By Liliana Rojas-Suárez, Desmond Thomas, Editors
Signs aspect to the necessity for Barbados to opposite fresh losses in competitiveness in foreign markets, a problem that the rustic is thankfully good situated to fulfill. during this booklet, specialists speak about the several features of the problem and develop particular proposals for addressing the competitiveness problem dealing with Barbados.
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Extra info for Barbados: Meeting the Challenge of Competitiveness in the 21st Century
Other services are being promoted as a replacement, for example off-shore ﬁnance, while the main product (tourism) is being conﬁgured to target the “high-end” of the regional and global tourism and travel markets: Our objective is to develop Barbados as an upscale destination, without the introduction of mass attractions like casino gambling or a variable exchange rate. (Ministry of Finance, 2002 as cited in ECLAC, 2003) Additionally, the Green Paper on Tourism in Barbados states: The new legal and regulatory framework and policy being developed for tourism are designed to inter alia … sell Barbados as a high quality destination, not only to visit but invest in.
7 percent per annum. 2 percent per annum. There was a resumption of growth (3 percent) in the period 2003–04. For the entire period 1991–2004, therefore, economic growth has shown signiﬁcant volatility, with quite high coefﬁcients of variation and standard deviations at both the overall and sectoral levels (see Table II-2). The sectoral data in Table II-2 reveal the expected strong inﬂuence the tourist sector has had on overall growth as can be seen from the similar patterns in the two periods of negative growth (1991–92 and 2001–02) and the period of positive growth (1993–2000).
All rights reserved. org/pub Introduction: Meeting the Competitiveness Challenge Liliana Rojas-Suárez and Desmond Thomas alternative ways of utilization of sugar, it is highly unlikely that agricultural products can become “champion exports” for Barbados. How, then, can the country achieve much needed export diversiﬁcation? Small size does limit the range of diversiﬁcation that is possible in a small island economy. Nonetheless, efforts are needed to explore fully the potential scope to diversify within existing sectors that have been key sources of exports and to develop a few new sectors with the potential of becoming new sources of exports.
Barbados: Meeting the Challenge of Competitiveness in the 21st Century by Liliana Rojas-Suárez, Desmond Thomas, Editors