Barbados is embracing the challenge of boosting population growth as a vital step towards securing its economic future and attracting new investments. Senator Chad Blackman, Minister of Economic Affairs, highlighted the country’s potential during the National Transfer Accounts Capacity Building Workshop, hosted by the Government of Barbados, the United Nations Population Fund (UNFPA), and the United Nations Joint SDG Fund. He emphasized that while Barbados faces population-related challenges, the nation has ample opportunities to turn these into drivers of economic growth.
Citing findings from the 2019 Barbados Population Situational Analysis Report and the 2021 Population and Housing Census Report, Senator Blackman outlined a clear roadmap for ensuring sustainable population growth. Although the reports project a peak population of 290,000 by 2030, followed by a gradual decline, these insights allow policymakers to make informed decisions and create proactive strategies to reverse the trend.
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Senator Blackman explained that the current population of 269,090, down from 277,821 in 2010, presents an opportunity to focus on areas of growth and development. By addressing population trends head-on, Barbados can ensure its long-term prosperity.
Rather than viewing population decline as a limitation, the government is focused on how population growth can enhance Barbados’ ability to:
- Boost Revenue: A growing population will lead to increased economic activity, higher tax revenues, and more robust public services.
- Advance National Priorities: By increasing its population, Barbados will strengthen its capacity to pursue key developmental goals, including infrastructure projects and social initiatives.
- Improve Social Care: With a thriving population, the government will be better positioned to meet the evolving social care and security needs of its citizens.
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Senator Blackman emphasized that as Barbados grows its population, it will be in a stronger position to attract global investors, enhancing the island’s appeal as a competitive and dynamic economy.
Barbados is well-prepared to compete on the global stage, with Senator Blackman confident that the country’s unique strengths can be maximized. He called on Barbadians to harness their creativity and innovation, transforming population challenges into opportunities for growth. By cultivating a larger and more dynamic workforce, Barbados can continue to thrive in a rapidly evolving global market.
Senator Blackman reiterated that population size is an important factor in the nation’s success. By focusing on strategies that encourage growth, Barbados can ensure its continued advancement and bolster its reputation as a hub for investment.
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The workshop, which runs until September 27, is a critical component of the country’s forward-thinking approach to demographic change. It aims to strengthen Barbados’ ability to understand and leverage demographic data, enabling policymakers to develop population strategies that align with the country’s long-term goals.
De-Jane Gibbons, the UNFPA’s liaison officer for Barbados and the OECS, expressed optimism about the workshop’s potential to drive positive outcomes. She highlighted the importance of data-driven, gender-sensitive policies in shaping a future where all individuals can thrive. This collaborative approach will support Barbados in developing strategies that enhance both economic growth and social well-being.
By taking proactive steps to grow its population, Barbados is positioning itself for a future of increased prosperity and international appeal. Through strategic planning and global partnerships, the island nation is on track to achieve sustainable development and attract investment opportunities that will benefit its citizens for generations to come.
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