Panel stresses need to diversify
Although tourism has played a significant role in developing Barbados and is a key sector in the recovery from the COVID-19 pandemic fallout, there needs to be a shift in the structure of economic dependency.
This was one of the main talking points during yesterday’s discussion on VOB’s Sunday Brasstacks.
Panellists Dr Kerry Hall, former chief tourism development officer; Roseanne Myers, chairman of the Barbados Tourism Marketing Inc. (BTMI); and Geoffrey Roach, chairman of the Barbados Hotel & Tourism Association (BHTA), agreed that tourism contributed greatly to the economy but there was room to make it more sustainable and the country must go beyond relying so heavily on a single industry for fiscal growth.
Hall said that for years many thinkers talked about the need to diversify the economy but nothing was put in place to get those gears going, adding that it was important to look at areas that were not vulnerable and susceptible to external shocks. (SB)
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