trinidad & Tobago's industries. This unique integrated approach has given us an impeccable track-record for predicting important shifts in the markets, ensuring you’re aware of the latest market opportunities and risks in Trinidad & Tobago before your competitors.
Trinidad & Tobago Country Risk
News: The UK's Health Secretary Jeremy Hunt is reportedly planning to support the controversial Medical Innovation Bill, which seeks to allow dying patients in England and Wales to be treated with untested medicines, reports the Telegraph. The proposed bill, originally put forward by Lord Saatchi, seeks clarification of the law stating that a doctor would not be deemed negligent if they were to depart from standard practice while treating a critical or life-threatening condition - providing the decision to do so is taken responsibly and is in a patient's best interest. The bill has been amended to make it mandatory for the doctors to secure agreement from another specialist in prescribing the drugs. On the basis of the amendment made to the bill and incorporation of other safety measures, the Department of Health has decided to offer its support. The House of Lords will debate the bill on October 24.
Trinidad & Tobago Industry Coverage (5)
Food & Drink
Trinidad & Tobago Food & Drink
BMI View: We are turning more positive regarding economic growth in the Caribbean, as structural and financial reforms take hold in the region, tourism numbers are picking up, and growth is stronger in key western states such as the US. That said, many regional economies continue to be heavily indebted which limits general investment. We believe that general food consumption growth will be strongest in Jamaica and the Dominican Republic. In the Dominican Republic's case, food consumption is coming off of a very low base. Ongoing recession in Puerto Rico, one of the region's most sophisticated markets, is likely to continue in 2015.
Headline Industry Data
Forecast 2015 food consumption growth (local currency):
Trinidad & Tobago Insurance
BMI View: Apparent slow growth in the region during 2015 is generally the result of continued USD strength, rather than structural weaknesses in the insurance sector. While offshore business, principally in Barbados and the Cayman Islands, may steal the headlines, domestic business is typically under-developed in both life and non-life lines. International players barely feature in the region, deterred by small market sizes and the strength of leading regional players who control large portions of most markets.
The insurance markets of the Caribbean, particularly offshore business but also domestic sectors, are heavily tied to the economic fortunes of the United States and Canada. The ongoing recovery in both of these should boost the fortunes of the region's insurers, driving demand for offshore reinsurance and captives, as well as boosting domestic economies. On the whole, regulation...
Oil & Gas
Trinidad & Tobago Oil & Gas
BMI View: Trinidad & Tobago has benefitted from strong upstream investment and this trend is expected to continue over the forecast period and could even increase should additional incentives materialise. Though we continue to forecast declines in reserves that will see supply shortfalls persist, we note the upside from both exploration and potential development of cross-border fields.
Trinidad & Tobago Telecommunications
BMI View: 2015 seems poised to be a big year for the Caribbean, with a number of major developments that could transform the telecom industries in a number of markets. The CWC acquisition of Columbus International will have a far-reaching regional impact in the broadband internet and pay-TV markets, which remain underdeveloped and ripe for growth. New players are expected in the Bahamas and Trinidad & Tobago, and new regulators in Puerto Rico, Jamaica, Barbados and Haiti could lead to huge improvements in the business environment. Agreements between the US and Cuba have shocked the world. Cuba represents the most attractive market in the Caribbean in terms of total size and growth opportunities, however, we don't expect to see this play out. Nonetheless, there will be massive interest from lots of international players....
Trinidad & Tobago Tourism