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Stop scrolling. Look at your passport. Now look at the data below.
While we debate "culture" and "vibes" on LinkedIn, the Dominican Republic (DR) has quietly built an economic machine that makes the rest of the Caribbean look like a hobby shop.
They aren't winning just because they're bigger. They're winning because they're clustering.
We analyzed the 2025 Innovation & SME Data across the region. The results are a wake-up call for every CEO, Policymaker, and Business Leader in CARICOM.
1️⃣ The "Unicorn" Gap: Zero vs. Thirty-Eight
Let's start with the metric that matters in the 21st century: Scale.
Latin America & Caribbean Unicorns (Startups >$1B): 38 (Rappi, Kavak, Nuvemshop)
Caribbean-HQ Unicorns: 0
The Innovation Trap
We assume "Bigger Economy = More Innovation." The data proves otherwise.
The Insight:
Barbados (GDP $6B) has a higher Innovation Efficiency Score than the DR (GDP $127B).
The Problem: We produce the talent (Rihanna, Fintech founders), but we don't provide the soil.
The DR Solution: They're currently importing innovation (FDI) to build capacity (Medical Devices, Logistics), moving from "Idea Generation" to "Execution at Scale."
2️⃣ The "Cluster Effect" (Why DR Wins)
Singapore didn't get rich by having small businesses. It got rich by clusters—groups of companies in the same industry that make each other faster and smarter.
The Data:
DR Medical Device Cluster: 80+ companies in Free Zones (Vertical Integration)
Jamaica BPO Cluster: 60+ companies (Horizontal / Labor Rental)
Trinidad Energy Cluster: 40+ companies (State-Dominated / Declining)
The Difference:
The DR's cluster is Vertical. They don't just assemble devices; they make the plastic, the packaging, and the sterilization locally.
Trinidad's cluster has no "Plan B" as gas declines.
Jamaica's BPO cluster rents labor but owns little IP.
💡 The Playbook: If your business isn't part of a "Cluster" (sharing logistics, suppliers, or talent), you're competing alone against armies.
3️⃣ The "SME Trap" (The Chart That Hurts)
We love to say "SMEs are the backbone of the economy." That's a polite way of saying we're fragmented.
The "Anchor" Problem:
Trinidad: The State/Energy sector sucks up 70% of the room, leaving SMEs fighting for scraps.
Jamaica: High SME contribution (40%) sounds good, but often reflects a lack of large global corporates to drive supply chains.
DR: Large Corporates (62%) act as "Anchor Tenants." Companies like Grupo Puntacana and Vicini pull SMEs up the ladder by buying local construction, food, and services at scale.
📏 The Yardstick: Is your SME selling to a Global Anchor? If not, you're just trading cash with your neighbors.
4️⃣ The "Family Business" Pivot (Fact Check)
We often think Caribbean conglomerates are all "family businesses." That's no longer true.
The New Reality:
🏢 Massy Group (Trinidad): Public Company. No longer family-controlled. Transitioned to an Investment Holding Company structure to professionalize and expand globally (e.g., buying IGL in Jamaica).
🏢 Goddard Enterprises (Barbados): Public Company. Diversified shareholder base, focusing on regional manufacturing and catering.
🏖️ Sandals Resorts (Jamaica): Private Family Business. The Stewart family retains 100% control. Adam Stewart's "Sandals 2.0" strategy is a masterclass in Vertical Integration—owning the tours (Island Routes), the supply chain, and the brand.
🏢 ANSA McAL (Trinidad): Public Company (though the Sabga family leads it). Their "2X Strategy" (Double Size by 2027) is driven by acquisitions outside the Caribbean (e.g., US Chemical plants).
The "Value Add" Question:
If you're a Family Business leader (like the Stewarts) or a Public CEO (like Sabga), the question is the same:
Are you building Infrastructure or just Distribution?
Sandals builds infrastructure (Hotels = Roads/Power for tourism)
ANSA McAL builds capacity (Chemicals/Construction)
DR Families (Vicini/Rainieri) build cities (Punta Cana is privately owned infrastructure)
💎 The Lesson: The winners in 2026 aren't just selling goods; they're building the platform others trade on.
🎯 The Call to Action: Build Your "Personal Cluster"
Stop Networking, Start Clustering
Don't just meet people; build a supply chain with them.
Measure Your "Anchor"
If 100% of your revenue comes from local customers, you're vulnerable. Find one Global Anchor client in 2026.
Look Left, Not North
The opportunity isn't just in Miami. It's in Santo Domingo. They need our English, our legal frameworks, and our capital markets.
🔥 Final Word
This isn't about envy. It's about survival.
The "Singapore of the Caribbean" spot is taken. But the "Hong Kong" spot (the financier/connector) is wide open.
Who wants it?
→ [Subscribe for Part 4: The Guyana Wildcard]
Sources: Global Innovation Index 2025, Massy/ANSA Annual Reports 2024, Sandals Resorts Corporate Data, World Bank Enterprise Surveys.
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