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Tourism

Tourism

Key Indicators

Magens Bay Beach in St. Thomas ranks No. 24 in World’s Best Beaches for 2023, according to TripAdvisor; Trunk Bay in St. John ranks No. 6 on The World’s 50 Best Beaches presented by Banana Boat.

Home to 6 national parks throughout the three islands, including Virgin Islands National Park, covering over 60% of St. John

Technology

Overview

Tourism thrives in the U.S. Virgin Islands, driving over half of GDP and employment. With over two million annual visitors, it presents significant business opportunities across various sectors. The Hotel Development Act aids in building new tourism facilities by allowing developers to use hotel occupancy and casino taxes for financing. Major hotels include Chenay Bay Beach Resort and Caneel Bay Resort. Water Island, accessible from St. Thomas, offers laid-back activities like kayaking, popular among cruise ship passengers.

a group of boats floating on top of a body of water

Areas to Contribute to Growth

Heritage

Culture

Sports

Adventure

Wellness

Industrial Incentives

S.T.A.R.S.

The Sustainable Tourism through Arts-based Revenue Stream (S.T.A.R.S.) will advertise and promote USVI for major and minor film productions and music/audio recording projects with up to 17% transferable tax credit and a 29% cash rebate.

Hotel Development Program

Hotel Development Program to assist in the development of new hotels, resorts, and other related tourism by allowing hotel developers to use a portion of their hotel occupancy and casino taxes to repay long-term loans

Companies

Waypoints Yacht Charters

Waypoints Yacht Charters

Waypoints Yacht Charters has acquired CYOA Yacht Charters, the Virgin Islands charter company with nearly 40 years of operations, and will take over its Frenchtown, St. Thomas base, the company announced. Kirstie Palmer, president and partner at Waypoints Yacht Charters, a well-respected charter industry veteran, took over in May of 2021 and has overseen the company’s continued expansion.

Fortress Investment Group

Fortress Investment Group

Fortress Investment Group, an American investment management firm based in New York, has acquired Marriott Frenchman’s Reef on St. Thomas. The total investment is expected to be more than $402.6 million, including renovating hotel rooms and amenities for elevated guest experiences.

How the Economic Development Authority
Can Help You

Unlock new horizons within the US Virgin Islands with the business potential our territory offers with the help of the USVI Economic Development Authority.
With tailored tax programs, incentives, financing options and more.

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