Turks and Caicos Islands’ government invites tenders for main airport concession: part two
In some parts of the Caribbean attempts to invite private sector participation into the operation and financing of airports have gone fairly smoothly; for example, in Jamaica, the Bahamas and the Dominican Republic.
In some others, not so, although the delay to the Barbados Grantley Adams Airport concession, which was revitalised in 2022 (it did not achieve its 1H2023 completion target) was down to the ‘new realities of aviation’ that were, and still are, a consequence of the COVID-19 pandemic.
Nevertheless, over in the Turks and Caicos Islands (TCI, a financial centre, tax haven and tourist magnet for celebrities and the financially well-endowed), matters are moving ahead quickly following a government invitation to tender for a concession, under a PPP contract, to operate the Howard Hamilton International Airport on Providenciales Island. It is a demanding one, which specifies rapid investment in a new terminal. The intention is to wrap it all up by Feb-2024 – that’s just six months away at the time of writing.
It will be fascinating to see which investors/operators will be attracted to a small airport. It has been described as ‘unfit for purpose’ by the local press; it serves a group of islands with a population of less than 60,000, but it is an airport that generates enormous wealth from the fat cats who pass through on their way to sparkling white beaches and five-star luxury accommodation.