How and in what ways governments in the Caribbean have engaged in making cities sustainable by creating career and business opportunities.

 

The economic and financial condition of the Caribbean countries is basically weak as it often faces many adverse climatic conditions like hurricanes, cyclones and other natural disasters too.

Thus, too boost and grow its economic condition as well as human development, many important factors of production are needed to be installed in the system. Therefore, governments in the Caribbean countries have engaged all its resources in making cities sustainable by creating career and business opportunities in many different ways - 

(i)  Driving forces - The major factors responsible in driving the economic growth and development of Caribbean nations are :-

a) Capital Stock - The more the flow of money and investment is there in an economy, the more is the production, consumption and revenue generation too, which ultimately leads to economic growth.

b) Labour - the more labour employed at work means more productivity, eradicating unemployment, enhancing the income and purchasing power. This creates a hike in the level of consumption, generating economical profits.

c) Technological Advancement - the advanced tools and technologies reduces the overall cost of production, which results in more revenue generation than the expenditures and hence adding up to the economy like Caribbea's GDP and growth.

(ii)  Specific technologies - The following three are the basic means of revenue generation in the different regions of Caribbea. The major Caribbean economic activities where the need of specific tools and technologies is must, comprises of -

·        mining & drilling - The natural resources found in the Caribbean region such as - gold, bauxite, petroleum & gas etc, have a key role in the growth of its GDP. The use of specific technologies in the area of mining & drilling will therefore enhance the productivity to another level.

·        tourism - Caribbean nations earn a major part of its revenue from foreign visitors and tourists. Thus, specific technologies to improvise the infrastructural capacity and transport used by the tourists should be enhanced so as to increase the earnings of the region more. 

·        agriculture - Among all agriculture being the most traditional way of earning or providing occupation to the people. It also plays a vital role in sustaining the economic development and growth. The specific tools and technologies used in this particular area are - fertilizers & pesticides, hybrid seeds, modern machines, proper irrigation facilities, etc. 

(iii)  Impact of technologies - The different regions and nations of Caribbea can embrace an innovation and technological change in many ways like - skill development of workeforce and businesses through the introduction of modern technologies and tools.

The use of new inventions and technologies makes the process of production more cost-effective and profitable. Further, the rate of investments and productions rise in order to gain more revenue.

This creates more jobs for the skilled workers and a surplus income, which results in more demand of good and services in the economy. This helps in the generation of revenue which moves the economic cycle.

(iv)  Current and anticipated trends - The recent economical trends of the Caribbean nations reflects its potential and ability to not only adapt the new technologies but also to innovate the one.

As with time the businesses and the work force adapt to the new technological introduction and changes. In the current scenario, it has the free hand to innovate the required technologies thyself. While using different methods to train and skill the employers and employees.

By encouraging different industries and firms to go for new inventions and innovations of new tools and technologies in the field of production.

This helps them to compete in the local and global market with other competitors present already and also reduces the risk factors involved in the areas of investment, production, consumption and revenue generation.

On the grounds of human development too these trends are beneficial. As the use of modern technologies needs proper skilled labour to take over the operations. This creates more employment and income, resulting in the rise of consumption and purchasing power of the population.