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Review of Barbados’ Economy for Q1’2024


Despite challenges, Barbados’ economy grew in early 2024, further strengthening key economic aggregates like the current account balance and debt-to-GDP ratio. Amidst challenges such as elevated foreign interest rates, geopolitical tensions, higher freight costs, and adverse local weather conditions, the economy sustained its growth trajectory. Real GDP increased by 4.1 percent during the first quarter of 2024, fuelled by visitor arrivals that surpassed the industry’s 2019 peak along with broad-based growth across various sectors. This economic expansion contributed to achieving an external current account surplus and a further strengthening of financial sector’s resilience. Moreover, it helped to attain the 2023/24 fiscal year primary surplus target and further reduced the debt-to-GDP ratio – read more.

– Review of Barbados Economy – January-March 2024. (Source: Central Bank)
 
– Governors Presentation

174 responses to “Review of Barbados’ Economy for Q1’2024”

  1. David Avatar
    David

    @ac

    You missed the point. What is the purpose of an educated public with its watchdog institutions whose goal is to hold public officials accountable? The media, the political opposition, NGOs, members of local academia, even BU.

  2. John2 Avatar
    John2

    Why all off of a sudden growth in gdp is tied to rate of growth in tourist arrivals ????

    Was there a problem when ( numbers not exact) tourism arrival was up by 60% and gdpwas 10% why no questions back them

    I have absolutely no problem with accepting the arrivals numbers as I know there are more than one way to count and cross check the numbers plus there are supporters of both parties in the reporting agencies .

    Now if u are telling me thre is currently no way to capture the contributions of the informal sector then how do u expect me to === put a numeric contribution for them in my report gdp report?

    Now if u r telling me that a 14% rise in arrivals should be show a 14 %rise or close to in in gdp. Then u tell me the 4%rise in gdp is too low +the informal contribution is not captured them I can conclude the our gdp is greater than was reported because the approx 10 % from the informal sector was not captured

    Just saying – because I know better

    Yes so until u can show that the arrivals numbers are being over counted the keep ur @$$ shut

  3. David Avatar
    David

    Fortunately John A doesn’t have to take your advice to shut up. In this forum we are encouraged to question things. It is no secret data collection, analytics and reporting has been criticized by external agencies and locals alike. We do not have to accept what politicians and their surrogates say. Before the global financial crisis of 2007 didn’t we accept the rh ratings of credit rating agencies?

  4. angela cox Avatar
    angela cox

    Senator Watson was on point yesterday holding govt feet to the fire
    Her questioning of govt was another eye opener when govt goes on a smoke and mirror high to fool the people
    Questions concerns about other World Cup benefits had govt Minister scratching their heads for answers

  5. Be patient. Avatar
    Be patient.

    @J2
    Be patient.
    With the cybercrime bill you claim that he is irritant, harassed you, caused you emotional distress or even intimidated you with his numbers.
    Just wait

  6. Way too many issues Avatar
    Way too many issues

    It is a strange strategy. Moving issues off the table by introducing newer issues.

    Is the strategy to reduce comments for an issue by giving the blogger more items to comment on? A few have been able to stick to specific issues, but most of us are like a pack of hounds after a warren (lots of rabbit)

    What will be the issue of next week? What will move this issue off of the center of the table? Will it be a new issue or an old issue that has been updated with additional information?

    They have turned us into mouth giants. ‘Yu want sumting to talk bout, then tek this’

  7. John2 Avatar
    John2

    I honestly hope for ur sake that u are not calling credit rating statics or that it is A or AC that made that comment.

    Will reply to rest of that comment tomorrow

  8. David Avatar
    David

    Inflation concerns linger despite strong economic growth

    written by Emmanuel Joseph Updated by Barbados Today 04/05/2024 7 min read A+A-

    https://barbadostoday.bb/wp-content/uploads/2023/10/9oct23-TRISHA-TANNIS.png
    BPSA Chairman Trisha Tannis.

    Two leading experts have raised an alarm that “stubbornly high” inflation could further eat into Barbadians’ spending power.

    Despite an “unprecedented” run of first-quarter economic growth reported by the Central Bank of Barbados, noted UWI economist Professor Justin Robinson and Chairman of the Barbados Private Sector Association (BPSA) Trisha Tannis drew attention to the issue as they assessed the bank’s report of 4.1 per cent growth – the 12th consecutive quarter of expansion – thanks to an “extraordinary performance” of 14.8 per cent increase in visitor arrivals in January to March this year.

