I wanted to share something that’s been causing quite a stir in the boat charter world lately. The British Virgin Islands (BVI) is considering some major changes to its boat charter regulations, and if they go through, it could completely shake up the industry here, and in the U.S. Virgin Islands (USVI) too.
Basically, there’s a bill under consideration that could dramatically hike up the annual fees for USVI-based commercial yacht charters operating in BVI waters. For example, the fee for an overnight charter operator could jump by 5,900%, from about $400 to $24,000! Day sail charter operators would see a similar increase, with fees skyrocketing from $200 to $12,500. This could take effect as soon as June 1.
A lot of people are concerned, especially small, privately owned charter companies. Larger businesses might be able to absorb these extra costs, but smaller ones probably can’t, and if they pass those costs on to customers, it could drive people away. If enough charter operators leave, it could have a ripple effect that impacts the whole economy here in the USVI.
Staci Smith, who’s the executive director of the Virgin Islands Professional Charter Association, pointed out that the new fees could cause a mass exodus of charter operators. If that happens, the USVI might lose a lot of its charter business. This would hit everyone from boat mechanics to hotel staff, and even taxi drivers. Plus, without BVI waters to sail in, anchorages here in the USVI could get overcrowded, possibly even worse than during the COVID-19 lockdowns!
The Professional Charter Association is holding a meeting on February 18 to talk about these proposed changes and come up with a plan. It’s happening at the Harbor360 Building in Yacht Haven Grande on St. Thomas at 5:30 PM, so if you’re around, it could be worth checking out.
BVI charter operators are worried too, and a group of them has written to the BVI Premier to say that while the 1992 act does need to be updated, these proposed changes go too far. It’s a bit of a mess, and a lot of people are feeling anxious about what it might mean for the future.
Just thought I’d let you know what’s going on. It’s definitely something that could affect all of us, especially with so many businesses here depending on the charter industry.
