Citation:

Paul Flemming, Barbara Flemming. "The Paradox of Economic Development and the Impact of the COVID-19 Pandemic on the US Virgin Islands Economy: A Caribbean Prospective through the reflective lenses of Stakeholders" International Research Journal of Economics and Management Studies, Vol. 2, No. 3, pp. 445-456, 2023.

Abstract:

It has long been argued in the literature that strategic development should be a comprehensive focus of both the public and private sector leadership, especially in semiautonomous organizations. The question that is posed for this research is whether the US Virgin Islands Economy became more resilience because of the environmental challenges it faced during the recent COVID-19 pandemic? The process of strategic development and formulation is an evolving phenomenon and should not be an annual or bi-annual event dictated by government leaders. The purpose of this research and the inferences made address the issues of the magnitude to which economic development professionals do, and which to think strategically outside of formal arranged process. Insights are gain from an examination and cross-tabulation of primary and secondary data to assess whether the priorities of both the public sector and private sector leaders devote to strategic planning and thinking varies because of competing factors. Such variables include the size of the community, its demographic characters, allotted operating budget, and more. The insights that are conjure up from the conclusions of the research is the realization of how the collective efforts of the community should spend more time tuned in to the immediate issues of economic development that will require consideration of the long-term direction and impact on communities as they evolve.

References:

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Keywords:

Economic Development, Cluster Industries, Economic Growth, Infrastructure Development.