    Professor Robinson, Pro Vice-Chancellor and principal of the Five Islands Campus, also expressed concern that “public finances are being negatively impacted by rising debt service”.

    Though impressed with the government’s management of public finances, he said he is troubled about their vulnerability along with the implications of the current inflationary pressures on citizens.

    “The economy continues to be buffeted by declining but stubbornly high inflation which may be eroding the spending power of a broad cross-section of society, and rising foreign debt service costs which is impacting negatively on the public finances,” he told Barbados TODAY.

    “The inflation rate was reported at 4.8 per cent, down from 5.9 per cent in March 2023, which is significantly higher than the 2.1 per cent reported for March 2022 and the -0.1 per cent reported for March 2021. The inflation rate of 4.8 per cent is also well above the average rate of 3.5 per cent for the last ten years.”

    The noted economist contended that the public forms its judgement on the economy mainly on personal experience, unemployment rate, salaries and benefits and prices in the shops.

    “The stubbornly high inflation rate may go some way to explaining the apparent disconnect between the strong macroeconomic performance being reported and the seemingly sour mood among sections of the public,” said Professor Robinson. “Stubbornly high inflation, static salaries and the possible creation of lower income jobs may go some way to explaining the seeming disconnect.”

    For Tannis, although inflation has declined slightly, it continues to remain too high for too long.

    “We don’t see that is going to come down too much faster, although it’s expected to come down somewhat. I don’t know if in the next quarter or so, but the government seems confident that over time it will mobilise,” she told Barbados TODAY.

    The private sector chair insisted that as long as geopolitical disruptions and hostilities continue, such as the Ukraine-Russia war, these matters will have a domino effect on the cost of the supply of goods and services and value chain.

    “So, we do expect it to remain elevated. Of course, we have the local impacts as well…. We had some disturbance in our weather patterns which caused some of the inflationary pressure on our ground provisions and vegetables in the agricultural sector. So, we had it coming and going,” said Tannis.

    Robinson also highlighted concerns about rising debt service costs, with interest payments accounting for one-fifth of government revenues in January-March, up from 18.1 per cent in 2023 and 16.1 per cent in 2022. However, he commended the government’s management of public finances, showing “remarkable discipline and skill” in consistently meeting its targets.

    The debt-to-GDP ratio has improved from 131.3 per cent in 2022 to 119.6 per cent in March 2023 and 114.3 per cent in March 2024.

    “The major challenge to the public finances is the rising level of debt service with interest payments reported as accounting for 20 per cent of government revenues over the January to March 2024 period, compared to 18.1 per cent for the 2023 period, 16.1 per cent for the 2022 period and 9.3 per cent for … 2021,” the professor of finance added.

    https://barbadostoday.bb/wp-content/uploads/2023/12/28dec23-Professor-Justin-Robinson-e1703827347294-768×473.jpg

    UWI economist Professor Justin Robinson.(FP)

    He traced the trends in first-quarter growth over the past two years of between 5.0 per cent and 13.2 per cent in analysing the significance of this year’s 4.1 per cent.

    “The 4.1 per cent growth reported is, therefore, a solid rather than spectacular achievement and suggests that first-quarter growth is reverting to historical levels after the extreme COVID-19 shock which saw first-quarter Real GDP growth of negative 18.9 per cent,” Professor Robinson said. “I am of the view that the current administration deserves the highest credit for the management of the public finances and it has shown remarkable discipline and skill in consistently meeting its public finance targets.”

    While pleased with the overall performance of the economy and expecting more growth for the rest of this year, Tannis still had some other concerns.

    She said the corporate community remained “obviously concerned that we are still very much dependent on one industry, and that the pace of diversification is not yet where everybody would want it to be in terms of increasing our resilience to external shocks”.

    “We are actually very thankful where we are with the economy at the moment. It’s continuing to kick to redound to strong growth,” the business leader said.

    Tannis said the private sector is advocating, though, for a tourism year-round product, notwithstanding the bright outlook for the rest of the year.

    “We do need for this to be an annual thing, where we have a consistent tourism product throughout the year for 12 months, and not for six or eight,” she contended.

