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Providenciales is the most tourist-oriented and developed of the Turks and Caicos Islands, boasting many resort hotels and an 18-hole golf course. [3] The island has recently become popular with retirees from around the world, kindling a boom of residential development. Grace Bay has seen many luxury condos built on its shores. [citation needed]
The economy grew in the 1960s, when American investors arrived on the islands and funded the construction of an airstrip on Providenciales and built the archipelago's first hotel, "The Third Turtle". [73] A small trickle of tourists began to arrive, supplementing the salt-based economy. Club Med set up a resort at Grace Bay soon after.
Originally, Marriott Vacation Club properties were sold as weeks. A "fixed week" granted the owner the right to use their villa during a specific week each year (such as week 52, which includes New Year's Eve), or the right to use their villa during a specific "season" (defined on a per-resort basis), which granted the owner the right to reserve their villa for any available week within that ...
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