Caribbean Export OUTLOOK 3rd Edition

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Our Competitive Advantage

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uring the 20 th century, English Caribbean migrants flooded London and the U.S. bringing seeds ofwhat hadby thenbecome a richCaribbean culture. Soon, a distinctly Caribbean aesthetic began emerging in their new ‘villages’ powered by the steelpan, calypso and masquerade of men like Peter Minshall. Fast forward some 50-plus years and these first settlements now boast two of the largest Carnivals outside of the Caribbean and have been joined by major cities like Miami, LA, Sweden, Toronto, Rotterdam and Japan. Though the region may not directly profit from exported festival products of industry players, when people experience these exported products and are moved to visit the source, our region’s GDP increases. As Carnival flourishes abroad and Caribbean countries seek alternatives to traditional sectors such as the oil and gas industry or tourism which has bolstered the regional economy for decades, knowledge- based economic drivers are being positioned as the way forward and the cultural goods and services within the Region pose a viable option. Carnival promotes development of industry, creates employment across sectors, attracts investors, increases commercial activity and raises GDP. A cultural commodity atheart,italsoallowsforeignerstoengagewithcommunities, cultures and traditions thus fostering national and cultural pride. Each country can also highlight their unique selling points within this festival’s landscape. Networks between creative and business sectors are also fostered. Best of all the fun, open vibe acts as a perfect stress reliever, positioning it as an enjoyable travel getaway. Carnival also has a signature sound - Soca - which is presently making inroads to the global music landscape. Regional Rewards: Trinidad as Template While St. Vincent & The Grenadines, Grenada, St. Lucia, Barbados and Jamaica are recognized as top Carnival destinations, the Trinidad and Tobago Carnival has proven to be the most financially successful model. In 2017, their Central Statistical Office (CSO) released data showing an increase in Carnival revenue fromUS$43 million to US$48 million between 2014 and 2016 over a 19-day festival period. In 2014, theirMinistry of Arts andMulticulturalism released the ‘Carnival Blueprint’ which provided “ a guide to conceptualizing, planning, implementing and managing a successful Trinidad and Tobago-style Carnival that can result in significant social, economic and cultural benefits to the user ”. The Blue Print gave rationale for the installation