BRIDGETOWN, Barbados — The Barbados-based Caribbean Development Bank (CDB) says it is collaborating with the Caribbean Tourism Organisation (CTO) in a new initiative to modernise tourism education and workforce development across the Caribbean.

The region’s premier financial institution said that the project is also aimed at strengthening the Caribbean’s competitiveness in an industry vital to its economic stability.

The Tourism Human Capital Development Project, funded through CDB’s Caribbean Technological Consultancy Services (CTCS) Network, will allocate about US$400,000 to update training materials, develop workforce management tools and deliver professional development programmes.

Titled “Enhancing the Knowledge and Skills of Tourism Workers in the Caribbean Region”, the project aims to bolster the sustainability of the tourism industry, particularly for micro, small and medium-sized enterprises (MSMEs).

The CDB said that by modernising educational resources, the initiative will enhance tourism curricula, improve workplace management and expand training opportunities for employers, workers and entrepreneurs in CTO member countries.

“These efforts will equip industry professionals with the skills needed to adapt to evolving market demands and ensure the sector’s long-term resilience,” said Dona Regis-Prosper, the CTO’s secretary-general and chief executive officer.

“Strengthening our current and future workforce, from students and educators to MSMEs and industry leaders, is key to the sector’s growth. Through targeted training, technical assistance and enhanced educational resources, this project empowers individuals and businesses to elevate industry standards, improve service delivery and drive sustainable tourism development across the region.”

The initiative builds on findings from the 2022 Regional Human Resource Development Knowledge and Skills Audit which was also financed and supported by the CDB and identified critical skills and knowledge gaps in the sector.

The project will update CTO’s tourism education materials from primary school through to university level, design an online workforce management platform, and introduce training focused on digital innovation and leadership.

“We are grateful to the CDB, and its CTCS Network, for supporting this initiative to enhance the competitiveness of the Caribbean tourism workforce and businesses,” Regis-Prosper said.

CDB’s acting Director of Projects, L O’ Reilly Lewis, said the project advances strategic efforts to build production resilience and promote private sector operations, including MSMEs.

“The bank is pleased to engage and support CTO with this initiative. We recognise the tourism industry’s significance to many of our regional economies and CDB’s borrowing members in terms of its contribution to both economic and social development.

“The bank’s contribution to this project complements our ongoing efforts to engender a skilled and adaptable workforce in tourism-related businesses aimed at sustaining the competitiveness of the industry.”

The CDB said that with global economic uncertainties, increased competition and a growing emphasis on sustainable tourism, industry experts say attracting and retaining skilled workers will be crucial to the region’s economic future.