Interview with Developer Kevin Harrison, Barbados
How healthy is Barbados’ economy today? Barbados’ economy continues to be a pillar in the Caribbean region. Despite its apparent lack of agility in evolving at a pace necessary to keep ahead of the effects of geopolitical and macroeconomic tremors, I believe the country at its core is a stable, safe and sophisticated nation in the Latin America and Caribbean region. How can Barbados capitalise on its economic strengths? Barbados is in a prime position to leverage its highly-skilled workforce in order to fashion an economy focused more on research, industry, and in particular, financial services. Our subsidised healthcare and educational models have produced a workforce that is amongst the most literate and best trained in the world. The significant challenge ahead lies in steering the economy away from its excessive dependence on tourism, and by extension, real estate development associated with tourism. Moving forwards, Barbados should focus on an economic model that leans more towards financial services, research and development - facilitated by the country’s highly educated human resources – and by extension, more sustainable industries as tourism is based on discretionary spending. With a myriad of funding options available globally, and with the perception that Barbados is a destination for the wealthy, our team believes that with targeted marketing, Barbados’ economy can establish synergies with partners worldwide to sustainably fuel the country’s growth. The real estate market has seen its most significant correction in recent times. The market appears to have stabilised and is now beginning to attract serious foreign direct investment again. I believe that as long as the economy can convey to the world that it is on a sustainable growth path, confidence, and by extension investment in the real estate market, will increase. At that point, the financial services sector will be ready to capitalise on the renewed interest in this island nation. What is your company Kevin Harrison Group’s approach to sustainable development? I believe that that a holistic approach which takes account of the life cycle of projects should be at the core of any development. As such, any kind of development, be it construction of social housing, dams, or even projects in the petroleum industry, should be appropriately conceptualised and managed with the intention to re-establish long term environmental balance. As living beings, we are all a part of a massive ecosystem. We have the responsibility to ensure that the environment is healthy; not only for our own existence but for those who come after. Source: The Report Company
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