Reigniting the Singapore dream: Barbados at the crossroads

“Do not conform to the pattern of this world but be transformed by the renewing of your mind.” – Romans 12:2

Three decades ago, after an enlightening visit to Singapore, I coined the phrase, “Barbados: The Singapore of the Caribbean.”

Today, I revisit that vision, not out of nostalgia, but necessity. Our socioeconomic engine, post-COVID-19, is sputtering. Socioeconomic growth remains sluggish amid domestic inefficiencies and global headwinds. Thirty years ago, we had the chance to aggressively seek global investment partnership and strategically chart a different course.

The question is — do we have the political will to pivot now in the interest of posterity in parallel with the day-to-day management of our current predicament?

Singapore’s transformation offers a masterclass in strategic nation-building. When Lee Kuan Yew and the People’s Action Party assumed power in 1959, Singapore was a poor, overcrowded colonial outpost. Yet, with disciplined governance, visionary planning, and relentless innovation, it rose from scarcity to prosperity within a single generation.

Singapore’s landmass expanded through reclamation; its population quadrupled through managed immigration; and its GDP per capita skyrocketed from US$500 to nearly US$93 000.

Barbados, by comparison, has moved from US$367 in 1960 to around US$25 000 in 2024, but stagnant when measured against our potential. The Barbados challenge will not be as difficult as Singapore’s.

However, to move from stagnation to sustainability, we must unclog the economic engine by shifting skillset, mindset, and engaging cross-cultural communication. That means embracing examples of success, sharpening our strategic vision, strengthening governance, eradicating corruption, investing in innovation, enhancing education, and health, expanding our population base, modernising infrastructure, reducing our food import bill, and tackling the high cost of living.

Singapore proved that discipline and imagination can overcome limitations. Barbados, too, can rise — if only we start steering with purpose. We need a Strategic Singapore Model Think Tank, staffed by experienced professionals to work alongside the government and recommend transformative action.

It’s not too late to reignite the Singapore dream — if we act boldly, inclusively, and with disciplined intent.

basilgf@marketplaceexcellence.com