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The ongoing global health crisis has changed the United States Virgin Islands' tourism industry in several ways, Tourism Commissioner Joseph Boschulte said on Tuesday.
Economic Development Authority Chief Executive Officer Wayne Biggs Jr. reported Tuesday to the Senate Committee on Economic Development and Agriculture.
Vision 2040 survey results revealed agriculture as the No. 1 industry Virgin Islanders on all three islands and abroad want to see grow in the territory.
The COVID-19 pandemic has caused tourism revenue to plummet in the U.S. Virgin Islands, hitting the territory's tourism economy worse than hurricanes Irma and Maria did.
Through the onslaught of the novel coronavirus, the U.S. Virgin Islands economy has remained fairly stable, according to government officials, and is projected to deviate by $70 million for the 2021 fiscal year compared to 2020.
While the V.I.'s financial woes are enough to keep any leader up at night, Gov. Albert Bryan Jr. is confident that when the pandemic eases the territory will be poised for a comeback.
Finding the balance between reviving the economy and public safety is a delicate one, Governor Albert Bryan Jr. said in a recent interview with the Source.
Lawmakers say they want to diversify the Virgin Islands economy by pushing forward a bill that will designate 3,000 acres on the south shore of St. Croix as an enterprise zone.
When asked to estimate the impact of the novel coronavirus on the V.I. government’s revenues, Bureau of Internal Revenue Director Joel Lee said they could not give a firm projection “because this has never happened before.”
Tens of millions of dollars in revenue for the Virgin Islands are practically up in smoke as the COVID-19 pandemic forced cruise ship cancellations, a ban on hotel stays and a stay-at-home order that all but cut off the territory’s lifeblood: tourism.
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