Clear as Day

Today in the news it was reported that the Caribbean had disappointing levels of sugar production with Barbados having the lowest at approximately 40,000 tons.

Over the weekend, former minister of foreign affairs, Dame Billie Miller, stated that financial and other services were poised to surpass tourism as the key economic sector in Barbados.

Tourism, as many of us would imagine, is taking some hard blows. According to Sue Springer, Executive Vice President of the Barbados Hotel and Tourism Association (not to be confused with the Barbados Tourism Authority (BTA)), cancellations of holidays previously booked for the upcoming 2008/9 winter season are even taking place among the high end of the market.

Meanwhile, the prime minister has announced three gas price drops in two weeks, while the private sector laments that it simply cannot lower prices unless the manufacturers lower their costs.

Then there is labour, poor labour, which will enjoy a 10.5 per cent increase in salaries over the next two years while the levels of inflation continue to generate record double-digit increases.

These are clearly some of the darkest times we have known for at least a generation.

I, personally, am pleased at the efforts that this new government is making to marry its tourism and foreign investment policies. I've always queried why the BTA and Invest Barbados, for example, never really seemed to have a relationship.

The new strategy is for honorary consuls, tourism officials and foreign investment specialists to hold pow-wows and the fruit can only be sweet in the medium - long term.

There is also greater regional consultation on everything from tourism to Chronic Non-Communicable Diseases, which is again, the kind of alliance that could very well serve to keep the Caribbean afloat through this economic downturn.

Personally and professionally, my plan is to steer clear of and minimize the influence of those around me who continue to act as if it is business as usual. That lot is either more clairvoyant than the rest of us, which I sincerely doubt, or clearly wearing rose-coloured glasses.

These are some serious times.

On top of all of this the USA, our biggest neighbour is in the middle of a presidential election, the outcome of is sure to have a ripple effect across the entire globe, in both negative and positive ways, no matter the outcome.

Again, I'd like to purport that there is no time like the present for the government of Barbados to take a good look at spurring intellectual property development in Barbados.

It is more than entrepreneurship. It is about getting those ideas that are profitable, that have yet been made manifest in the natural to come into being.

Put more investment in our young Rihannas, Hal Lintons and Shontelles. Cut out some of the fat of our local academic programs and teach children how to start their own businesses from even a very young age. Introduce an intellectual property law masters at the university and get more people understanding the gold mines that exist in patent examination as a means of fostering further creativity among our people.

The more we take intellectual property for a joke, the more the food channels will steal our Caribbean food, the metropolitan entertainers will steal our rhythms and our economies will continue to earn limited foreign exchange while our food import bill grows out of control.

There I gave one of the most critical recommendations to improving our economy.

Eventually, policy creators and implementers will see it too, as clear as day.

And this is a great place to start - IDEA '08 Conference, NYC.