Barbados: A Time for Change: Country Development Challenges
Barbados is a small tourism based economy accounting directly for 12 percent of real gross domestic product and over 40 percent of GDP when considering indirect spillovers to other sectors. It has several structural constraints to the economy such as low levels of diversification and limited competitiveness. Given the economy's profile this report has identified four key areas that present structural challenges to growth and development. Barbados has enormous potential, but it needs to return to macroeconomic stability and address key constraints to growth.