When you think of the island of Barbados, what comes to mind?
Well it possibly depends on who you ask.
A tourist or foreigner might describe Barbados as turquoise beaches, white sand and all the rhythms of the quintessential, Caribbean paradise.
For locals ‘Bim’ is their home. Bajans see the more practical side of Barbados. There is a high sense of national pride and prestige, particularly for a small island, yet which has so much to offer the world.
Trends in Barbados’ Economy
Within recent years to due fluctuating global markets, oil prices and foreign exchange rates, the economy had been on a steady decline. According to the Central Bank of Barbados, “Government must build on the current economic progress towards economic recovery”. Several sectors have seen favourable economic recovery, however, the nation’s economy, much like other Caribbean states is largely affected by the economic performance of the United States and United Kingdom economies.
Several programmes and critical structural reforms have stabilised Barbados’ economy for 2019. With all these developments though, what can be said about career opportunities in various sectors within the island?
Job Opportunities in Barbados
1. Agribusiness
Agriculture in Barbados has evolved from a sugar monoculture to a diversified industry that through technology and innovation, offers considerable career opportunities.
Despite agriculture only accounting for 1.6% of GDP, scientific developments through the Caribbean Agricultural and Research Development Institute (CARDI), has led to formulating strategic plans to create research opportunities into new techniques of livestock breeding, produce optimisation and increasing the availability of clean planting material to increase food production.
Opportunities also lie in the research of decreasing viral infections of local crops and innovations to increase shelf life. Technology is transforming agribusiness in Barbados to achieve global production and marketing enterprises which contribute to economic development, food security and sustainable management.
2. Tourism
Described as a ‘Mecca of luxury, charm and elegance’, tourism is Barbados’ main sector and source of foreign revenue. Over 10% of the labour force are employed within tourism. They work in luxury hotels, resorts, restaurants, tour services, sporting arenas and other entertainment complexes.
Tourism in Barbados has enjoyed an economic upswing and seen growth in visitor numbers due to the booming economy in the United States. Growing tourist numbers mean growing opportunities to work in tourism and hospitality in Barbados. The marketing efforts of the Barbados Tourism Marketing Incorporated Company has launched initiatives to market the island to capitalise on increased numbers and create new career possibilities.
Major investments in luxury hotels to increase tourist capacity have been finalised. Increased airline services have also been added where Copa Airlines, Virgin Atlantic and American Airlines have included additional service flights connecting Barbados to Latin America, London, Miami and Montreal.
With these investments, tourism in Barbados has seen a generous recovery and possess greater job opportunities for locals to enter and advance into.
3. Manufacturing
Barbados is ideally suited for niche manufacturing goods. Coupled with world-class infrastructure and convenient air and seaport facilities for easy distribution, manufacturing has expanded beyond primarily sugar and rum production and caters to the wider CARICOM market.
Opportunities exist in the creation and development of medical supplies, fashion, electronics, optical devices, printing & publishing, chemicals, paper products and pharmaceuticals. Within Barbados, manufacturers are eligible to receive lucrative state benefits such as exemptions from import duties for raw materials and production equipment. Other benefits include factory accommodations in industrial parks, duty free access to CARICOM countries, and training grants.
Consequently, the Barbados Manufacturers Association (BMA) which represents local companies provides substantial support for local manufacturers including an annual BMA Trade Exhibition which presents opportunities and showcases companies and their manufactured products to the public.
4. Telecommunications
With high speed internet access and wireless networking across homes and businesses, Barbados has cultivated a competitive telecommunications landscape where Cable & Wireless Barbados, Digicel and Tele Barbados compete for broadband and mobile phone market share.
New opportunities in telecommunications and ICT involve life safety and security. Companies are upgrading and investing in security features and systems in telecoms such as Cloud-based security, home alarm systems and accessing cameras through mobile technology to protect identity, information and surroundings with many smaller, private firms joining this field.
5. International Banking
With 57 licensed offshore banks and 14 licensed financial, trust and merchant banks, financial services and international banking have become an important source of foreign exchange and career possibilities.
Along with commercial banks to supply loans and investment opportunities, offshore banking provides opportunities for young business professionals and expatriates to manage transactions in foreign currencies. These organisations deal exclusively in foreign funds – purchasing foreign bonds which can be used for loans and investments.
6. Entrepreneurship
Like many parts of the globe, entrepreneurship is set to introduce a new wave of possibilities and career opportunities in the island. With organisations such as the Barbados Entrepreneurship Foundation, entrepreneurs are able to unlock possibilities as well as harness energies and resources to develop their businesses. Today, entrepreneurial opportunities include export/distribution, technology, fashion, creative arts, retail and medical services to name a few.
Notable examples include energy investor Ralph ‘Bizzy’ Williams and James Husbands, notable for providing solar water heating services. The most notable entrepreneur from Barbados, is undoubtedly acclaimed and multi-awarded singer Robyn Fenty. Known internationally as Rihanna, the Fenty Beauty brand has become a global phenomenon and exemplifies the marketing expertise, sheer talent and entrepreneurial innovation that can be nurtured within Barbados.
Professional Skills Needed for Barbados in 2019
Top skills for the 21st century Bajan market include:
- Creativity –Creativity can be effectively to advance customer experiences in banking or tourism, create unique value products as an entrepreneur, attain a competitive edge in telecommunications or source cheaper methods of production as a manufacturer.
- People Management – Like all resources, human capital has to be managed to derive the best skills, talent and motivation from them.
- Business Analysis –International banking, telecommunications and ICT are heavily reliant on figures to identify what investments to make, prices to set and best strategic decisions for the company? Manufacturing and entrepreneurship require business analysis to manage cash flows for raw materials, identify break even points and profit margins.
- Digital Skills – Given that the Barbados Economic Recovery and Transformation Programme trains locals in digital skills, the government has recognised its importance in driving the economy forward. Digital marketing, cloud computing and social media management are just a few of the competencies needed in Barbados.
- Customer Care – Everything is about customer care. From tourism to manufacturing to export markets, serving financial customers or building your client base as an entrepreneur, customer service is an essential skill that acts to fundamentally retain customers.
- Selling and Persuasion – How does a sector acquire customers in the first place? Through selling and marketing, organisations in Barbados and globally perpetually need seasoned salespeople, marketers, copywriters and media professional to promote products or services and establish a market.
