26 June 2026

VI Businesses Invited to Participate in Data Collection Survey

The Ministry of Finance is inviting local business community to participate in a survey that will help calculate the Business Conditions Index (BCI) of The Virgin Islands. 

The BCI is a composite indicator that tracks shifts in business operations and market expectations over time. It  directly informs the Government’s annual forecast of the Territory’s Gross Domestic Product (GDP); the broadest measure of the VI’s economic size and growth. Additionally, by monitoring the BCI across successive survey periods, the Government is better able to identify emerging economic trends and assess current conditions relative to earlier periods. In short, the views of businesses today shape the economic projections that guide government planning tomorrow.

Beyond GDP forecasting, the survey is designed to capture how businesses have perceived economic conditions over the past six months and what they expect in the half-year ahead. This forward-looking data helps the business community identify developing trends, refine performance strategies, and implement mitigation measures where necessary.

Financial Secretary, Mr. Jeremiah Frett, emphasised the importance of this formal data collection, noting that evidence-based economic assessments are especially critical for Territories like the Virgin Islands, given their susceptibility to external shocks.

Mr. Frett said, “While there are informal methods for assessing the market, a formal observational instrument like this survey provides the Government with genuine clarity on the health of the economy." He added, "Combining a straightforward questionnaire with an analytical framework allows us to administer this survey frequently and disseminate findings quickly. This provides both the Government and businesses with timely information on the state of the economy and future trends.”

Business persons can access the survey by clicking the link https://www.surveymonkey.com/r/3DM8ZK7.
The survey takes approximately fifteen minutes to complete, and it covers the sector in which a business operates, the gender breakdown of its employees, perceptions of current economic conditions, the business outlook for the next six months, and the changing dynamics of doing business in the Virgin Islands.

The Ministry of Finance remains committed to providing strategic economic and fiscal leadership to support the sustainable development of the Virgin Islands.

For Additional Information Contact:

Berta McKelly-Adams

Information Officer

Department of Information and Public Relations

Telephone: 468-2730

Email: bmckelly@gov.vg