July 1 was a big event for the British Virgin Islands as July 1 is its 50th anniversary date - on July 1, 1956 the Virgin Islands officially became an autonomous Territory.
So, back in 1956 it was decided that the BVI be established as an autonomous Territory – as a result, the BVI of today is a separate political entity with its strong and rapidly developing economy.
The BVI is still going along the road of self-government and economic development and therefore it is vitally important for it to be aware of its history. Not only the history of the first islanders is important for the BVI, but the history of its last 50 years is essential as well.
The celebration of the BVI 50th anniversary organized by the government of the British Virgin Islands as well as the Ministry and Department of Education and Culture was open to the public as an opportunity for the Islanders to affirm their identity and feel a sense of national pride for themselves and their Territory. The ceremony began with Governor David Pearey and Chief Minister Dr Orlando Smith inspecting the guards. The public was entertained by several musical groups, including the BVI High School Jazz Band.
After its establishment as a separate entity in 1956, the group of islands did not join the 1958-1962 West Indies Federation of British Virgin Islands in order to preserve its economic ties with the US Virgin Islands. In the 1950's and 60's, Laurence Rockefeller made application to the BVI government to build a resort at Little Dix Bay on Virgin Gorda which was opened in 1964. This was the 1st vacation resort established in the British Virgin Islands. In 1967, a new constitution was adopted and a ministerial system of government has been headed by a Chief Minister until now and is still under British control.
In the beginning of the 1980's an offshore financial services sector began to develop. During the 1980-1991, the population of the BVI almost doubled because expanding economic activity attracted many people from neighbouring countries and the Caribbean region. The economic development led to radical demographic and social change in the BVI.
Nowadays, the BVI is a growing tourist centre attarcting many tourists from all over the world. Besides tourism, the BVI continues to have a very low unemployment, a well-developing economy and political and social stability.
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