Barbados has a service-oriented economy driven by tourism, international business, and financial services. Economic diversification efforts focus on renewable energy and agriculture. Government initiatives aim to strengthen fiscal sustainability and manage debt, but reliance on tourism leaves the economy vulnerable to external shocks. Regulatory frameworks support business development but face challenges in implementation efficiency. Society enjoys high literacy and education standards, contributing to a relatively skilled workforce. Climate change, including rising sea levels, threatens infrastructure and tourism. The health sector is accessible but faces resource constraints in addressing chronic diseases.
