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Caribbean countries have been among the pioneers of globalization. Since their global integration, they have profoundly contributed to the world through the fields of art, literature, music, and sports. However, not only have they contributed to the world, but they were also affected by it. There are advantages and disadvantages of globalization in Caribbean countries. The main changes introduced by globalization may be evaluated through economic and cultural perspectives. While globalization has had an asymmetrical effect on the Caribbean’s economy, the detrimental influence of global integration on Caribbean culture is evident.
Globalization allowed Caribbeans to enhance their economy by attracting private investments and promoting tourism. Entering the international market enabled Caribbean countries to attract foreign companies and capital. This increased the private capital flow from $651 million in 1990 to $147 billion in 2018 (Santiago, Fuinhas, Marques, 2020). In addition, the enhanced connection and collaboration with the world propelled the development of Caribbean tourism. In 2018, its contribution to the Caribbean’s GDP was 15.2%, which equals $34.6 billion (Santiago, Fuinhas, Marques, 2020). This data proves the economical benefits that Caribbean culture received as a result of globalization.
However, despite the beneficial economic influence, globalization imposed some difficulties for the Caribbean economy as well. When international companies entered the local Caribbean market, it created some challenges for national businesses and the population. The main issue for local businesses was an overwhelming international competition, resulting in the locals losing control over their companies or simply closing their enterprises. Another cost of global economic influence was that foreign companies were inclined to only hire locals for a meager salary and on positions without the potential for promotion.
Finally, another disadvantage of globalization was its negative influence on Caribbean culture. Western culture rapidly started to overpower local traditions, like cuisine and music (Storr, 2020). Westernization of the Caribbean diet led to the increase of public health problems with the introduction of unhealthy food to the population (Storr, 2020). Native Caribbean languages were also being actively substituted for the English language (Storr, 2020). Therefore, such an effect on the culture may be considered as a disadvantage of the Caribbean globalization.
In conclusion, globalization has both advantages and disadvantages for Caribbean countries. International integration propelled economic growth but introduced some challenges to local businesses and the working population while also negatively affecting the traditional Caribbean culture.
References
Santiago, R., Fuinhas, J. A., & Marques, A. C. (2020). The impact of globalization and economic freedom on economic growth: the case of the Latin America and Caribbean countries. Economic Change and Restructuring, 53(1), 61-85.
Storr, J. M. (2020). Local media, power and society in the Caribbean. In A. Gulyas & D. Baines (Eds.), The Routledge Companion to Local Media and Journalism (pp. 310-322). Routledge.
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