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Business links and investment flows have become substantial, as of 2003 the island saw from Canada CAN$25 Billion in investment holdings, placing it as one of Canada's top five destinations of Canadian Foreign Direct Investment (FDI). Canadian Outward Foreign Direct Investment to the World (http://www.asiapacificbusiness.ca/data/trade/general_dataset5_toworld.cfm). Businessman Eugene Melnyk of Toronto in Ontario, Canada is said to be Barbados' richest permanent resident.

Following independence in 1966, Barbadian calypso became more popular, especially the white band The Merrymen, known for songs like "Brudda Neddy" and "Millie Gone to Brazil". Jackie Opel, a Barbaian singer, also arose, playing a blend of calypso and reggae that evolved into spouge music. Spouge was immensely popular in Barbados from about 1969 to 1973. In 1974, the Crop Over Festival was revived, featuring calypso competitions; as a result, calypso's popularity grew, rapidly overshadowing spouge and other genres, with only dub music achieving equal stature.

Though inhabited prior to the 16th century, little is known about Barbadian music prior to the arrival of the Portuguese in 1536 and then the English in 1627. The Portuguese left little influence, but English culture and music helped shape the island's heritage. Irish and Scottish settlers emigrated in the 17th century, working in the tobacco industry, bringing yet more new music to the island. The middle of the 1700s saw the decline of the tobacco industry and the rise of sugarcane, as well as the introduction of large numbers of African slaves. Modern Barbadian music is thus largely a combination of English and African elements, with Irish, Scottish, and modern American and Caribbean (especially Jamaican) influences as well.

Historically, the Barbadian economy had been dependent on sugarcane cultivation and related activities, but production in recent years has been diversified into the manufacturing and tourism sectors. Offshore finance and information services have become increasingly important foreign exchange earners, and there is also a healthy interest into the island's light manufacturing sector. In the last ten years the Government has been seen as business-friendly and economically sound. Since the late 1990's the island has seen an increasing construction boom, the island began to see new hotels, re-developments, new homes, office complexes, condos, and mansions being developed across the island.

Barbados has one of the highest standards of living and literacy rates in the world and is currently according to the UN, the #1 developing country in the world. The island is a major tourist destination.

Though mainstream audiences were still listening to R&B and rock, modern jazz retained a small core of followers into the 1960s. The foundation of the Belair Jazz Club in Bridgetown in 1961 helped to keep this scene alive.

British sailors who landed on Barbados in the 1620s at the site of present-day Holetown on the Caribbean coast found the island uninhabited. As elsewhere in the eastern Caribbean, Arawak Indians may have been annihilated by invading Caribs, who are believed to have subsequently abandoned the island.

The smaller of the two events is the Congaline Festival, which takes place during the last week of March. The Crop Over Carnival which includes various musical competitions, and other traditional activities usually kicks into high gear from the beginning of July, and ends in its entirety during the first week of August.