BARBADOS’ heavy dependence on tourism for its economic survival is leaving it vulnerable and at the mercy of the economic plight of developed countries such as Canada, Britain and the United States.
With the fluctuations in the economic conditions of the developed countries in recent months, due to lower oil prices, declines in the stock market levels, and the contraction of business expansion in certain sectors of economies worldwide, Caribbean countries that are heavily dependent on tourism should proceed with extreme caution because the celebration of a good tourist season may be short-lived.
A good example is what is now happening with the spread of the Zika virus in the Caribbean.
The Government of Barbados, therefore, needs to invest heavily in agriculture in order to promote a more diversified economy and in order to reduce its dependence on imports.
With the sugar industry on the decline, alternative products such as yams, potatoes, bananas, avocados, breadfruits, coconuts and similar agricultural products need to be identified and exported to the large West Indian populations that exist in the developed countries, and for which there is a growing market and demand.
Improvements in the production and marketing methods of such products will serve Barbados and other Caribbean countries well in the future if the proper investments are made soon.
Even though younger Barbadians may not see the benefit of being involved in agriculture at this time, it should still be promoted at all levels of society including the schools, universities and higher institutions of learning as a career-oriented path to success.
– ASHLEY L. MCCLEAN
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