BRIDGETOWN, 3 February, 2023 — A looming recession in major global markets and the expected resulting economic downtown may not necessarily be bad news for the Caribbean, says the CEO of a regional recruitment service, as ongoing efforts to diversify from tourism have been taking root and may well pay off.
“Everyone is watching the United States, United Kingdom, Canada and other countries where most tourists come from,”said Joseph Boll, Caribbean Employment Services Inc. CEO. “An economic recession could mean less spending in these markets, less tourists and everything that comes with that.”
Caribbean Employment Services Inc. is a market-leading digital talent acquisition service that aims to connect the top talent from the Caribbean with hiring managers, HR professionals and decision-makers in companies both within the Caribbean as well as abroad. Further, it aims to provide the region’s jobseekers and those who are already employed with news and resources related to Caribbean labour.
Boll continued, “As we’ve learned from the pandemic, tourism can be extremely vulnerable to external shocks and leave Caribbean economies devastated by things beyond our control. But the good news is that many nations have made serious efforts to diversify since then, creating jobs that have more stability even in an uncertain economic climate.”
These efforts, Boll said, may prove fruitful much sooner than expected if tourism takes a hit due to the recession but other, more stable industries like IT or Services continue to see the kind of job growth they’ve been experiencing over the past year.
The CEO also pointed to a recent report by the United Nations Economic Commission for Latin America and the Caribbean (ECLAC), which suggested that a decline in job growth is not actually expected to take place in Latin America and the Caribbean, once continued efforts are made by governments and businesses to keep up the positive job growth that the region has been experiencing as it recovered from the pandemic.
“Nations that aimed to become tech hubs may very well see that not only happening but also keeping economies afloat in a tough period,” said Boll. “Caribbean Employment Services Inc. looks forward to continued developments in this regard and remains ready to help businesses looking to match the best talent with their needs.”
About Caribbean Employment Services Inc. Caribbean Employment Services Inc., based in Barbados, is one of the market-leading online talent acquisition services, specializing in helping businesses and organizations recruit the best candidates for their roles and job seekers find their ideal position. For international and national employers looking to source the best talent from the Caribbean region and from the United States into their Caribbean businesses, we offer a range of recruitment solutions, all developed to find the right candidates for their roles. Find out more at https://caribbeanemployment.com or contact [email protected]
