Heraclitus, the ancient Greek philosopher, is quoted as saying "the only thing that is constant is change". The irony of this quote, which is a reality, is the fact that one of mankind's greatest fears is change. Moreover, the paralysis brought about by this fear is manifested in stagnation in people's lives, our careers, our environment and our mode of operation; in essence, we will be doomed by our failure to adapt and evolve.
The world is constantly changing before our very eyes and in the aftermath of the Great Recession we have witnessed, both literally and figuratively speaking, protests and riots by citizens across the globe against the perceived negative effects of a globalized world. This dissatisfaction has been channeled towards the easiest and likely target of an electorate - the governments of the day. The citizenry of nations are seeking to maintain what they believe to be left of their sovereignty while holding fast to the economic, social and cultural existence that define them as a people and distinguishes them from others.
An island nation
The Bahamas is an archipelagic nation which fits into the category of small island developing states (SIDs) with unique challenges in its pursuit of economic growth and development. Our unique geography requires an exact replication of public goods and services throughout our island chain. While we often refer to ourselves as an island nation, in the figurative global village to which we belong, The Bahamas is not an island unto itself just like no man is an island. We dwell in an increasingly globalized world of interrelatedness and interconnectedness that is rapidly changing to meet the demands of citizens, governments and businesses alike. In this environment, multi-lateral agreements, political, economic and trade blocs are the norm.
Regionalism despite domestic opposition has become a necessity for growth, survival and sustainability in a global and competitive world that functions on the principle of the survival of the fittest. Indeed, in the midst of it all, there is no level playing field. SIDs like The Bahamas find themselves under increasing pressures to remain competitive among industrialized nations that possess far more resources and intelligence to remain ahead of the game. Despite our limited resources, we are constrained to provide the same level of public service, public administration, infrastructure, business environment and trade opportunities like many of the so-called "first world nations" to our people.
The Bahamas advantage
There is no doubt that branding initiatives are important to remain relative in an increasingly competitive world. We must ask ourselves: How can a nation like The Bahamas distinguish itself and gain a competitive advantage over our regional counterparts and first world nations? We have done well as a nation both by design and coincidence to establish "The Bahamas" as an attractive and viable brand with our most lucrative exports being tourism and financial services. However, like many businesses, our brand remains constantly under threat in an environment of imitation and duplication of successful models.
Like businesses, competitors will adopt successful models as part of a winning strategy to serve their purpose. In this sense, The Bahamas has lost and is continuing to lose its competitive edge, particularly in the two sectors that contribute the most to our gross domestic product. We are witnessing before our very eyes our regional competitors and new entrants to the markets globally race past us as they climb the index on the ease of doing business while we continue to take sharp drops down the ladder and concurrently lose our competitive edge.
A perfect storm and product development
Unfortunately, we have found ourselves in a perfect storm - the cost of doing business is high with the cost of energy being a major contributor; doing business is complicated with multiple agencies spread across the island and the nation, delivering sometimes unreliable and inadequate services. We are challenged to deliver government services on a modern platform that is operated within an antiquated public service framework. With such realities, The Bahamas' ability to attract quality, diverse and sustainable foreign direct investment and domestic investment is at risk due to unnecessary approval delays, inadequate infrastructure and poor turnaround times. No doubt, this reality has contributed to The Bahamas' contraction in growth and credit downgrades over the past several years, which has arguably served as a deterrence to foreign direct investment and domestic investment activity due to low investor confidence.
Hence, what will distinguish The Bahamas from the rest of the pack? The obvious answer is that we must improve our product offering inclusive of a delivery of better service, while reducing the cost of doing business and subsequently improving our standing in relation to the ease of doing business. It is important that these reforms take place if we are to ensure a better quality of life for our citizens, residents and investors alike. In this sense, The Bahamas must continue to improve its infrastructure by building modern and energy efficient buildings, improve our roads and thoroughfares throughout the archipelago, modernize our public services and private sector enterprises through technology, encourage efficient transportation and traffic management systems and provide reliable, efficient and other cost effective utility services among other things.
Revolutionizing the modern Bahamas
While citizens and the private sector will be at the center of the impending revolution and play a pivotal role in bringing about much-needed solutions, the government will need to fulfil its traditional role by effectively developing laws, policy and technology that will move The Bahamas toward a "smart nation" - a nation built upon "smart cities". A smart city will be the 21st century vehicle that will be the catalyst to economic growth. Additionally, a smart city will encourage investment in human and social capital as well as information and communication technology (ICT) to foster sustainable economic development and a high quality of life through the efficient use of resources while engaging key stakeholders in society.
The evolution of the Bahamian society and the global world have forced nations the world over to re-think how they function and conduct business. Like many nations the world over, The Bahamas is faced with the pressing challenges and realities of climate change, increased pressures on public funds for the delivery of public goods and services, the advent of e-commerce, a growing youth population and ageing population that imposes unbearable pressures on capital cities and an economic model that in recent times has caused economic contraction rather than real economic growth.
It is unfortunate that when smart cities are discussed around the world, The Bahamas and Caribbean nations are not considered to be major players. This raises the question: What is the government's plan to move toward a smart city? Are the policies being introduced and implemented today taking into consideration a strategic move toward the creation of smart cities that will encourage innovation, competition and economic growth? What is the anticipated timeline to move toward a smart nation status?
A smart Bahamas
A smart city goes beyond the use of ICT in the delivery of services. The efficient collection of data leads to better decision-making and the implementation of efficient and cost-effective laws, regulations and policies. A smart city adopts ICT to assist governments and the private sector in being more intelligent and efficient in the use of scarce resources that will reduce the cost of doing business, including the cost of energy while improving a city's quality of life by taking environmental concerns into consideration via the reduction of unhealthy emissions. A smart Bahamas will embrace digital government, consider disincentives to traffic congestion, recognize the importance of Wi-Fi access in social and economic development and promote green cities through the policies that focus on waste management, renewable forms of energy and the use of energy efficient products like cars and appliances.
In the final analysis, the government must ensure that any plan for national development should take into consideration the changing global dynamics, which by all accounts includes the shift toward becoming a smart nation. The Bahamas must set an achievable goal toward making this goal a reality. An effective smart city should attract and retain human talent, create entrepreneurial opportunities and be the engine by which innovation is encouraged leading to economic growth.
There should be stakeholder groups that include entrepreneurs, community leaders, political leaders, universities, churches and providers of transport and utility services to bring about a holistic and inclusive approach to building a smart city guided by a policy detailing a roadmap. If The Bahamas is to take its rightful leadership position among the community of nations, then the conversation must begin in earnest and with seriousness. The achievement of our objectives in becoming a competitive smart nation can only be achieved by leveraging the resources that dwell within our public and private sectors. The question is not whether we can afford to have a smart nation, the question is whether we can afford not to.
o Arinthia S. Komolafe is an attorney-at-law. Comments on this article can be directed to a.s.komolafe510@gmail.com.
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