Even though our passports say Caricom, do we truly identify as Caribbean nationals? I suggest we find solidarity when we boast our global leaders and beaters in sports, music, and academia. Bob Marley claimed the song of the millennium in the twentieth century, Rihanna had the most digital downloads of any artiste in 2009, and Machel Montano performing in Madison Square Garden are just a few of our superstars. And we all rally as one when Usain Bolt, Shelly-Ann Fraser-Pryce, Kirani James, Anderson Peters, and Shaunae Miller Uibo win on any world track. Furthermore, our reverence for West Indies cricket could be considered supernatural.

I am an unapologetic regionalist. Our region’s population numbers are minimal, but as one bloc we represent eight per cent of the world’s nations. More importantly, in a global economy where principled positions are being reversed and eroded daily in deference to “might is right”, countries with small populations are better off standing together than alone, politically and economically.

When Caricom came into being on July 4, 1973 it was to improve regional integration in a politically polarised world. An honest assessment is that we have failed to meet this objective. Notwithstanding this, the principles of Caricom are more critical today than ever, as the world has changed dramatically since the early 1970s.

Of significance, the Group of Seven nations (G7), established around the same time, was the world’s largest manufacturers and exporters. However, they have been overtaken by the European Union, created in 1993, along with Asia’s rise, particularly China, the second-largest global economy. And with Africa’s natural resources and non-tariff intra-continental trade agreement they soon will disrupt international trade as a powerful force.

The generation of leaders 50 years ago had a passionate resolve to disrupt and conquer oppressive ideologies tied to our colonial past. Manley, Williams, Burnham, and Adams were clear that to move the working class to the middle class, and the middle class to owners of capital, the youth had to be empowered with education, social dignity, and economic mobility. Their voices resonated with courage on the world’s stage.

There is no new world coming; it’s already here. Our challenge is to motivate the collective will of the generations coming forward, not to relegate them to the ranks of isolationism. But, instead, urgently and proactively ignite their imagination to unify and lead a modern regenerated region aligned with the emerging economic rise of our allies in Africa and Asia.

The importance of the diaspora is crucial to the region’s social development and future economic growth. The reality is approximately half the populations of the Caribbean, or their direct descendants, live overseas. For example, only 50 per cent of Guyanese reside in Guyana; 30,000 leave annually, of which 80 per cent emigrate to North America.

The ratios are the same for Barbados and Trinidad and Tobago; their diaspora equates to almost half of their populations. Roughly 1.8 million people of Jamaican origin reside in the United Kingdom, Canada, and the United States. Sadly, the Human Flight and Brain Drain Index for 2022 ranks Jamaica second out of 177 countries for the economic impact of our human displacement.

Caribbean nations are not homogeneous either in culture or economic development. A closer look at the per capita incomes in 2019 for our larger countries in Caricom reveals the following: Jamaica, US$8,700; Barbados, US$15,600; Guyana, US$18,700; and Trinidad and Tobago, US$25,800. In the United States, where the per capita income is US$35,800, our respective diasporas can earn anywhere from 50 per cent to 400 per cent more annually if they move or live abroad.

The importance of the diaspora is crucial to the region’s social development and future economic growth. Jamaica, for example, exported US$1.2 billion worth of goods in 2021, but its remittance receipts were almost three times that amount at US$3.4 billion. Therefore, if the collective exports of our 3 million people residing in Jamaica are only one-third of the amount sent back by overseas Jamaicans, it could be argued that Jamaicans living abroad are the single most significant contributors to our economy.

Jamaica’s highest earnings for national exports for 2021 came from bauxite and alumina, US$470.7 million; rum, US$56 million; coffee, US$11.9 million; yams, US$36.5 million; ackee, US$24.5 million; and sauces, US$33.7 million. (Economic and Social Survey Jamaica, 2021)

If we are talking about development, we recognise the economic power of the Caribbean Diaspora and find ways to harness it for our collective progress better.

I believe our future lies in expanding Caricom, not reducing it. Herein lies an opportunity for the young people in our diaspora to offer enlightened leadership, which reassesses our approaches across the board, recognising that the ‘one size fits all’ modality is outdated and misaligned with the current expectations for a life worth living. It’s time for regeneration of the region.

Let us work on strengthening the region, forging a new togetherness that boldly signals to the world that we are finally serious.

Today’s world is rooted in technology, driven by millennials between the age of 16 and 36, making up 23 per cent of the global population. In 2020, millennials had the most spending power of any generation in our history, close to US$2.5 trillion. Roughly 80 million in the US spend US$600 billion annually. In less than 10 years, three out of every four workers (75 per cent) globally will be millennials.

We should start by incentivising our young people to return home, offering citizenship/passports, and creating attractive and more accessible investment opportunities. For example, steps could be taken in Jamaica to waive the 25 per cent tax on interest income for legitimate overseas residents. First, however, we would have to ensure that residents don’t convert existing savings into their family members’ accounts living abroad.

Currently, the greatest deterrent from Jamaicans returning home is the levels of crime and violence. Recently, the US issued travel advisories to its citizens not to travel to Trinidad and Jamaica. Crime costs Jamaica approximately 5 per cent of our gross domestic product (GDP) due to business losses, reduction in property values, missed investment opportunities, instability across sectors, and our people seeking safer countries for jobs and retirement. This amounts to $105 billion or $39,000 per person. So imagine how an additional $105 billion could transform Jamaica.

The Government of India offers bonds to non-resident Indians (NRIs), which aids in funding their education systems throughout India. Likewise, Jamaica should offer a diaspora bond to equip its police force with critical capital equipment and support the necessary social interventions and cognitive behavioural therapy programmes needed in our schools.

Actual development doesn’t happen by signing a contract or a public relations photo opportunity. Our people are over the ‘box and promise’, short-terms programmes. They want to feel the real change that improves the quality of their lives, with the economic climate and mindset to increase their per capita income continually.

It’s time we make proactive adjustments to our economic policies, which strategically allow the participation of our non-residents for our region to become global producers, rather than global consumers marginalised in a world without borders.

Lisa Hanna is Member of Parliament for St Ann South Eastern, People’s National Party spokesperson on foreign affairs and foreign trade, and a former Cabinet member.