NIA CHARLESTOWN NEVIS – Premier and Minister of Finance and Economic Planning in the Nevis Island Administration, the Honourable Mark Brantley, has expressed optimism regarding the economic outlook for the island of Nevis for 2025.
Speaking at his recent monthly press conference, the Premier highlighted major accomplishments and future plans, expressing confidence in Nevis’ economic trajectory.
“I am grateful to say that in Nevis, things are going well…and my outlook for 2025 is very positive. I think we’re going to see more job creation and more businesses opening. So I believe the island is moving in the right direction, and I’m hopeful we continue in that vein,” he remarked.
“We’ve been able to complete some significant projects delivered on time and budget. We have other projects in progress that we hope to roll out in the new year, including our airport [redevelopment] and the completion of our hospital expansion. In addition, we are cooperating with the Federal Government on the geothermal energy expansion, and I’m hopeful that by the Budget, we will be able to explain some other initiatives we are taking in terms of renewable energy.”
The Honourable Premier noted the island’s thriving and growing restaurant sector as a standout success, saying visitors and residents have expressed their excitement at the quality and variety of dining options available on the island.
“Nevis now boasts one of the best dining scenes in the entire region.”
Outlining plans to boost economic activity in 2025, the Premier emphasised the government’s commitment to stimulating growth across various sectors.
“In the Budget, we will roll out new incentives for small businesses and unveil a diaspora attraction plan to encourage people to return home.
“We are introducing concessions for home construction and for those adding on to existing homes. Construction is a vital sector for us, with approximately 170 active sites currently on the island. We want to incentivise further growth by supporting individuals building or expanding their homes.”
The Premier also expressed optimism about tourism, highlighting its strong performance. He revealed solid hotel bookings for the peak season and increased revenue collected through the Tourism Development Levy thus far in 2024.
Acknowledging the challenges of unforeseen disasters, Premier Brantley concluded, “I believe 2025 will be a good year for us. With no natural or man-made disasters on the island, I believe that we will have a good year.”
He emphasised that the government, through its own capital expenditure, will continue to stimulate activity in the economy, in addition to maintaining social safety nets for those that need a “hand up”.