Focus on niche areas to rebuild economies – Coke-Hamilton

(Barbados Today) Barbados and other small island developing states are being warned of the urgency to think more strategically about what should be done to revitalise their economies and increase resilience and sustainability.

In fact, trade and development officials have insisted that while tourism should remain a key sector to Barbados’ earning potential, greater linkages with other sectors, an increased use of technology and stronger focus on developing the services industry must be the order of the day.

The suggestions were made during the Barbados Coalition of Service Industries (BCSI) Fish Bowl conversation series on Wednesday, which was held under the theme Services for Economic Resilience and Post-Pandemic Recovery.

Director of the International Trade Centre (ITC) Pamela Coke-Hamilton said in order to advance services competitiveness for resilience and recovery the answer was not to move away from the vital tourism sector, but to “diversify, modernise and build sustainability principles into the current industry”.

Read more at: Barbados Today

Source: CARICOM TODAY