JAMPRO Targets European Investors for Tourism Projects

Jamaica will line up just about 50 projects which are intent on enhancing the island’s tourism product through the establishment of business practices including investment activities, when they gather at the Partnership Roles and Opportunities for Investors in Tourism (PROFIT) partnership meeting, scheduled for the Ritz Carlton, Montego Bay, October 5 to 8.

Over 200 Caribbean companies submitted business projects across the tourism sector and 109 projects were initially selected and some late submissions have been accepted. The projects are mainly in the attraction, hotel accommodation and cultural & entertainment areas.

PROFIT in the Caribbean is part of a 110 Million Euros European Union initiative (PROINVEST) to promote partnerships between European and Caribbean enterprises.

The delegates attending this partnership meeting have been specially invited and were part of a selection process which saw the launch of the project in the Caribbean with various promotional initiatives including: promotion at the World Travel and Tourism Council in Doha; an investment conference in Jamaica; road shows in Lisbon, Barcelona, Madrid, and London.

The partnership meeting in Montego Bay next week is expected to focus on providing the right business contacts for the tourism opportunities through workshops, networking sessions and one-to-one meetings.

Approximately 300 delegates are expected to attend including proposers from Jamaica and the Caribbean and potential investors from Europe. Financial institutions including the European Investment Bank, the World Bank and the Caribbean Development Bank will be on hand to discuss project financing.

The Jamaica Promotions Corporation (JAMPRO) in association with the Ministry of Industry and Tourism and the Jamaica Tourist Board are the coordinators locally along with the Caribbean Hotel Association, Deloitte and Touche and the EU.

JAMPRO’s Business Development Manager, Lisa Bell says, “as the investment promotion agency for Jamaica, we are anticipating a successful event. The tourism industry has been experiencing tremendous growth and the completion of these projects will complement the sector to meet the objectives as set out in the Tourism Master Plan.”