Wildfire's Caribbean - TRINIDAD & TOBAGO

Some of the tradition & beauty of Carnival

News Links: Trinidad Express - Trinidad Guardian - Trinidad & Tobago Newsday

Financial Links: The Trinidad & Tobago Stock Exchange (28 listings) - Central Bank - Chamber of Commerce

Area: Trinidad 4828 sq km (1883 sq mi); Tobago 300 sq km (117 sq mi)
Population: 1,270,000 (Trinidad 1,220,000; Tobago 51,000)
Capital city: Port of Spain (pop 300,000)
People: African (39%), East Indian (40%), with significant European, Chinese, Syrian, Lebanese and Carib minorities
Language: English, Hindi, Creole, Spanish and Chinese
Religion: Roman Catholic (30%), Hindu (24%), Anglican (11%), other Protestant denominations (29%) and Muslim (6%)
Government: Independent republic within the British Commonwealth
President: Maxwell Richards

GDP: US$9.41 billion
GDP per head: US$8,500
Inflation: 3.5%
Major industries: Petroleum, processed foods, fertilizers, cement, steel, cotton, electronics, sugar, rice, cocoa, citrus, coffee
Major trading partners: US, Caricom countries, Central and South America, EU, Japan

As the name implies, this is a nation comprising primarily of 2 islands. It has all the natural beauty of many Caribbean island nations, with many isolated bays and beaches surrounded by mountains covered in rain forests. But in addition to that, the island of Trinidad is the first of the Caribbean islands, on the edge of South America's continental shelf and this significant geological location has blessed the country with an abundance of oil and natural gas. In contrast to life on Tobago, which more closely resembles other island nations, Trinidad's economy is much more diverse and vibrant. There is a distributorship or dealership for almost every product or service created by man.

This diversity is also reflected in the country's population. At different times the islands were occupied and claimed as the territory of France, Spain, and England. The influence of all three can be seen in architecture, language, ect. Most Caribbean nations are comprised today of populations which are mostly descendant from Africa, with European minorities. Because of the use of "contract labor" later in Trinidad's history, there are also many people whose origins are from India and China. And the diversity does not stop there, as there are also large religous congregations of Hindus, and Moslems, in addition to Christians. This makes for a land rich in culture, with numerous holidays and celebrations throughout the year. The most famous of these is Carnival, which is the followed almost immediately by one of the largest Hindu festivals. As one might expect, there is probably also more culinary variety here than anywhere else in the region.

Even before the extent of oil and gas reserves were known, the people here were very industrious. When one of the other nations in the region experienced problems with organized labor, Port of Spain developed a container port, offering 24 hr. a day loading/off-loading and established themselves as the new trans-shipment center for the Eastern Caribbean. Developments in Natural Gas have happenned very quickly, within 10 years Trinidad has become the 5th largest producer in the world.

Following these successes, the Financial industries began to develop, with Trinidad based banks expanding throughout the region, via acquisition. Financial regulation is still lagging a little behind international standards but that is quickly improving with the recent introduction of new banking and securities regulations. Trinidad & Tobago has it's own securities exchange, the TTSE. Currently there are 5 licensed brokers, and more than 30 listed securities. Several large financial institutions have recently begun to offer a variety of Mutual Funds.

There are probably more licensed Real Estate professionals here than anywhere else in the region, except Jamaica. There are many excellent Residential and Commercial property investment opportunities. We advise some caution in making your selection as there were, and may still be,"security" concerns in certain areas. These have been resolved to some degree through the introduction of "Neighbourhood Watch" programs, limited access communities, private security contracts, etc.

If thinking of a visit, try to take time to visit both islands. There is now both regular ferry service, and regular air service between the two. In addition, if you have a few extra days, there is also a regular ferry from Trinidad to Venezuela, only a few miles across the bay.

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Copyright (c) January 2004 - material on this page is not to be reproduced in any manner without the express written permission of Wildfire Asset Management Inc.