VIENNA, Jul 16 (IPS) – Prior to the COVID-19 pandemic, the Eastern Caribbean island nation, famed for its beautiful landscapes, pristine white-sand beaches and temperate climate, attracted around a million tourists each year.
But with travel restrictions across the globe, tourism all but dried up, and the country’s economy has seen a dramatic downturn. It is estimated that, by the end of 2020, GDP had contracted by 18%, primarily due to a 71% decline in long-stay arrivals over the year.
In these times of instability, the Barbadian government is accelerating its efforts to diversify the economy and rebuild a more sustainable and resilient one. Apart from renewed activity in traditional sectors, the country aims to tap into the new value chains of the emerging…
