When in the early 1990s it became apparent that Europe’s preferential regimes for Caribbean bananas and sugar were coming to an end, an impassioned debate began about a transition to other forms of economic activity.
For the most part, the focus was on alternative crops, import substitution, manufacturing, and financial services. Little was said at the time about tourism because its sustainability was widely regarded as uncertain.
Since then the world has moved on. Tourism has come to dominate most Caribbean economies. Unconstrained by the region’s smallness, the internet has enabled new offshore services to develop and prosper, and financial services, after being encouraged, have come under threat from the same nations that promoted their development.
In contrast, agriculture has been slow to reorient itself.
