Resilient Tourism Sector Offers a Range of Rewarding Investment Opportunities
Such is the country's allure, Jamaica's tourism sector has rebounded incredibly fast from the Covid-19 crisis
Jamaica is taking its tourism portfolio to the next level via new infrastructure funded by wealthy foreign partners
Jamaica is an extremely investment-friendly country that invites and welcomes foreign capital. Especially in the tour ism sector, the island provides the right environment and considerations for investments to flourish.
Edmund Bartlett, Minister of Tourism
Minister of Tourism Edmund Bartlett is quick to highlight several of the many reasons the sun-kissed country is catching the eye of investors seeking rich returns. "We have a very active foreign exchange programme, allow repatriation of profits and movement of assets at will, and nobody in Jamaica puts a stricture on business initiatives, which is extremely important;' he states.
Donovan White, Director of Tourism, Jamaica Tourist Board
"We also have a very modern and progressive fiscal regime that guides and assists investment activity in our country, and the ease of doing business in Jamaica is at a high level. We have a highly educated population that speaks English. There are many investment projects available in the Caribbean, not just in Jamaica. Investment provides jobs, which provide income, which provides revenue that benefits everybody:'
Jamaica's immeasurable charm regularly makes international travel press headlines and, prior to the pandemic, tourist arrival records were being achieved on a frequent basis. More than 4.5 million people arrived in the 12 months to March 2020, and while the fallout of Covid-19 disruption has been significant, life is now returning to normal, with upbeat tourism chiefs forecasting a full rebound in visitor numbers by 2024 at the latest.
Established nearly 70 years ago, Jamaica Tourist Board (JTB) is the ambitious national tourism agency, which coordinates a comprehensive range of marketing and promotional activities and initiatives from its headquarters in the bustling capital city, Kingston. In October 2021, JTB was declared the Caribbean's Leading Tourist Board by the World Travel Awards (WTA) for the 13th consecutive year, while Jamaica was named the Caribbeans Leading Destination for the 15th year running as well as the Caribbean's Best Spa Destination and the Caribbeans Best Meetings, Incentives, Conferences and Exhibitions Destination.
Glory at the WTA is the ultimate travel and tourist industry accolade. Voted for by travel and tourism professionals and consumers worldwide, the awards recognise demonstrated commitment to excellence. Strict health and safety protocols, developed in conjunction with health and tourism authorities, saw the tropical gem become one of the first to receive the coveted World Travel and Tourism Council's Safe Travels stamp of approval.
"Weve had to think differently about how we market Jamaica beyond traditional means, and this approach has strengthened our position at the forefront of tourism recovery;' comments JTB director of tourism, Donovan White. "Through the innovative use of online marketing to maintain consumer connections and expand our digital marketing initiatives, we have provided consumers with exclusive access to the destination like never before. This new landscape led us to reimagine and transform in-person experiences into digital activations to generate consumer anticipation, desire, excitement and, ultimately, the confidence to drive travellers to visit Jamaica again;' he adds.
"Weve also adjusted the way we market and conduct events that are traditionally held in person by engaging consumers and industry partners on virtual platforms. We've created virtual tours of the destination that highlight our brand pillars of gastronomy, adventure, romance, music and, above all, our people:'
White is confident more and more visitors from the Middle East will book holidays in Jamaica as word spreads of the island's pulling power. "Our discussions during our trip to the UAE in 2021 were fruitful, and the talks will undoubtedly result in the process of securing new investments, markets and gateways from the Middle East to Jamaica and the rest of the Caribbean. This augurs well for Jamaica, as our tourism sector represents an important component of the island's national development:'