Cave Hill a major foreign exchange earner
BARBADOS BENEFITS FROM nearly $200 million in overall economic activity as well as some $80 million in foreign exchange earnings yearly through the University of the West Indies Cave Hill Campus.
This is according to an impact study done by the university, which was presented yesterday by senior lecturer in UWI’s department of economics, Dr Winston Moore, along with Dr Dion Greenidge and Dr Wilberne Persaud of UWI’s management studies and economic dapartments.
Moore said the campus’ contribution to Barbados’ ailing economy was over two per cent of the Gross Domestic Product (GDP), mainly as a result of tuition fees from foreign students and projects income.
He also noted that in 2013 the campus’ foreign exchange earnings were about $87 million, a little lower than in 2012, but they had outstripped the foreign exchange earnings from sugar which was $16 million, and rum which was $86 million. (RJ)