Barbados' Tourism Reliance and IMF Ties Spark Economic Concerns: Expert Insights
September 9, 2024
Barbados faces concerns over tourism dependence and IMF ties. Experts question sustainability of economic model, warning of risks in expanding tourism sector.
Concerns are being raised about Barbados’ over-reliance on tourism and the longterm implications of its relationship with the International Monetary Fund (IMF).
Professor Don Marshall, head of the Sir Arthur Lewis Institute of Economic Studies (SALISES), and economist Professor Emeritus Michael Howard have voiced their scepticism about the sustainability of the nation’s current economic model.
“Barbados has become a mature tourism destination, and I don’t know how much more we can develop,” Howard stated.
He warned that while the government is seeking to build more hotels along the south and west coasts, expanding the tourism sector could have risks. (CLM)
