Low Business Costs

Low Business Costs

Trinidad and Tobago's success in energy has fueled its rapid development into one of the most industrialized and cost-effective nations in the Caribbean and Central America.

Download Cost of Doing Business Booklet

Some Quick Facts

  • #1

    Cost effectiveness in Central America and the Caribbean
  • US$2.22

    Minimum Wage
  • Lowest

    Electricity rate in western hemisphere

A Leader in Cost Effectiveness

Trinidad and Tobago retained its leading position of #1 for Cost Effectiveness in the Caribbean and Central America (CCA) ranking by fDi Magazine 2015/2016.

What exactly does this mean for you as an investor?

It means that out of 29 countries in the CCA region you are not likely to find another single destination that provides all in one place the most reasonable costs for establishing a business, registering property, accessing construction permits, exporting and importing goods and materials as well as the most competitive tax rates.

The fDi Intelligence report indicates that Trinidad and Tobago is one of three English speaking countries in the CCA to be ranked within the top 10 best overall places to invest in this region. The country has one of the friendliest business environments as well as a higher level of connectivity than approximately 70% of the surveyed locations. T&T’s connectivity ensures that investors are equipped to operate at their optimum with efficient Information Technology and Telecommunications infrastructure in place, wide reaching air and sea bridges, ample port facilities and the lowest energy rate in the entire Western Hemisphere at US$ 0.03 cents per kWh.

Source: www.fdiIntelligence.com, a service of the Financial Times Ltd.

  • #1

    Trinidad and Tobago
  • #2

    Panama
  • #3

    St. Vincent & the Grenadines
  • #4

    Barbados
  • #5

    Dominican Republic
  • #6

    Dominica
  • #7

    El Salvador
  • #8

    Belize
  • #9

    St. Lucia
  • #10

    Antigua and Barbuda

A Cut Above the Rest

The Global Competitiveness Report 2016-2017 published annually by the World Economic Forum ranked Trinidad and Tobago favourably on some key sub-indices.

  • #3

    Export as a percentage of GDP
  • #3

    Prevalence of Trade Barriers
  • #3

    Mobile Telephone Subscriptions 100/pop
  • #4

    Quality of Education Systems
  • #4

    Quality of Management Schools
  • #5

    Local Availability of Specialized Training Services
  • #7

    Effect of taxation on incentives
  • #8

    Local Supplier Quantity

Minimum wage comparison

Country$
Barbados3.13
Belize1.65
Colombia1.33
Costa Rica2.26
Dominican Republic1.01
Grenada1.57
Guatemala2.96
Guyana1.21
Honduras0.98
Jamaica1.19
Mexico0.53
Nicaragua0.68
Panama2.31
St Kitts & Nevis3.33
St Lucia1.85
Suriname1.15
Trinidad & Tobago2.22
Venezuela4.22

Trinidad and Tobago has one of the lowest energy costs in the world from US$.03 per kWh.

Energy Cost Comparison

CountryCost (US Dollars)
Trinidad and Tobago0.03
Barbados0.18
Jamaica0.25
El Salvador0.10
Honduras0.10
Costa Rica0.19
Mexico0.12
Panama0.17
Guatemala0.17
Colombia0.15
Brazil0.15
Dominican Republic0.20
Guyana0.28
Nicaragua0.36
Source: www.kpmg.com, www.doingbusiness.org, www.costoftravel.com

Utilities

A majority of the utility providers are either jointly or fully owned by the state.

  • The Water and Sewerage Authority (WASA)

  • Telecommunications Services of Trinidad and Tobago Limited (TSTT)

  • Trinidad and Tobago Electricity Commission (T&TEC)

Comparative Costs of Water (cubic meter) US$

CountryCost (US Dollars)
Trinidad and Tobago0.17
Barbados1.60
Jamaica3.13
El Salvador0.18
Honduras0.31
Costa Rica0.35
Mexico1.17
Panama3.90
Guatemala0.46
Colombia2.04
Brazil4.11
Dominican Republic0.35
Guyana0.13
Nicaragua0.22
Source: FDI Benchmarks - Financial Times Group, Jan 2016

Comparative Cost of Prepaid Mobile per minute (US$)

CountryCost (US Dollars)
Trinidad and Tobago0.17
Barbados0.25
Jamaica0.08
El Salvador0.14
Honduras0.18
Costa Rica0.07
Mexico0.10
Panama0.12
Guatemala0.21
Colombia0.07
Brazil0.33
Dominican Republic0.16
Guyana0.17
Nicaragua0.47
Source: www.numbeo.com

Comparative Cost of Internet per month (US$)

CountryCost (US Dollars)
Trinidad and Tobago36.24
Barbados45.40
Jamaica29.80
El Salvador53.00
Honduras43.73
Costa Rica48.88
Mexico22.72
Panama41.70
Guatemala53.16
Colombia24.57
Brazil20.19
Dominican Republic20.19
Guyana44.72
Nicaragua42.83
Source: www.numbeo.com