    Tannis also expressed support for the call from Central Bank Governor Dr Kevin Greenidge for billion-dollar investments from the private sector in the economy to help drive growth: “We do know the government has put a lot of incentives in place for various industries; and the atmosphere and conditions, we think, are ripe for us to become very interested in investing in the economy again.”

    emmanueljoseph@barbadostoday.bb

    Source: BT

  9. tourism bump Avatar
    tourism bump

    The tourism bump to the economy will have little benefit to the public and was not due to any Government action.

    Down the line, tax revenue will increase if the trend continues and there may be some benefits to the public if Government invests this money in public projects.

  10. NorthernObserver Avatar
    NorthernObserver

    @ac
    I love it when you make commentary on financial matters
    “Not one but now twice has this lie been exposed whereby the interest rate has been exposed as variable”
    I will bet 95% of government borrowings from multi/bi lateral agencies are variable. It has always been so. Even the loan your team secured from Credit Suisse varied based on credit ratings?
    And yes, the IMF rate was low (even with the surcharges) versus many other choices.
    Now, did they leave enough elbow room to handle interest rate increases, the GovCB says so. I am less confident but we shall see.
    It is a hellava lot better, than taking public employees NIS contributions to the tune of $400,000,000 like your favoured crew did.
    Then again, both administrations fail the transparency and accountability test.
    That’s why they are the BDLP.

  11. angela cox Avatar
    angela cox

    @No
    A lie is a lie no matter how its is twisted
    Govt told the people the people believed then the truth says different
    Many believed that the one percent interest charged on the debt was a fixed rate
    Did govt explain how this rate was variable NO then why not
    What was the fear and what was govt hiding
    So the bottom line being that govt tried hiding the truth which was a lie
    Then the surcharges and fees which will cost the people of this country millions as long as Barbados borrows from the IMF
    Why wasn’t those surcharges given light of day to the people
    Where was the transparency that govt held high as truth and a guide for good goverance
    A govt constantly exposed as being manipulative telling the people only what the people needs to hear then exposed under the cover of darkness

  12. David Avatar
    David

    The Nation newspaper has a big spread about declining population. With this sensitisation of the masses we know what will be coming next.

    Population down by 8 731 in one year

    The issue of declining birth rates in Barbados has been engaging the attention of many people.

    According to the 2021 Population and Housing Census conducted by the Barbados Statistical Service, the population has declined by 8 731 between the 2020 census and the one in 2021.

    Barbados’ population at the time of the 2021 census was 269 090 (130 037 males and 139 053 females), compared with the 2010 census population of 277 821 (133 018 males and 144 803 females).

    For the 2000 census, the population was 268 792 (129 241 males and 139 551 females) and it was 260 491 (124 571 males and 135 920 females) when the 1990 census population took place.

    Today, the Sunday Sun took a trip around the world to look at the approaches taken by countries like France, Sweden, Jamaica and Singapore regarding this issue.

    Source: Nation

  13. David Avatar
    David

    The challenges of SIDs and less developed countries navigating in shark infested waters.

    Grey list blow still hurting Barbados, says expert

    By Tony Best

    Although it may not have been Barbados’ fault, the Caribbean country seems to have suffered a serious blow to its efforts to get off an international anti-money laundering list.

    And it happened, say analysts, just when Barbados and a number of other offshore financial centres – United Arab Emirates (UAE), Panama, Gibraltar and Uganda – seemed on the cusp of being removed from the global list reserved for countries with suspected “strategic deficiencies” in their anti-money laundering systems. That grey list, as it is called, was prepared by the Financial Action Task Force (FATF), the acknowledged global watchdog over the movement of money around the world.

    New regulation

    Two months ago, the European Commission published a proposed new regulation that would have led to five countries, including Barbados and the UAE being taken off the FATF list. But the European Parliament stepped in and approved a resolution that rejected the Commission’s proposal to remove the UAE from the list due to allegations of weaknesses in the Arab nation’s anti-money laundering system.

    But by blocking the UAE’s removal, the other countries on the list were left paralysed, unable to be removed.

    “It means Barbados has to suffer because it is still on the (grey) list. It’s all because of a decision with respect to the UAE,” explained Bruce Zagaris, an international tax law expert who has taught at the University of the West Indies, Cave Hill campus. “This matter of the UAE has nothing to do with Barbados. It shows that while the EU purports to follow good governance and proper due process it uses to designate or remove countries from the (global) anti-money laundering lists, the process remains very flawed.”

