The success for Barbados’ future growth depends on the expansion of its trade outreach as a means of increasing demand for Barbadian goods and services. Barbados has a four-pronged attack, which include:
an International Business that offers low corporate rates to attract more business in the financial services sector;
the expansion South-South trade and commercial activity;
the intensification of Barbados’ trading efforts in CARICOM; and
the creation of a diaspora economy.
The latter Diaspora Economic sector seeks to encourage Barbadians by birth, descent and by heart to buy into Barbados’ programme of national development and to participate by purchasing and promoting Barbadian goods and services.The Barbados diaspora is estimated at just under one million persons, representing a significant, untapped market. It is assumed that Panama alone is home to as many as 200,000 Barbados descendants. Reaching second and third generations of Barbadians abroad is imperative, as the first generation of the Diaspora, who were born in Barbados and emigrated elsewhere, is now significantly older, and will soon pass on. It is the Ministry’s objective to reach out to at least 100,000 persons in the Barbados Diaspora to encourage their participation in WeGatherin’2020 and to contribute to the overarching Vision2020 initiatives.
The WeGatherin’2020 national Competition will be launched on September 17, 2019 and will have a duration of 6 weeks (ending October 14, 2019). Competition participants can visit the MFAFT website, click on the corresponding link (which will be announced shortly) to get information that can be sent to friends and family in the Diaspora.
The national competition will be advertised and persons invited to visit the MFAFT website, use the relevant electronic link to register for WeGatherin’2020, and to provide the referrals of friends/family who may be interested in participating in next year’s events. Persons submitting 10 referrals will be eligible for a weekly prize draw. Persons referring more than 20 persons will be eligible for the weekly draw, and will also be eligible for the Grand Prize Draw. It is proposed that the grand prize draw will be televised on CBC.
With the assistance of the Barbados Hotel and Tourism Association, a number of local hotels and business have donated prizes for the competition including staycations, gift vouchers, airline tickets and island tours, among other items. The grand prizes for the national competition will include airline tickets, staycations and a cash prize of Bds $2000.00.
Media promotion for the competition will include spots on Mornin’ Barbados, CBC news, GIS, social media and radio shows for the duration of the competition’s six-week period. Sponsors who provided prizes for the competition will receive special mention during the promotional efforts in the media.