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 2017-2018 published annually by the World Economic Forum ranked Trinidad and Tobago favourably within the Latin America and Caribbean region on some key sub-indices.

  • #3

    Export as a percentage of GDP
  • #2

    Prevalence of Trade Barriers
  • #2

    Mobile Telephone Subscriptions 100/pop
  • #2

    Quality of Education Systems
  • #4

    Quality of Management Schools
  • #3

    Local Availability of Specialized Training Services
  • #3

    Effect of taxation on incentives
  • #7

    Local Supplier Quantity

Minimum wage comparison

Country$
Barbados3.13
Belize1.65
Colombia1.27
Costa Rica1.85
Dominican Republic0.38
Grenada2.50
Guatemala1.65
Guyana0.98
Honduras1.08
Jamaica1.21
Mexico0.48
Nicaragua0.51
Panama1.53
St Kitts & Nevis3.33
St Lucia1.85
Suriname1.15
Trinidad & Tobago2.21
Venezuela0.01
Source: www.minimum-wage.org

Energy Cost Comparison

The cost for electricity for commercial/industrial use per kWh based in the largest business city within each country. State electricity prices are the average price of electricity (per kWh) to industrial customers, inclusive of all fees and charges.


 

CountryCost (US Dollars)
Mexico0.071
Trinidad and Tobago0.073
Guatemala0.123
Colombia0.144
Costa Rica0.146
Brazil0.154
El Salvador0.158
Honduras0.211
Panama0.212
Dominican Republic0.213
Jamaica0.233
Barbados0.245
Guyana0.289
Nicaragua0.332
Source: www.fdibenchmark.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$

Country Cost/ m3 (US Dollars)
Trinidad and Tobago0.56
Barbados3.89
Jamaica1.4154
El Salvador4.578
Honduras4.86
Costa Rica2.7476
Mexico1.4748
Panama0.3432
Guatemala0.7499
Colombia1.1283
Brazil2.4997
Dominican Republic0.9826
Guyana0.0262
Nicaragua0.4
Source: fDi Benchmark, a service from the Financial Times Limited 2018, www.fdibenchmark.com

COMPARATIVE COST OF PREPAID MOBILE MONTHLY

Mobile- Cellular prices refers to the monthly usage price for 30 outgoing calls per month in pre-determined ratios (on-net/ off-net to a fixed line and for peak and off-peak times) plus 100 SMS messages.  It is calculated as a percentage of a country’s average monthly GNI percapita.

The mobile-cellular prices are based on the prepaid prices operator with the largest market share (as measured by the total number of mobile- cellular subscriptions).  Postpaid prices are used for countries where prepaid subscriptions male up less than 2% of all mobile subscriptions.

Prices refer to regular (non-promotional) plans and exclude promotional offers and limited discounts or user groups or any other discounts for services specifically based on type of phone or time of day usage.

CountryCost (US Dollars)
Trinidad and Tobago16.50
Barbados28.10
Jamaica8.50
El Salvador13.80
Honduras14.10
Costa Rica3.90
Mexico8.10
Panama12.60
Guatemala27.40
Colombia13.30
Brazil11.90
Dominican Republic14.00
Guyana13.10
Nicaragua27.00
Source: International telecommunications Union (ITU), www.itu.int

COMPARATIVE COST OF FIXED BROADBAND MONTHLY

Fixed-broadband prices refer to the price of a monthly subscription to an entry-level fixed broad-band plan. This indicator is calculated as a percentage of a country’s average monthly GNI per capita.

For comparability reasons, the fixed broadband prices are based on a monthly data usage of (a minimum of) 1GB.  For plans that limit monthly amount of data transferred by including data volume caps below 1GB, the cost of the additional bytes is added to the sub-basket.  The minimum speed of a broadband connection is 256kbit/s. Tariffs are collected from the ISP with the largest market share (as measured by the number of subscriptions.

Prices refer to regular (non-promotional) plans and exclude promotional offers and limited discounts or user groups or any other discounts for services specifically based on type of phone or time of day usage.

CountryCost (US Dollars)
Trinidad and Tobago15.50
Barbados28.10
Jamaica8.50
El Salvador13.80
Honduras14.10
Costa Rica3.90
Mexico8.10
Panama12.60
Guatemala27.40
Colombia13.30
Brazil11.90
Dominican Republic14.00
Guyana13.10
Nicaragua27.00
Source: World Bank Group, International Telecommunications Union (ITU), www.itu.int