    Issues

    Zagaris explained that the European parliament’s move affected Barbados because rules governing the list meant that countries could only be taken off together, not singly. “Barbados must now wait until the next time there is a new delegated regulation by the European Commission,” he pointed out. One of the problems in the past has been that countries on the list can take all the actions required to get but then they must wait for about nine months for a decision to get off. Even though a country like Barbados has done everything right, a decision cannot be taken promptly until it is time again.”

    Suffer the stigma

    The upshot, added Zagaris, “Barbados must continue to suffer the stigma” that comes from being on the list.

    “It is a flawed and unfortunate process,” the tax expert added. “The best solution is for the European Union to adopt a more efficient process so that they can adjudicate the countries eligible to come off list. The countries that have taken the required decisions should be able to come off the list without having to wait until there was a unanimous decision on all countries.

    “Such an approach would be more efficient and more democratic,” he added. “That is because each country would be able to get off the list if it did the right thing and should not have to wait as they have had to do even before the decision of the UAE was made and came into play.

    As Zagaris saw it, what happened recently, “reflects the indifference of the European Union to the adverse impact of its decision. This cavalier approach is unfortunate and undesirable. It is an abuse of the power of the EU.”

    Reduce economic pain

    He believes that apart from complaining to the EU or raising the issue in the World Trade Organisation, there was little Barbados could do to get itself off the list and reduce the economic pain and the legal fallout.

    In a statement, a spokesperson for the Commission, said “we regret the rejection by the European Parliament of the delegated regulation amending the EU list of high-risk countries with deficiencies in their anti-money laundering/counter terrorism regimes. In line with EU legislation, the FATF list is the baseline” of the EU list.”

    By being forced to remain on the list, Zagaris explained, Barbadians who want to do international business whether it is paying for their child’s college education or buying goods and services, it makes it more difficult to conduct their business.

    “It is sad and is an abuse of power,” was the way he put it. “The EU should accept the Financial Action Task Force’s list. A real problem is the proliferation of lists.”

    ‘Barbados must now wait until the next time there is a new delegated regulation by the European Commission’


    Source: Nation

  14. angela cox Avatar
    angela cox

    Govt keeps pushing that message but refuse to.understand the many different approaches govt has pushed forward for correction
    E.g land space that requires housing and a necessity for food production if govt pursue a policy of adding thousands more occupants on this166sqmiles
    Countries like France and America have the where withal to accommodate thousand but also have policies and laws in place which gives directive as to preference
    Govt needs to take a hard look at what govt propose as remedy
    Sometimes when nature steps in to make corrections it is with good reasons
    The country has major problems in providing for few can’t see how it can provide for thousands more

  15. David Avatar
    David

    @ac

    you are looking at one side of the problem. How do we increase our tax base to derive required revenue to pay for all the social services we complain about daily. How do we infuse the population with skillsets to sustain competitiveness in the global market place.

  16. angela cox Avatar
    angela cox

    @David we become more productive
    Barbadians are an educated people the only way out and to moving forward is to use our natural resources our people to expand and build a sustainable labour market from which the roots of progress can flourish and provide
    China did not look without but within its people to sustain their flourishing economy
    Can’t just take for granted that having thousands more would be sufficient and enough to improve the economy
    Tax revenue can be generated when policies are put in place to create jobs and produce viable and sustainable growth for a country
    One would have thought that after Covid govt might have seen a sustainable future for Barbados built on production
    Instead govt continue to travel the one and unpredictable path of tourism which falters and fails to produce at times

  17. The OG Avatar
    The OG

    Allow me to add a short note to the discussion of the dwindling population.

    Please bear in mind that when it is difficult to survive in a country, there is an increase in migration. As many of these migrants are still of child bearing age, this may be reflected in a lowering of the birth rate.

  18. TLSN Avatar
    TLSN

    I agree with your above comments The OG.

