Tobago

Tobago's economy

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Trinidad and Tobago has the most diversified and industrialised economy in the English-speaking Caribbean.

There are large reserves of petroleum and natural gas, and well developed heavy industries - iron and steel, methanol and nitrogenous fertilizers and petroleum products.

Air, sea and land transportation links are excellent, and telecommunications links with the Americas and Europe are completely modern.

During the 1970's, high world oil prices created a rapid expansion of the local economy, with real GDP growing by 72.5% between 1970 and 1977. These were the boom years in Trinidad and Tobago and much of the country's infrastructure was developed during this period. However, depressed oil prices coupled with high levels of public expenditure led to a prolonged period of economic contraction which began in 1988 and finally ended in 1993.

Now, after a period of radical economic adjustment under IMF and World Bank supervision, the government economic policy is well in line with prevailing market principles: trade liberalisation, open market-driven economy, rationalisation of the public sector, promotion of private enterprise and foreign investment, and development of exports and tourism.

Tobago Geography

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Location: Latitude 11°N, Longitude 60°W
Physical Area: Fish-shaped, measures 26 miles (42 km) by 7 miles (10 km).
Total Area: 116 square miles (300km2)
Major Towns: Scarborough, Roxborough, Charlotteville

Trinidad and Tobago comprises 1,980 square miles (5128km2), about one and a half times the size of the state of Rhode Island. The territory enjoys a tropical climate with average maximum temperatures of 32°C, (89°F). Tobago's temperatures are cooler, owing to the more constant north east trade winds. There is a dry season from January to May and a wet season from June to December. Annual rainfall is about 200 cm (40 inches) over most of the country. Trinidad and Tobago is just south of the hurricane belt.

General Information about Tobago

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Official Name Republic of Trinidad and Tobago
Capital City Port-of-Spain
Population 1,300,000 (1994)
Official Language English
Currency Trinidad and Tobago dollar (TT$) (TTD1=100 Cents)
Notes $1, $5, $10, $20, $100
Coins 1 cent, 5, 10, 25, 50
Exchange Rate A floating rate system is in force. Currently $1US=$6.24TT; $1CDN = $4.48TT
Taxes Departure Tax: $100TT (must be paid in local currency)
Hotel Taxes 10% service charge, 10% Hotel Room Tax
Value Added Tax 15% on goods and services
Time Zone Summer: EST (Eastern Standard Time), equivalent to GMT (Greenwich Mean Time)-5 hours; Winter: EST+1, GMT-4. Daylight savings time is not observed in Trinidad and Tobago.
Ethnic Profile 39.6% African descent 40.3% East Indian descent
18.4% Mixed descent 0.6% European descent
0.4% Chinese descent 0.2% other
0.4% Not stated

Telephone/Fax Code 1 (868) + seven (7) digit local number
Airports Trinidad: Piarco International Airport, 17 miles (27 km) from Port of Spain (airport code "POS")
Tobago: Crown Point International Airport, 7 miles (10 km) from Scarborough (airport code "TAB")

Airlines Air Canada, American Airlines, BWIA International Airways, British Caledonian, LIAT, Air Caribbean, Surinam Airways, and several Charter Operators.
Emergency Services Police: call 999
Fire & Ambulance: call 990
Customs Travelers cheques and credit cards are accepted by most establishments. For Customs and Excise purposes only cash is accepted
Electricity 115 volts/230 volts (+/- 6%); 60hz
Business/Social Hints Appointments should be made in advance.
For meetings, men should wear a lightweight suit, this may be alternated with blazer and tie. Women should wear equivalent suit.

It is customary to shake hands on meeting and taking leave. Business cards are exchanged after introductory formalities. Some companies/individuals are quite formal whereas others rapidly dispense with formalities once the initial introductions have been made.

Principal Banks These agencies have their main corporate offices in Port of Spain and maintain international links through their affiliates in North America and Europe. Citibank Scotia Bank
First Citizens Bank Republic Bank
Royal Bank Intercommercial Bank

Banking hours are 0800-1400hrs Monday to Thursday, 0900-1200hrs and 1500-1700hrs on Fridays.

Major shopping malls also either contain ABMs (Automated Banking Machines) or full service branches and generally keep later opening hours ranging from 0800 - 1800hrs. The banking system features LINX, which enables client access to accounts from any ABM regardless of agency in the country. LINX can also be used to make purchases at retail outlets throughout the country. ABMs can also be used to access advance cash withdrawals for VISA, MasterCard and VISA Plus clients.

Business Hours Retail Outlets: 0800-1600hrs on Monday to Thursday and Friday until 1800hrs. Retail outlets based at shopping malls remain open till 2100hrs.
Offices: 0800 - 1600hrs Monday to Friday.

Mail Service is available from 0800 - 2100hrs. at the Piarco Airport.

General offices operate from 0800 - 1530hrs. Duty free shopping is available at the Cruise Ship Complex, Piarco International Airport, and selected downtown Port of Spain shops.

Media, Press Dailies: Trinidad Express, Trinidad Guardian, NewsDay.
One (1) tri-weekly: The TNT Mirror.
Several weeklies: Catholic News, Tobago News, Bomb, Blast, Show Time, The Independent
Media, Television Broadcast: TTT (channels 2 &13, 9 & 14); CCN TV-6 (channels 6 & 18); AVM Television (channels 4 & 16).
Media, Radio AM: NBS Radio (610 AM); Radio Trinidad (730AM)
FM: Hott 93 (93.5/93.1FM); The Rock (95.1FM); WEFM (96FM); Music Radio 97 (97.1 FM); 98.9 YesFM (98.9 FM); NBS Radio (100 FM); WABC (103 FM); Radio Tempo (105 FM); Classic Radio (106 FM); Central Radio (90.5 FM); Love (94.1 FM); Radio ICN (91.1 FM); Radio 104 (104 FM); Power 102 (102.5 FM)

About Tobago

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Tobago is really the last of the “unspoilt Caribbean.” This strip of elongated land just 41 by 14 kilometres, abounds with natural allure: palm-lined beaches, lush rain forests and pristine coral reefs.

The contrast of rolling hills against wave-beaten shores makes the island an unequalled beauty. The south (windward) coast is washed by the dark green, wave-whipped Atlantic and is lined with vibrant fishing villages while the north (leeward) coast provides Tobago with some of its finest beaches. In the main, the eastern landscape of the interior rises steeply into tall peaks, providing shelter for the oldest protected rainforest reserve in the western hemisphere.