‘As soon as the money comes in, it goes right back out’- Premier Wheatley
“Most persons in the world, small island developing states, are lucky if they have one global revenue earner, to sell a global product that everybody around the world buys…. We’re blessed to have two. This makes the BVI an incredibly attractive place to live and to work, but those two revenue earners, as soon as the money comes in, generally, the money goes right back out, nearly as quickly as it comes in. Why is that? [It's] because we import most of everything that we consume.”
Premier Wheatley was the guest speaker for the Rotary Club of Central Tortola’s Community Economic Development Month in the Rotary calendar at the Moorings Conference Room on Thursday, October 9, 2025.
The Premier presented on building a resilient economy and how strong communities drive sustainable growth, with guests having the opportunity to ask him direct questions.
‘We have to be able to see the opportunities’
According to the Premier, opportunities abound for Virgin Islands’ businesses, but they have to be able to look for them.
“So when you look at our economy, the money doesn’t stay here very long. And relating it to the topic for today: ‘strong communities, empowering local businesses, creating sustainable jobs, and investing in people is the key to a brighter future’, when you look at the situation we face, you have to be able to see the opportunities. And that’s what we have to teach our people, government, clubs like the Rotary Club, our school system, everybody, we have to teach people how to see the opportunities that exist.”
The Premier gave the example that some people complain about the volume of cruise passengers, while others see opportunities.
“Some people may say cruise passengers don’t spend money, others will see the opportunities, persons like Sef Graham. He saw the opportunities and he started, I think his business is called Hike BVI,” Dr Wheatley pointed out.
The Premier continued that the VI welcomed just over a million visitors last year, and this year the number is expected to increase.
“If you have a million visitors coming in, whether the cruise passengers, overnight guests, day trippers, what are the opportunities that you see to be able to sell goods and services to those people who are coming here?” Dr Wheatley asked.
He said the VI has about 35,000 people, which is a very small population, and this makes the market very small, which is why persons need to capitalise on the market opportunities presented by the influx of visitors.
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7 Responses to “‘As soon as the money comes in, it goes right back out’- Premier Wheatley”
In my firm and honest opinion I believe that all wise political leader of of all contries if this world will do their earth-most best to invest as much as possible the money that comes in for the betterment of the people of their country, the B.V.I included. Is this the reality that's happening.under the current VIP government leadership? Noooooooope (No).