Page 23 - MIN ECEM

A16 LOCAL
Tuesday 31 OcTOber 2017
Opinion Column: Changing Caribbean Economies

By Cdr. Bud Slabbaert what was listed in the sug-
ORANJESTAD - The Carib- gestions: innovation re-
bean is being stuck with search and development
economies that are over- centers. Developing knowl-
proportionally depend- edge industry. Knowledge
ing on revenue from tour- can result in solutions. There
ism and related activities. is always a demand for so-
No, this is not just about lutions, and a willingness to
hurricanes. If it wasn’t the pay for it; thus, a market.
weather, then it was the The intelligence that is bred
Zika virus or a recession. It here locally may attract cli-
is an economy that was di- entele from abroad. It may
rected in an unsafe direc- result in unique entrepre-
tion. neurial activities and well-
paid positions on island or
What was in the past is his- within the region and the
tory and what evolved return of investment could
over the years shall not be remain at home.
judged. There is no time for ‘Human Capital’ falls in the
blame games and this is category of ‘Own Capi-
not around politics or poli- tal’. Own capital funds are
ticians from the past until generally a condition for
today. It is not about one outside financiers and in-
particular territory but rath- vestors. Without sufficient
er about a whole region. responsible own capital
What happened yesterday resources, outside capital
in one location may hap- givers are not ready for in-
pen tomorrow in another, vestment. Instead of driv-
or even happen to all. But, than on a continent. How- ing an industry forward that
as of today, changes are ever, they do exist but it creates employment for
required. may need tougher and room-maids and taxi-driv-
When it’s time for changes, more intelligent efforts to ers, some rethinking needs
and while being aware of bring them in. It could be to be done.
potential risks or dangers, an innovation, research or On a different note. It
then it may be considered development center, horti- may sound like it is off-the-
negligence if one doesn’t culture, aquaculture, fash- wall. Studies have shown
make appropriate real ion and design, property that the same gene that
tangible changes. Bring- rights registration and pro- makes one smarter also
ing matters back to ‘nor- tection, artistry. These few makes one more likely to
mal’ after an unfortunate examples are only provid- go crazy. And you know
event is about the same ing some food for thought. what? Being brainy-smart
as not making changes. More ideas are needed. and crazy-cool can lead
Not being able to make Organizing regional ‘Think- to more revenue and ben-
changes, is not being able in shambles. Using glue to paraphernalia at their avail Tanks’ may help. efits; it is a proven formula
to respond, or ‘ir-response- put the broken pieces to- to attract new industry seg- The Caribbean has a huge in business and artistry. In
able’. gether is neither a solution ments. This is not about amount of capital outside business, the brainy-smart
Some rave about the Ca- nor necessary change. Pro- sun, palm trees and white the region and the return outdo the competition; in
ribbean being the most moting more tourism activ- beaches anymore, but of investment of that capi- artistry, the crazy-cool cre-
significant tourism region. ity to fill up the capacity more about infrastructure, tal stays abroad. It is called ate new styles and trends.
That may be true when gap is like using one hand telecommunication, trans- “Human Capital”. Young Typical is that both outdo
comparing geographical to wave the flag and the portation, etc. people who went abroad their equals by coming up
regions. Considering that other hand to hold up the Now that we have the lec- to study and became too with something more inter-
the main tourism season pants. It is a losing game turing behind us, let’s try overqualified to come esting or innovative. The
lasts approximately half a because it represents an to find solutions. I hate the home and no appropriate region needs to find some-
year, then from an econ- even more undesired in- generic statements that positions that suit their qual- thing that outdoes others.
omy viewpoint, it only is a crease of dependency on sound like coming from an ifications are available for We have a challenge on
half-truth. Things are never tourism. individual with his head in them. our hands. Being able to
what they seem. Yet, the Diversification of the sourc- the clouds, like: “We need Some call them the “Dias- handle a challenge with
complacent species may es of revenue in the Carib- a unique global sustain- pora” and think that that’s true changes creates
think that what seems to be bean economies should able industry development a great name for it. Ac- strength, but in the mean-
is always better than noth- be top priority. More efforts with a secure return of in- cording to the dictionaries, time…., one cannot throw
ing. That is no-good for the should be made and more vestment!” Sure. Just take a that word belongs in the confetti while the revenues
well-being of an economy funding should be avail- look under the clouds and category of expressions for are down. q
and its community. able for international busi- see what the reality is. To displaced persons. Not re-
If tourism revenue is 70-80 ness development that is express it a bit more crude- ally something to be proud *The views, opinions and
percent of an economy, not depending on tourism. ly: “Who looked under the about. Another scary word positions expressed by the
and that tourism season That may mean that for- oxtail, doesn’t like the soup that could be used in con- author do not necessarily
lasts about 6-months, it eign business development anymore!” junction with it is “Braind- reflect the views, opinions
means that the economy is and investment specialists It may be difficult to point rain”, a continuing dynam- or positions of The Aruba
running on half capacity. If with a proven track record out an industry segment ic in the region. Today Newspaper, Carib-
an event hits the tourism in- need to be engaged. They that would be attracted to What might help stopping bean Speed Printers, or any
dustry, the economy will be must get the appropriate settle on an island rather the brain drain is something employee thereof.