Closing digital access gap would boost Caribbean economies – IDB

Excerpt from jamaica.loopnews.com/

Closing the digital access gap between the Caribbean and the more advanced economies could increase the region’s GDP by about 6 to 12 per cent over the medium term and provide a strong boost to a post-COVID-19 recovery, according to a new report by the Inter-American Development Bank (IDB)

The “Regional Overview: Digital Infrastructure and Development in the Caribbean” is part of the IDB’s Quarterly Bulletin economic series. In addition, it has economic sections for Suriname, Jamaica, Guyana, Trinidad and Tobago, The Bahamas, and Barbados.

The report looked at economic growth in the region, with a focus on productivity – a key driver of long-term economic growth and an opportunity for the Caribbean to get to the level of similar economies across the world.

“Access to faster internet is more than just streaming Netflix and Zoom calls,” said David Rosenblatt, the Regional Economic Advisor for the IDB’s Caribbean Department. “For the Caribbean, a modern and robust digital and telecommunications infrastructure is a connection with powerful global trends that are driving growth. It is the key to unlock faster productivity growth for decades to come.”