A dreamy holiday destination for sun lovers and beach goers, Grenada, also called the “Spice Island,” is home to over 100,000 people. With an ocean area 80 times larger than its land space, a rich and pristine coastline and colorful coral reefs driving its tourism industry, and a real understanding of climate risks, this Eastern Caribbean Island has recently positioned itself as a real blue economy champion in the region. Over 13,000 kilometers west, another small island developing state in the Western Indian Ocean with similar challenges and opportunities—the Seychelles—is also leading on the blue agenda.
What common challenges and opportunities are facing small economies? What can the World Bank contribute to generate stable growth in small economies? These are key questions raised in recent conversations in the Caribbean and Washington.
Grenada Prime Minister Keith Mitchell, recently appointed as chair of the World Bank Group Small States Forum taking over from Seychelles Minister of Finance Jean-Paul Adam, called for the need to change the narrative from big to small, and in doing so, address opportunities for small states.
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