    Rest assure that such conditions will always create a vacuum. Nature has a way of balancing out these issues. The West Coast will probably be the driver for Barbados future population growth.

    https://www.savills.com/find-a-property/international/americas-and-caribbean/the-caribbean/barbados.aspx

  19. angela cox Avatar
    angela cox

    OG

    True but the question remains how does govt fill that space sufficient and enough to generate revenue and build an economy
    Bearing in mind that when migration occurs govt also loses some financial benefits that can be derived out the individual /s be it male or female

  20. TLSN Avatar
    TLSN

    @ David,
    I believe it was one of the many John’s on BU who spoke about the declining expenditure of tourists on the island.

    Here is an interesting thesis dated from 2015.

    https://www.antilleseconomics.com/wp-content/uploads/2015/04/The-New-British-Visitor-to-Barbados.pdf

  21. David Avatar
    David

    @ac

    If we listen to the experts yours is an emotional argument. Our birth rate is flat or declining. Our population is aging. Even your man Ronald Jones gave the thumbs up to more breeding from our females, a simplistic solution anyway.

  22. angela cox Avatar
    angela cox

    @ David
    My comments speaks of solutions
    Any emotions lies in the fact that govt is trying to look for a solution that can bring more social problems than correct the growing need for economic problems
    Placing thousands of people from different cultures in a country without a economic
    stronghold would be a new problem unto itself and a problem which can trigger hatred and violence between the races as the natives see these new immigrants as threat to their well being
    Govt needs to implement a plan or policy which does not open doors for division

  23. Bush Tea Avatar
    Bush Tea

    Boss
    If we plant corn …what else did we expect to reap?… than corn?

    Our whole eddykashun thrust is focused on providing opportunities for our best and brightest youths to end upon some North American or British university

    – if not on an athletic scholarship, then on a Barbados exhibition or scholarship – or by the parents mortgaging their house so that Skakira and Kimnisha can ‘study in Canada’ like their other friends … and the parents can keep up with the Jones next door.
    That leaves us with what we can see in parliament…. for example.

    How many of the bright ones will come back to a place that is being run like how the Steal Houses, the Drax idiocy, the Savvy mess, the QEH quagmire, the housing joke etc has been mismanaged?
    …when they can get offers to work with sane operations??!! – where thieving is actually illegal, incompetence is punished, and idiocy is laughed out of the place?

    Steupsss
    …except, instead of planting ‘corn’ we are planting shiite –
    It is only OBVIOUS that such populations will eventually DIE out….

    Mother Nature, like Karma, don’t make sport with brass bowls.

  24. David Avatar
    David

    @Bush Tea

    You coming in hot this Sunday morn.

  25. Backooful Jack Avatar
    Backooful Jack

    @The OG You can’t just oull theoriea from out of the sky. Apply some intellectual rigor and do some basic research.
    @David I will assign some home work to blog.
    What is Barbados’ current net migration rate?
    What trend or direction is it currently heading in?

    This information should be easy to find on the Internet.

  26. David Avatar
    David

    @Backooful Jack

    Chart and table of the Barbados net migration rate from 1950 to 2024. United Nations projections are also included through the year 2100.

    The current net migration rate for Barbados in 2024 is -0.276 per 1000 population, a 0% increase from 2023.
    The net migration rate for Barbados in 2023 was -0.276 per 1000 population, a 0% increase from 2022.
    The net migration rate for Barbados in 2022 was -0.276 per 1000 population, a 0% increase from 2021.
    The net migration rate for Barbados in 2021 was -0.276 per 1000 population, a 0.36% decline from 2020.

    https://www.macrotrends.net/global-metrics/countries/BRB/barbados/net-migration#:~:text=The%20current%20net%20migration%20rate,a%200%25%20increase%20from%202021.

  27. Backooful Jack Avatar
    Backooful Jack

    @David, Thank you!
    Barbados’ current net migration rate is slighly below zero at -0.28 which puts Barbados in the middle of the pack globally (many countries are missing from the table on the left). Meaning that there are slighly more people migrating to than emigrating from. Back in the 70s and 80s it was between -6 and -4 percent. So the percebtage of working age Barbadians leaving has actually fallen over the years.
    Therefore, the main issue is a declining internal birth rate not emmigration.

  28. John A Avatar
    John A

    @ David

    Ignore the braying and background noise, as none have been able to bring the relevant comparison numbers to the blog hence I repeat.

    What was the revnue from formal tourism collected by the central bank of Barbados in the first quarter of 2023 as compared to 2024?

    Was the 14% increase in tourism arrivals reflected in the revenue collected by the central bank of Barbados for the first quarter of 2024?

