EDITORIAL: Risk management and diversification

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Photo taken from: writinglives.org

Former prime minister and living national hero Sir Lester Bird is said to be urging the government and the people of Antigua and Barbuda to go all in on tourism. While making his presentation during the debate on the $1.22 billion budget, Sir Lester dismissed the calls for the economy to move away from tourism. According to his assessment, tourism is an invaluable contributor to the economy, and there is no other sector that can match it.

In support of his argument, Sir Lester declared, “The economic survival and prosperity of Antigua and Barbuda is inextricably intertwined with the use of the tourism sector as the dominant engine of growth. Attaining the heights of an economic powerhouse cannot be achieved if the tourism sector is not a powerhouse in and of itself.”

We get the point, however we do not necessarily agree with it. Sir Lester is correct when he says that Antigua and Barbuda’s economy is “inextricably intertwined” with the tourism sector but that is because we have made it so. We took a conscious decision to utilize the tourism sector as our economic foundation (many years ago) and it has, for the most part,…

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