Beyond Potential: How the Caribbean can limit Silicon Valley’s silent takeover

Barbados is often described as well-positioned to serve as a launchpad for digital businesses—a mantra that has grown tired, much like claims of “punching above our weight” or having untapped potential. These platitudes mean little without execution. Potential without performance is just an empty promise. And with the rapid global acceleration of AI and digital innovation, our window of opportunity is closing fast.

 

Yet, Barbados still holds a unique advantage—if we act decisively. Consider the following:

• An 84 per cent internet penetration rate, placing us among the most connected nations in the region
• 93.7 per cent of connections are broadband, supporting high-speed digital services
• A government seemingly committed to digital transformation, signalling policy support
• Relatively advanced digital business regulations and infrastructure, offering a strong foundation to build on
• An ability to scale solutions across the Caribbean, where regional demand is growing but underserved by global tech giants

 

Barbados doesn’t just have potential—we have the fundamentals. But to lead, we must move beyond slogans and start executing with urgency and clarity.

 

So where exactly are these opportunities—and why is now more critical than ever? In today’s shifting geopolitical climate, having a cohesive and coordinated regional strategy is no longer optional; it is a matter of national security and economic resilience. The Caribbean must urgently invest in strengthening its regional networks and infrastructure. Few efforts are more poignant or powerful than advancing Caribbean digital integration through innovative information technology solutions—solutions that not only connect our economies but also unify our people and safeguard our shared future.

 

After more than 25 years of the modern Internet, the Caribbean still struggles with limited innovation—largely due to the lack of accessible fintech solutions. If entrepreneurs can’t easily collect payments online, the incentive to build digital businesses vanishes. Why bother if you can’t monetise your efforts? To be fair, a few leaders like Gibbs Direct are making progress and showing what’s possible in e-commerce, but such examples are far too rare given the time we’ve had. This gap is especially damaging in a region where financial inclusion remains a major challenge. Large segments of the population remain underbanked, restricting access to basic economic services and stifling entrepreneurship. Cross-border commerce also faces persistent friction due to fragmented currencies and complex logistics, further limiting regional growth and innovation.

 

Food security presents another critical challenge. With over half of the region’s population facing some level of vulnerability, ensuring reliable and affordable access to food is now a pressing regional concern. We can’t speak seriously about food security while still guessing at crop yields and livestock capacity. With the level of technological accessibility across the region, there’s no reason we shouldn’t be able to visit a centralised platform and access near-real-time data on our agricultural output and regional capacity to feed ourselves. Such a system would not only support more effective planning and distribution but also enable smarter import decisions, reduce wastage, and strengthen regional collaboration during times of crisis.

 

This need becomes even more urgent when compounded by the Caribbean’s high vulnerability to climate change, which makes climate resilience not just an environmental concern, but a matter of survival. Accurate data and coordinated digital systems are essential if we are to build sustainable food systems that can withstand the growing threats of droughts, storms, and shifting weather patterns.

 

In parallel, the region is not only grappling with a widening digital skills gap but also a deeper innovation gap—both of which severely limit our ability to fully participate in the global digital economy. At the same time, our most vital economic driver—tourism—urgently requires digital transformation to remain relevant and competitive in an increasingly technology-driven global marketplace. Yet, year after year, I observe tourism events across the region recycling the same discussions around hotel product and destination marketing, with minimal emphasis on the one factor that continues to drive exposure, efficiency, and scalability: technology.

 

Given our resource constraints, one would expect regional conferences and symposia to place far greater focus on empowering the tourism sector through innovation and the strategic use of ICTs. Unfortunately, that commitment remains marginal at best.

 

These aren’t just aspirational development goals—they are existential imperatives. Failing to address them puts our regional competitiveness, economic resilience, and future prosperity at serious risk. What’s needed now is bold, immediate, and unified action across the Caribbean.

 

Nowhere is this urgency more evident than in the absence of a robust regional digital ecosystem. Tech giants like Google, Meta (Facebook, WhatsApp, Instagram), and TikTok are effectively “eating our lunch” by default. These companies collectively extract an estimated US$11.6 billion annually from Caribbean markets, primarily through advertising revenue—of which as much as 15 to 25 per cent is diverted away from local businesses and media to these global platforms.

 

What’s most troubling is that this economic outflow happens despite these companies having limited physical presence, minimal investment in local infrastructure, and no meaningful tax contributions to Caribbean governments. It’s a stark demonstration of the new battlegrounds shaping our economic future—where failing to build and defend a regional digital economy leaves us vulnerable to value extraction without reciprocal benefit.

 

The Caribbean has the infrastructure, talent, and intent to lead in the digital age, but fragmented execution and underinvestment continue to hold us back. Whether it’s fintech, food security, or tourism, the challenges we face demand coordinated action, not more slogans. If we are serious about regional competitiveness and resilience, we must build an integrated digital economy that empowers local innovation, reclaims lost value, and positions us to thrive in a tech-driven world. The time to act is now.

steven@dataprivacy.bb