Yacht Services Association of Trinidad & Tobago  

 

 

PO Box 2852 TT Post, Chaguaramas

Tel:  (868) 634 4938  Fax:  (868) 634 2160

E-Mail: info@ysatt.org  or  ysatt@tstt.net.tt

 

  

 

 

 

Introduction & Objectives  I  Methodology  I  Background Information  I  SWOT Analysis  I  Price Comparisons - Consume Goods

Price Comparisons - Marine Related  I  Non Fiscal Comparisons  I  Trinidad's Competitive Position  I  Recommendations  I  Next Steps

Conclusions  I  Annex I - List of Consumer Goods Prices  I  Annex II - List of Persons, Publications & Websites Consulted

 

 

SWOT Analysis

 

How does Trinidad compare with its Caribbean neighbours in terms of price, location, reputation, expertise, convenience, range of services etc?  It is important to note that customer perception may be more important than reality.  The message given by the yachtsmen who come to Trinidad is that the processes here are not favourable; we are seeking to determine whether this is indeed the case.

 

Understanding the competition

 

One of the best ways of understanding our immediate competition and assessing where we stand is through a SWOT analysis.  By identifying the strengths, weaknesses. Opportunities and threats to the yachting industry, we can determine what areas we need to capitalise on and those that need improvement. 

 

 

STRENGTHS

 

Excellent support services – chandleries

Excellent ancillary services, provisioning & modern conveniences

Natural geographic advantage – below critical hurricane belt

Yacht in-transit mechanism in use

Large existing pool of skilled labour Competitively priced - fuel, labour

Largest covered shipwright building in Caribbean

 

Largest commercial travel lift in Caribbean

Dedicated association for the industry - YSATT Ready availability of high quality teak

Carnival

Eco-Tourism     

 

Secretariat of the Caribbean Marine Association

 

WEAKNESSES

 

Lack of marketing and promotion to new markets

Poor reputation of customer service

Lack of infrastructure for Super yachts

Unavailability of training for tradesmen

Restrictions on foreign investors and workers

Lack of reliable economic data on the sector

Lack of legislation  specific to the yachting industry

Lack of blue water sailing in Chaguaramas, Trinidad

VAT and duties payable on visiting yachts retail purchases

Poor wastewater management system

Perception of high labour costs Inefficienent procedures and regulations e.g. Immigration

Increasing Crime and poor perception of police response  

Lack of facilities in Tobago for meaningful yacht-related spend

 

OPPORTUNITIES

 

Increasing marketing efforts to new markets

Increasing Government participation in the industry

 

Implementation of over the counter VAT free sales

 

Insurance during hurricane season

Cricket World cup 2007

Establishment of infrastructure in Tobago

Training for the industry through UTT

 

THREATS

 

Poor understanding of the value of the industry to the economy

Dormant capacity in Chaguaramas, no room for additional marinas in Chaguaramas

Lack of interest by youths to learn the skills for the industry

Poor customer service skills by point of entry officials Lack of facilities in Tobago

Further development of the energy sector in Chagua-ramas

Negative local perception of the industry

Increasing competition within the region