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 Economic Outlook Survey 2025:

Business Leaders Call for Clear 
Economic Strategy
 By AMCHAM T&T Staff Writer 

​LINKAGE Q1 (2025) - ACCELERATE ACTION

A t AMCHAM T&T’s Economic Outlook Forum, held at the Trinidad Hilton & Conference Centre on January 29, 2025, AMCHAM T&T President, Stuart Franco, addressed concerns from the business community regarding economic uncertainty and the need for a clear national development plan.

Business Leaders Express Concerns Over Economic Confidence
Franco noted that a majority of business leaders expressed a lack of confidence in the economy for 2025, with many attributing their concerns to the absence of a well-defined strategy for long-term growth.

In his Opening Remarks, Franco urged those aspiring for political office to move beyond rhetoric and focus on clear policy solutions to address the country’s economic challenges.

He emphasized, “Those aspiring to political office must start talking about policy, with specifics, to address the myriad of problems facing T&T.”

Franco also called for greater collaboration between policymakers and the private sector, stating that business leaders must be involved not only in the development of economic strategies but also in their execution.


Stuart Franco - President | AMCHAM T&T

Strengthening U.S.-T&T Trade Relations and Nearshoring
Highlighting T&T’s strong economic ties with the United States, Franco said, “We have to ensure that we are engaging the new Administration on multiple fronts, emphasizing our mutual interests and avoiding the diplomatic pitfalls that could hamper an otherwise excellent and strong relationship.”

He stressed the importance of accelerating nearshoring strategies, particularly in industries where U.S. companies and foreign investors stand to benefit from expanding operations in T&T.

“It may seem daunting but with a little thought and deliberate, strategic effort, it can be done,” he added.

Investing in the Digital Economy and AI
A key theme of Franco’s address was the urgent need to invest in digitalization and Artificial Intelligence (AI) to boost economic and social growth.

“Trinidad and Tobago can capitalize on this by investing in education and training programs that equip our youths and our workforce with the skills needed to thrive in an AI-driven economy. This will help diversify our job market and build a more resilient economy,” Franco said.

He also highlighted AI’s role in enhancing export potential, attracting international partnerships, and fostering innovation, adding that it could position Trinidad and Tobago as a regional leader in the digital economy.

Economic Outlook Survey Findings 2025
Also, at the Economic Outlook Forum, Indar Ramcharan, A.I. & Data Lead at EY presented the findings from a survey conducted by AMCHAM T&T and EY to gather perspectives on how companies are driving their strategy and growth in the current business landscape. 

Based on the results, 79% of respondents indicated that they were not confident that the local economy will grow in 2025. These numbers reflect an almost 180-degree turnaround from last year to this year when 71% of respondents expressed confidence in the economy in 2024. The major factors influencing this lack of confidence were rising inflation (79%), higher operating costs and low ability to raise prices (65%), unclear or inadequate medium-to-long term national development plan (65%) and supply chain problems (40%).

 Indar Ramcharan, A.I. & Data Lead at Ernst & Young

With General Elections upcoming in T&T, the private sector says crime prevention and reduction (92%) should be government’s top priority to positively impact business. The private sector also recommended addressing foreign exchange inaccessibility (82%) and incentives to attract Foreign Direct Investment (51%) which should be high on the government’s priority list. 

Meanwhile, Emerging technologies, including AI (53%), Changing customer needs and expectations (51%) and Shifting global economic environment, geopolitical disruption, including trade tensions and conflicts (50%) were considered the most disruptive forces by businesses that will drive the most change in their respective industries and key markets over the next 12 months. Overall, 59% of respondents said companies were “moderately responsive” and making progress to these disruptions but still need improvement in key areas.

Digitalization, particularly generative AI, is having a notable impact on organizations, with 30% reporting increased productivity and efficiencies, and 22% seeing improvements in their internal functions. Additionally, 34% of companies anticipate that digitalization will begin to reshape their business and operating models, as well as transform their internal functions, within the next 1-2 years.

As digitalization grows, so does the focus on cybersecurity. Companies have identified the top three strategies to strengthen their cybersecurity frameworks over the next 12 months: 34% are prioritizing cyber resilience and recovery, 31% are enhancing awareness through role-based training, and 31% are implementing data privacy programs.

Finally, 81% of respondents reported no significant impact to access financing resulting from either pursuing or not pursuing ESG initiatives. However, 49% of respondents said they are affected by delays at the Port, and 50% of respondents (12% increase from 2024) indicated obtaining FOREX has become more difficult over the past 12 months. Meanwhile, 53% of respondents say crime is impacting businesses with an increase in costs due to security, insurance, etc.

AMCHAM T&T would like to extend our sincere gratitude to all members who took part in the Economic Outlook Survey for 2025, as well as to our partners at EY for their invaluable facilitation and collaboration on this initiative. We also wish to thank our Platinum Partners – Phoenix Park Gas Processors Limited, Trinidad and Tobago Mortgage Bank, and our Technology Partner, Vistrac Limited, for their generous support of the Economic Outlook Forum 2025.


Click the image below to view the SURVEY RESULTS