“And the Lord answered me, and said, Write the vision, and make it plain upon tables, that he may run that readeth it ” – Habakkuk 2:2
Since 2018, and despite challenges like the global pandemic, neighbouring volcanic ash falls, and geopolitical uncertainties leading to potential oil price and exchange rate volatility, the Barbados macro economy has shown remarkable resilience.
The Central Bank of Barbados reported 17 consecutive quarters of sustained growth by the third quarter of 2025.
However, the cost of living continues to rise, and many Barbadians, especially those on low or fixed incomes, are feeling the squeeze. The question then becomes: how do we address these rising costs to ensure that the benefits of economic growth are shared by all?
The solution lies in an optimal mix of good governance, balanced enhanced economic growth, productivity improvements, and cost containment.
Good governance is about more than managing day-to-day affairs; it is about creating a long-term vision and ensuring that all sectors — public, private and labour unions — work in harmony to achieve that vision.
Barbados needs to ramp up its strategic visioning — a process of setting clear rolling long-term goals and aligning policies, resources, investment and innovation towards achieving them.
It’s often said that some Barbadians have a relaxed attitude toward work and education when at home, but when they go abroad, they have two jobs in the day and study at night.
What if we could systematically channel our natural creativity, adaptability and balance into a culture of discipline, innovation and entrepreneurship?
Imagine a Barbados where leaders make tough decisions focused on the long-term good, free from partisan politics. In this context, the private sector would lead the way in tourism, construction, innovative cutting-edge technology, renewable energy, and a vibrant export oriented entrepreneurial ecosystem, complemented by MSME support. The public sector would embrace regulatory and service functions, and the trade unions would promote greater labour productivity for fair compensation.
If Barbados adopts a disciplined social partnership model — where leadership is decisive and focused on the common good — the nation can emerge as a regional leader in innovation and progress and shine as a pillar of prosperity in the Caribbean.
Let us search for, adopt and adapt a benevolent catalyst to trigger a paradigm shift and accelerate the process of equitable development for small island states.
As Maya Angelou said, “Do the best you can until you know better. Then, when you know better, do better.”
basilgf@marketplaceexcellence.com
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