August 31, 2021
Projections from the Inter-American Development Bank has the Caribbean rebounding from the COVID-19 pandemic by no earlier than 2022 and some as late as 2026. Bad news for people who think that they are going back to 2019 numbers this year or even in 2022.
These projections are based on what was left behind in 2019, which is ok. But we have to look forward because it is becoming a little clear that what was left in 2019 isn’t coming back right away, so we can’t allow people to die in the meantime. In addition, what was left may not be what people want in 2022 or 2026. There are too much assumptions to factor in for a “rebound” by 2026 at least.
So, we have to seriously ask the question of what’s next for the Caribbean? Oil and natural gas is not even 2019, it’s 1999. We have renewable energy now, solar, wind and hydro. Oil and gas is a dying sector, despite the successes Guyana is having now tapping into South American oil reserves.
What’s in the new world? It has to be the digital and virtual sectors. Whatever drives connectivity will be the new frontier and if you aren’t in it, you will be left behind and a customer to the countries that provide it.
There is also space for media and communications. Never before has there been so much richness in talk and talkshows since the advent of the podcast. Do you have talent? Well, a podcast or YouTube is a place where you can monetize that talent.
This is the new frontier for the people. OF course, technology is at the core base of these sectors. So building a framework around these sectors is vitally important. But leadership in the various countries need to see the vision and grab hold of the concept and general thrust of what’s taking place in the world.