The ongoing Middle East conflict may seem far away from these shores. It isn’t.
For the Virgin Islands, the danger is immediate in at least two ways: first for any Virgin Islanders who may now be in or near the conflict zone, and second for an economy that is acutely exposed to global shocks far beyond the territory’s control.
The human concern, of course, comes first. If Virgin Islanders are in the region, especially in places now under threat, they could be in serious danger. On that front, the government deserves credit for monitoring the issue and preparing for any evacuations that may become necessary.
Such steps are key. So is the “Register Your Presence” initiative supported by the Governor’s Office and the United Kingdom’s Foreign, Commonwealth and Development Office. Anyone in the affected region should take that advice seriously and register without delay.
But the rest of us should not make the mistake of thinking this crisis is only someone else’s problem.
The VI’s financial services industry has strong links to the Middle East, especially Dubai, and many firms here have offices in the region. That exposure carries risk. To their credit, most major firms have built remote backup systems and flexible operating models precisely for moments like this. That resilience should help limit disruption.
But “limit” is not the same as “avoid.” Business operations and client activity will still be affected, particularly if the conflict continues to escalate.
The territory’s tourism industry also faces risks during any period of global uncertainty.
Then there is the cost-of-living threat, which seems sure to hit every household in the VI.
The premier is right to warn about rising oil and gas prices. In a shipping-dependent island economy like the VI’s, that increase does not stop at the pump. Higher fuel costs ripple outward into electricity bills, freight charges, supermarket shelves, restaurant menus and the price of almost everything else.
At a time when families are already straining under rampant inflation, another imported price shock is the last thing the territory needs.
Preparation, then, cannot be limited to monitoring the headlines. The government should move urgently to realise long-promised cost-of-living measures, including the basket-of-goods initiative and related reforms aimed at bringing relief to consumers. This is no time for another round of promises without action.
Meanwhile, the wider community — including businesses, non-profit organisations and other residents — should also start planning now for possible disruptions, higher costs and a more uncertain global environment.
The Middle East may be thousands of miles away, but distance offers scant protection for a small and vulnerable international economy like this one. Warning lights are flashing.