    Cant make it no simpler for the loyalist than this. And dont let no party loyal come and say he knows where the figure is. David is it possible for you to obtain the direct revenue figure collected for the first quarter of 2023 so we can compare it to the figure posted in the governor’s article for 2024 in Barbados Today a few days back? In other words lets compare oranges to oranges .

  29. coxangela Avatar
    coxangela

    Govt rather shine in the good news of 4.1 percent
    Rather than trigger a deluge of doubt .comparing tourist spend
    The last figures release was in 2021
    There is no doubt that within a three year span the govt was able to keep.the noise level low about tourist spend to govt benefit

  30. TLSN Avatar
    TLSN

    We talk about building world class stadiums for our athletes, well take a look at what is happening in the Bahamas in near real time.

    https://m.youtube.com/watch?time_continue=33&v=3rNLCQRqDAM&embeds_referring_euri=https%3A%2F%2Fduckduckgo.com%2F&feature=emb_logo

  31. coxangela Avatar
    coxangela

    Here is a link which shows Barbados tourist numbers 2023 and 24
    There is also a link which says the average tourist spend is .0396 dollars

    https://tourismanalytics.com/caribbean-statistics.html

  32. David Avatar
    David

    @John A

    Only units so far.

    Those dismissing your numbers and assumptions should be able to post a link.

    “Barbados received 74,010 stopovers in February 2024, 13.9% more than the 64,995 stopovers received in February 2023.
    According to the Barbados Statistical Service, Barbados saw a 13.9% increase in stopover visitor arrivals in February 2024, growing from the 64,995 stopover arrivals seen in February 2023 to 74,010 stopover arrivals received in February 2024.
    Barbados also received 128,410 cruise visitors in February 2024, 12.4% more than the 114,243 received in February 2023.
    It should be noted that February 2024 had one more day than February 2023, a 3.6% increase in days.
    Barbados received 32,448 stopover arrivals from the United Kingdom in February 2024, 1.1% fewer than the 32,799 received from the UK in February 2023, and 17,588 stopovers from the USA, up 4.7% from the 11,975 received in February 2023. The island also received 11,805 stopover arrivals from Canada in February 2024, up 22.1% compared to the 9,621 received in February 2023.
    Through the first two months of 2024, Barbados saw stopover arrivals increase by 8.9% from 135,585 in the first two months of 2023 to 147,703 in the first two months of 2024.
    The number of stopovers from the U.K. decreased by 2.0% falling from 66,432 stopovers in the first two months of 2023 to 65,125 in the same two months of 2024 while the number of stopover visitors from the USA increased by 29.9%, from 25,683 in the first two months of 2023 to 33,368 stopovers in the same two months of 2024.
    Please note these stopover numbers are preliminary and subject to change.
    Barbados also received 255,972 cruise visitors in the first two months of 2023, up 8.2% from the 236,646 cruise visitors received in the same the months of 2023.

    https://tourismanalytics.com/latestnews.html”

  33. John A Avatar
    John A

    Well when we have spend figures we can then see what the headcount increase means to the bank balance.

    Increased headcount is the figure the politicians like to talk about. When it comes to revenue to the central bank that sits on the back burner. The truth is we need to see the spend for the first quarter of 2023 against 2024 to see what gain we made. If we end up with a growth in revenue of only 4 or 5 percent then we have to ask why so low when arrivals are up 14%? What are we not doing to benefit more from increased arrivals, or are airport arrivals going on a sea cruise from the harbour counted twice? In other words they arrive at the airport they then leave from the sea port, after the cruise returns to Bridgetown then they leave by Air. So they actaully enter Barbados twice as a result of 1 trip. One by air and one by sea.

    Just asking a question thats all.

  34. The OG Avatar
    The OG

    1/2
    Sometimes it is necessary to lend a helping hand to those who are challenged.

    Note that I suggested that immigration of folks of child bearing potential should be considered.

    Here is an example, I will use small number so as not to give Backooful Jack heavy lifting. I will make absurd example so as to make it easier.

    1. Suppose we had 10 people leaving in 2021 and 5 were of child bearing potential.
    2. Suppose we had 10 people leave in 2022 and eight were of childbearing potential.

    Overall we have the same number leaving but a greater number of child bearing potential left in 2022. One cannot just look at the overall number.

