After two tumultuous years, 2023 remains characterized by headwinds facing countries across the world. Our previous publications have highlighted the unprecedented nature of the COVID-19 shock to economies across the Caribbean region, particularly given its extreme dependence on external demand for resources, tourism, and finance. Just as the pandemic’s effects began to … [Read more...] about Headwinds facing the post-pandemic recovery in the Caribbean
What’s next for Barbados’ tourism industry?
Tourism has been one of the sectors most affected by the COVID-19 pandemic. This once-in-a-century event has generated the worst demand shock in tourism’s recorded history. One year into the pandemic, demand for hotel rooms and cruise trips are yet to recover. In tourism-dependent countries like Barbados, companies are struggling to survive. The … [Read more...] about What’s next for Barbados’ tourism industry?
Time to Pivot: The Caribbean as a World Leader
Barbados Prime Minister Mia Mottley believes the Caribbean can be a global leader in technology and innovation. In an inspiring message at the launch of the first Pivot Event, Prime Minister Mottley called on Caribbean people to shed their lack of cultural confidence for the region to take its place as a global leader. “We must have the cultural confidence to develop … [Read more...] about Time to Pivot: The Caribbean as a World Leader
When Facing a Black Swan, Let’s Work Together
COVID-19 in Barbados is proving to be a perfect example of what Nassim Nicholas Taleb termed a “black swan”. It is a rare event, with an extreme impact and which, in retrospect, could have been predicted. As discussed in our latest Caribbean Quarterly Report July 2020, the pandemic reached Barbados in March 2020 and has since been putting both lives and livelihoods at stake in … [Read more...] about When Facing a Black Swan, Let’s Work Together
Barriers to Financial Access in Barbados—Key Challenges and Focal Areas for Reform
The mobilization of domestic financial resources is increasingly recognized as an important development challenge for countries around the world—this is also true for Barbados. Barriers to financial access act as a brake on private sector investment and growth, with adverse implications for broader economic development objectives. In order to shed light on this issue, our … [Read more...] about Barriers to Financial Access in Barbados—Key Challenges and Focal Areas for Reform