Don’t Allow TCI to Become Jamaica, Businessman Warns

Businessman John Wildish has cautioned leaders in the Turks and Caicos Islands against implementing sweeping policy changes too quickly, warning that missteps could weaken the country’s economy and discourage investment.

Businessman John Wildish addressing the government at the town hall meeting in Providenciales

Wildish delivered the remarks during a government town hall meeting at the Gustarvus Lightbourne Sports Complex in Providenciales on March 10, where residents gathered to discuss proposed national policy changes.

Describing the Turks and Caicos Islands as “a great blessing,” Wildish said the country has created significant opportunities for both residents and investors. However, he urged decision-makers to approach reform carefully and thoughtfully.

“I really love this country, and I want to see this country blessed,” he said, while encouraging leaders to “seek wisdom” and avoid taking reforms “too far too quickly.”

Drawing from his upbringing in Jamaica and his international business experience, Wildish pointed to what he described as starkly different economic outcomes between Jamaica and Singapore. He argued that Jamaica, once in a stronger economic position, made policy decisions that ultimately drove away investment and talent.

“Jamaica went from being richer than Singapore to a lot poorer,” he said, noting that Singapore’s average gross domestic product now stands at approximately US$99,000, compared to about US$7,000 in Jamaica.

He attributed this divergence to policy direction, referencing the leadership of Singapore’s founding Prime Minister Lee Kuan Yew, who he said maintained a careful balance between development and regulation. In contrast, Wildish argued that Jamaica “went a little bit too far” and experienced long-term economic consequences.

To illustrate his concerns, Wildish used an analogy from his experience in the cattle industry. He explained that while cattle in Cuba may be inexpensive to purchase, strict limitations on selling meat or milk make them commercially impractical.

“The problem is, you can’t make money off those cows,” he said, using the example to emphasize that economic policies must allow for viable business activity.

Wildish warned that similar outcomes could occur in the Turks and Caicos Islands if policies unintentionally restrict development or investment. He referenced concerns about land use and development proposals, suggesting that limitations, particularly in areas such as North Caicos, could discourage economic activity.

“You don’t want to unwind this place,” he said, cautioning that even well-intentioned policies can have unintended consequences if not carefully balanced.

He also referenced the era of former Jamaican Prime Minister Michael Manley, arguing that rapid and far-reaching changes during that period contributed to economic decline.

Despite his concerns, Wildish expressed appreciation for the opportunities the Turks and Caicos Islands has provided to many individuals, including himself. He noted that the country has enabled people to build wealth and livelihoods, and said preserving that environment should remain a priority.

“This country has made a lot of people money… and God bless this country,” he said.

Wildish concluded his remarks with a call for measured leadership, urging policymakers to carefully consider the long-term impact of their decisions.

“Seek wisdom. Try to make the right decisions. And don’t take it too far too quickly,” he said.