Dr Worrell: Keep pace with the competition

BRIDGETOWN, Barbados, Advocate - The way to outrun the competition in the international market is to improve productivity. This was the advice given by Dr. Delisle Worrell, Governor of Central Bank of Barbados (CBB). Delivering his address at the opening ceremony of the Week of Excellence at the Grande Salle yesterday, he highlighted, “Foreign exchange markets are highly competitive, and to grow your market share or to grow with the market you have to keep pace with the competition, and find ways to get ahead.” In the wake of challenging times in the tourism sector, the Governor dispelled the myth that the country can grow its tourism and international business sectors by lowering its prices. He said, “Barbados commands a tiny share of Caribbean tourism – less than 5 per cent – and a miniscule percentage of global tourism to tropical resorts.