The Caribbean Development Bank, CDB, says economic recovery in the region has commenced following the severe impacts from the covid-19 pandemic, but notes there’s a long way to go to make up the ground lost.
The CDB’s Director of Economics Ian Durant, speaking during a CDB news conference disclosed that overall economies of the CDB members countries grew by an average of three percent.
But he noted that while the tourism dependent economies like Barbados saw an average growth in arrivals of ten percent between January and December last year, this was still 65 percent below the numbers for the same period in 2020.
Mr. Durant pre-averages growth for member countries of just over nine percent this year.
Economic recovery is also expected to accelerate in tourism dependent economies like Barbados provided they are not further covid-19 setbacks and that large capital workers projects get off the ground.
