And Relax: The Economic Potential Of Wellness Tourism In Turks And Caicos

• Published date: 30 November 2022
• Subject Matter: Government, Public Sector, Media, Telecoms, IT, Entertainment, Inward/ Foreign Investment, Hotels & Hospitality
• Law Firm: Invest Turks And Caicos
• Author: Mr Invest Turks And Caicos

Salt Cay is the smallest populated island in Turks and Caicos, with just 108 residents. Given the relaxing surroundings, a wellness retreat on the island looks like a promising investment.

Wellness tourists seeking an idyllic environment that offers slow-paced relaxation should look no further than the quaint island of Salt Cay within the Turks and Caicos Islands.

With just 108 residents and a landmass of 2.6 square miles, this small island is the perfect backdrop for a wellness resort. Visitors can get back to nature and leave their stresses behind within the charms of Salt Cay with its white-sand beaches and clear blue seas. This combined with local wildlife encounters and a rich history, provides the island with all the attributes to take advantage of the rapidly expanding wellness economy.

Following the lifting of travel restrictions, wellness tourism is bouncing back as tourists seek destinations that offer serenity, authenticity and sustainability. With GWI consumer surveys forecasting average annual growth rates of 20.9% for wellness tourism from 2020-25, now is the ideal time for investors to act in this expanding segment.

"As a tranquil island, it lends to the serenity that comes with just wanting to relax. The ambience that the island itself creates exudes peacefulness. So, a wellness retreat would complement the islands' natural setting where time seems to stand still, visitors can experience an authentic, modest, slow pace. A true island life feeling of serene elegance," says Angela Musgrove, senior vice-president of investor services at Invest Turks and Caicos.

"On this little island that time forgot more than 100 acres of private and Crown parcels are available for a commercial development project that will bring to life the historic beauty of this island gem with a low-density eco-friendly resort that will afford its patrons the gift of time travel. This is an investor's dream. A first mover opportunity that only the savviest will snatch.

"This island is the perfect backdrop for a wellness resort that provides visitors a gateway to rejuvenation, relaxation, and reconnection."

As the name suggests, much of the heritage that Salt Cay looks to preserve or restore relates to its history in salt production, which dates back to 1673. Salt became the island's main source of income for approximately 250 years, even supplying forces during the American Revolutionary War.

Much history has been left behind, from salt salinas and windmill foundations to...