Tourism and Travel in Jamaica | UHY Dawgen Chartered Accountants Blog

Tourism and Travel in Jamaica | UHY Dawgen Chartered Accountants Blog

Overview

The direct contribution of travel and tourism to Jamaica’s GDP was 7.6 % in 2011. The sector providers 84,000 jobs directly, constituting 7.2% of the total employment in the country (World Travel and Tourism Council estimate). Jamaica is ranked 26th in the world for the relative contribution of travel and tourism to GDP, this is higher than the world average of 5.2%. Foreign visitor exports account for approximately 47% of total exports (2011, WTTC estimate).
There were 1,921,678 tourist arrivals with an extra 909,619 cruise passenger arrivals (2011, WTTC estimate). Around 1.2 million of tourist arrivals to Jamaica come from the United States – the largest number from any country – followed by 325,000 from Canada and 270,000 from Europe (2010, Jamaica Tourist Board). Leisure travel spending is the dominant form of travel and tourism accounting for 92.2% of the sector’s GDP in 2011, with almost 80% of the tourism sector spending coming from foreign visitors (2011, WTTC estimate).

Investment

Jamaica is a tropical paradise and the largest English-speaking island in the Caribbean. Known for its warm and friendly people, crystal clear waters and welcoming climate, the island remains one of the world’s favourite tourist destinations. Some of the major types of tourism are eco-tourism, nature tourism, sports tourism and cultural tourism. There are six resort areas in Jamaica: Kingston, Montego Bay, Negril, Ocho Rios, the South Coast and Port Antonio. The Jamaica Tourist Board (JTB) functions as an agency of the Ministry of Tourism and provides valuable industry information to affiliates and the public. One of its key initiatives is the Tourism Information Publishing Site (TIPS), established to serve as a valuable resource in promoting Jamaica. The Ministry of Tourism’s aim is to promote sustainable tourism development because of the dependency that Jamaica, along with many other Caribbean countries, has on the sector. In the future, the focus is expected to switch to health and sports tourism, and casino gaming. Other notable organisations are the Tourism Product Development Company, Jamaica Trade and Invest and Jamaica Hotel and Tourist Association.
In 2011 investment in the travel and tourism industry was JMD28.3bn, constituting 10.4% of total investment. This was expected to rise by 1.0% in 2012, and then continue to rise by 4.7% pa over the next ten years, reaching JMD45.4bn by 2022.