BRIDGETOWN, Barbados, Advocate –
It is crucial that this Government takes the opportunity during this increasingly difficult economic period to reassess its strategy for earning revenue. As such, this administration should be commended on its continued multifaceted approach to grow the economy through the development of the manufacturing, agriculture and especially the tourism industry – the latter being the main revenue earner for the country.
Just as private sector companies must re-evaluate their business strategies to ensure continued profits and limited falloff, so too should the Government examine existing sectors and seek to increase revenue generated by reforming existing policies or adopting an alternative plan of action. This is by no means a new suggestion; this practice has been employed by previous administrations with success. For decades Barbados had relied on “King Sugar” as its main foreign-exchange earner; however it became prudent instead to develop a promising tourism industry, which has been successful in putting this country on the map as one of the leading vacation destinations in the Caribbean. Now, it is evident that focus must also be given to the local manufacturing and agriculture sectors so, similarly, work is under way to develop these as well.
The real push though continues to be the tourism industry. Policy-makers are seeking fresh, creative ways to entice potential visitors to these shores. One such strategy focuses on heritage tourism, with the promotional boost behind the UNESCO World Heritage Inscription of Bridgetown and its Garrison being immeasurable to our tourism industry. Other avenues which are being explored include community tourism, eco-tourism, sports-based tourism, health tourism and faith-based tourism, all of which have the potential to bring in millions in dollars to this island.
