Tobago should become a digital nomad haven

In recent years, countries around the world have been increasingly focusing on attracting digital nomads as part of their economic strategy.

Digital nomads, defined as individuals who work remotely while travelling to various destinations, have become a valuable demographic, thanks to their unique lifestyle, which merges work and tourism.

Unlike traditional tourists, digital nomads stay for extended periods, contributing consistently to local economies through housing, dining and other services.

Countries including Portugal, Croatia and Barbados have embraced digital-nomad visas to tap into this growing trend, recognising that nomads boost local businesses without competing for jobs in the local market.

For instance, in Barbados, the introduction of the Welcome Stamp for digital nomads has been a significant economic boost. Barbados saw a rise in tourism revenue, with digital nomads staying for long periods, adding to GDP through their sustained spending on housing and local services.

In just one year, the Welcome Stamp visa programme brought in an estimated US$100 million to the local economy (according to a Business Barbados article from 2022).

By creating policies that cater to this new group of workers, countries are stimulating their economies while building resilient and diverse tourism markets. With their high spending power and extended stays, digital nomads are not only enhancing the tourism sector but also contributing to broader economic growth without straining local resources.

This trend presents a unique opportunity for Tobago to position itself as a digital nomad haven, tapping into a global movement that benefits both locals and visitors.

To position Trinidad and Tobago as a digital nomad-friendly destination, the country should focus on the following key elements:

– Introduce a digital nomad visa: This visa should allow remote workers to stay for extended periods, similar to Barbados’ Welcome Stamp or Estonia's digital nomad visa.

It ensures that digital nomads can live and work legally without competing in the local job market.

– Enhance digital infrastructure: Reliable, high-speed internet is critical for remote work.

Investment in fibre-optic networks and the availability of co-working spaces would be essential to meet the needs of nomads.

– Affordable living and accommodation options: Providing a range of housing options that cater to different budgets, along with co-living and co-working spaces, would attract digital nomads. Affordability is a significant factor for long-term stays.

– Tax incentives or exemptions: Offer tax relief or exemptions for digital nomads on foreign-earned income, ensuring that the country remains financially attractive without burdening local resources.

– Create a supportive community and ecosystem: Establish a welcoming environment through networking events, workshops and partnerships with local businesses.

Building a digital nomad community can enhance the destination's appeal, as seen in places like Portugal and Croatia.

Tobago offers the perfect blend of tranquility and natural beauty, making it an ideal spot for digital nomads seeking work-life balance.

With its affordable cost of living, stunning beaches, rich culture and eco-tourism activities, Tobago provides a serene environment that fosters creativity and productivity.

Additionally, its proximity to Trinidad ensures access to larger business networks and services while maintaining its relaxed, laid-back charm.

The top three reasons we should focus on attracting digital nomads are:

– Economic boost: Digital nomads contribute significantly to local economies through long-term stays and spending on housing, food and services.

Countries around the world have seen millions added to their GDP through nomad visa programmes.

– No competition for local jobs: Since digital nomads work remotely for foreign companies, they do not compete with local workers for jobs, making them an ideal group to attract without disrupting the local job market.

– Stimulating innovation and infrastructure: The presence of digital nomads often leads to improvements in local infrastructure, such as better internet connectivity and co-working spaces, benefiting both locals and visitors.

The government must seriously consider attracting digital nomads as a strategic move for immediate economic growth, especially for Tobago.

While the focus has been on enticing popular hotel chains to the island, this has drawn substantial criticism from environmental groups concerned about the impact on Tobago's natural beauty.

On the other hand, encouraging digital nomads to settle in the already available rental spaces is a more sustainable and less invasive option.

Digital nomads would inject consistent revenue into the local economy by staying longer and spending more on local services.

Additionally, Trinidad and Tobago already has the infrastructure to support this initiative. With a lower cost of living than many other Caribbean nations, favourable utility rates and good internet speeds, the country is well positioned to compete in this space. This is a unique opportunity to bolster tourism and increase GDP without waiting for the lengthy and controversial process of building more hotels.

Attracting digital nomads can be implemented much more quickly and with fewer resources, delivering immediate results.

It’s time for the government to shift its focus to this forward-thinking solution that blends economic growth with environmental sustainability.

Keron Rose is a digital strategist who works with businesses to build their digital presence and monetise their platforms.

Learn more at KeronRose.com or listen to the Digipreneur FM podcast on Apple podcast, Spotify, or Google podcasts.