    But what is net migration rate.

  35. The OG Avatar
    The OG

    2/2
    The definition below rubbishes the statistics produced by both you and the blogmaster. I will restrain myself, but in case the point eludes both of you… Net migration is made up of those going and those coming. When a Bajan leaves a foreigner MAY be taking his place.

    Definition
    The net migration rate is the difference between the number of immigrants (people coming into an area) and the number of emigrants (people leaving an area) divided by the population.

    100 lines of punishment for each of you. Run that nonsense elsewhere.

  36. The OG Avatar
    The OG

    My original post was about Bajans of child bearing potential leaving which would naturally cause a decline in birth rate if other factors do not come into play.

    The net migration rate is actually a red herring thrown in yo score a cheap point. Needles to say, the point was not scored.

  37. David Avatar
    David

    @John A

    What is wrong in thinking tourists are spending less? Some years ago a government official from Singapore visited Barbados and indicated to locals that using arrivals number as a kpi is not a true measure of performance.

    Even if spend number for Q1’23 is unavailable let us agree that throwing around arrival numbers is misleading the public.

  38. The OG Avatar
    The OG

    Given the definition of net migration rate, to those with a proper understanding, the statistics should be alarming instead of reassuring.

    Given that the statistics is very close to zero, it means that for every Barbadian that leaves a foreigner is entering (cue 000 (my hero) to accuse me of racism/xenophobia.

    Depending on how the subtraction is performed, it is quite possible that we may have a few more entering than leaving. The march to 70,000 may have already started.
    —x—
    Let me add a few notes here just to scare you…
    If these newcomers are relatively rich and buying beach property when they become naturalized citizens in a few years we may have Bajans denying Bajans beach access.

    If crooked politicians do not speak up when rich non-nationals pull their beach closing stunt, what do you think will happen when the new rich national pull the same stunt.

    A word of advice, if you want to preserve access to sea water, then get a bucket and store some from today.

  39. John A Avatar
    John A

    @ David

    The arrival numbers are good politics.

    The problem is with them as a measure of growth is that they have in the numbers discounts and persons travelling on points etc. So as a result you can have a full house but not a full register. I remember when the super ships started sailing a few years ago which held thousands, the expression i heard from an agent was ” the boss and the butler on the same cruise.” Meaning some wait 2 days before sailing date and buy the trip for $299 on a credit card.

    Its no different to a store. You can have a store full of lookers and yet an empty register at the end of the day. There is no entry fee at the door so people can come in free.

    Remember once a taxi driver telling me ” you realise boss most the people going back to the ship dont have a shopping bag in dem hand.” Every since then i watch for them going back walking down Princess Alice and he was right. Hands swimging empty as ass.

  40. David Avatar
    David

    @John A

    Look at the positive, full loads mean less airline subsidies.

  41. John2 Avatar
    John2

    Now the arrivals number are not that important. Who stated the fuss about arrivals numbers ???????

    David the tourism arrival are in the printed report. I cannot get the copied so I paste them on the blog. This is two day now since i told A where he can find both sets of numbers.

  42. David Avatar
    David

    https://barbadosunderground.net/wp-content/uploads/2024/05/BB-Economy-854×351.png

  43. David Avatar
    David

    what report? which page? John A is asking for spend not arrivals.

  44. John2 Avatar
    John2

    https://www.centralbank.org.bb/viewPDF/documents/2024-04-30-13-22-59-Review-of-Barbados-Economy—January-March-2024.pdf

  45. David Avatar
    David

    Which page number to find tourism spend for Q1’23?

  46. John2 Avatar
    John2

    Table 1. And appendix 2

  47. David Avatar
    David

    Those are annualised numbers not so?

  48. John2 Avatar
    John2

    Read carefully. If u want ate average spend u will have to do u own calculations

  49. John2 Avatar
    John2

    When I got off a cuise in Barbados I did not go through immigration only the people that were staying in the island were required to. When u come in at airport and when u depart ur passport / ticket is scanned or piec with ur info is kept. Server some place and cross checking will eliminate any double counting

  50. John A Avatar
    John A

    @ David

    No where in the report was the figure for january to march for 2023 compared to 2024

    Also contrary to what is being said our 2023 SPEND was about 10% BELOW that of 2019 still. Thats spend not arrivals.

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