The Caribbean region is one of the most exposed to the pandemic economic shock, due to its dependence on tourism and travel. Nevertheless, Caribbean countries have been largely successful in containing COVID-19 transmissions. After months of restricted movement between countries and within national borders, during this second half of 2020 countries are re-opening and … [Read more...] about How can we use innovation to transform post-pandemic tourism?
Innovation & Change
COVID-19 has generated a previously unimaginable shock to economic activity in some sectors for counties across the world—an ‘extreme outlier’ event in statistical terms. For many countries, shocks of this magnitude have not been experienced except during periods of armed conflict or extreme natural disasters. A recent publication from Inter-American Development Bank (IDB) … [Read more...] about Extreme Outlier: The Pandemic’s Unprecedented Shock to Tourism in Latin America and the Caribbean
The Inter-American Development Bank’s (IDB) Caribbean Department has published a special edition of its Caribbean Quarterly Bulletin—also detailed on our new dedicated website—focused on the evolving economic and human consequences of the COVID-19 outbreak for the region. Our team of economists from across the region has been advising IDB senior management and member-country … [Read more...] about Caribbean Economies in the Time of Coronavirus
Transport operators in Jamaica are feeling the pinch from social distancing measures to restrict the spread of the COVID-19. Many continue to operate by choice or to fulfill obligations to get essential workers to and from their jobs. For drivers, the reduction in demand will certainly translate into depressed incomes, from reduced hours for those employed in the formal sector … [Read more...] about How the Coronavirus could be changing public transportation in Jamaica
IDB member countries in the Caribbean are feeling the economic impact of the coronavirus pandemic. The lifeblood of tourism has stopped flowing to The Bahamas, Barbados and Jamaica. Falling commodity prices are impacting Guyana, Suriname and Trinidad and Tobago. All are grappling to control a public health crisis that is straining human and financial resources. IDB experts … [Read more...] about Coronavirus and the Caribbean: economic implications and options