Christmas Message: Chairman of BPSA Mr James Clarke

The Barbados Private Sector Association extends warm Season’s Greetings to all at this festive time of the year.

For the BPSA, 2025 unfolded against a challenging global backdrop. Slower global economic growth, shaped in part by renewed tariff tensions and ongoing trade disruptions, has had a measurable impact on businesses and on the wider economy. In particular, the application of tariffs on certain Barbadian exports to the United States constrained export performance and contributed to an expansion of the trade deficit.

Despite these challenges, Barbados demonstrated notable economic resilience. The economy continued to expand, supported by record-low unemployment, increased labour-force participation, sustained investment activity, and a significant boom in the construction sector. Strong performance in tourism further underpinned growth, allowing the country to advance in the face of persistent global headwinds.

These outcomes reflect the enduring value of Social Partnership as well as the resilience and adaptability of Barbadian workers, entrepreneurs, and businesses alike. Nevertheless, this is not a moment for complacency. The holiday season offers an opportunity to pause, rest, and reflect, while renewing our collective resolve to strengthen Barbados’ long-term competitiveness. We wish all families peace, good health, and joy.

As we look to 2026, the private sector remains firmly committed to supporting the effective implementation of initiatives under Mission Barbados, alongside the continued rollout of reforms at Business Barbados, and improvements at the Bridgetown Port. These efforts are critical to enhancing productivity, reducing the cost of doing business, and enabling Barbadian enterprises to compete more effectively in regional and global markets.

May the New Year be embraced with renewed energy, purpose, and confidence as we work together to build a more resilient, inclusive, and prosperous Barbados. Season’s Greetings once again and best wishes for the New Year.

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