Accommodation Subsector Spurs Earnings of Over US$100m from 500,000 Stopover Visitor Arrivals in 2022

More than US$100 million in earnings flowed into the coiffeurs of Jamaicans participating in the sharing economy during 2022, specifically the provision of peer-to-peer Airbnb accommodation.

This out-turn was generated from expenditures by approximately 500,000 of the 2.6 million tourists making stopover visits to Jamaica, who chose to utilise the lodging option during the period, underlining its growing popularity.

The sharing economy is a socio-economic system whereby consumers partake of the creation, production, distribution, trade and consumption of goods and services.

Tourism Minister, Hon. Edmund Bartlett, who made the disclosure, described the out-turns as “exciting for us”.

“What it is doing is broadening the tourism value chain and enabling more and more of the Jamaican people to benefit from tourism, and for a larger level of retention of the tourism dollar in our economy,” he stated.

The Minister was speaking during the 2023 Jamaica Product Exchange (JAPEX) trade show’s media breakfast at Jewel Grande Montego Bay Resort and Spa on Tuesday (September 12).

Mr. Bartlett indicated that there is an uptick of activity in the accommodation subsector for 2023, noting that this is indicative of “what we are calling the further democratisation of [this segment]”.

He emphasised, however, that as this business model continues to evolve, it must be integrated into the formal system.

Mr. Bartlett cited the Ministry’s ‘destination assurance strategy’, which is designed to ensure the safety, security and seamless experience of visitors throughout Jamaica, as pivotal to this undertaking.

Meanwhile, the Minister reiterated that the tourism industry has come a long way, progressing from a state of inactivity in 2020 to now recording outturns surpassing pre-pandemic levels.

In terms of visitor arrivals, Mr. Bartlett anticipates that Jamaica will welcome between 2.8 and 2.9 million tourists by the end of 2023, nearly 200,000 more than the figure for the banner year of 2019.

Additionally, he said earnings are projected to soar to a record US$4.1 billion this year, 22 per cent above the previous high of US$3.6 billion that was generated in 2019.

Meanwhile, Mr. Bartlett advised that Jamaica has secured 1.1 million passenger seats from across the globe for the fall 2023 season.

This, he pointed out, “represents the largest number of seats ever for the fall season”.

Following the media breakfast, Minister Bartlett toured the JAPEX floor at the Montego Bay convention Centre to view various aspects of Jamaica’s tourism product that are on display.

JAPEX, the premier trade event of the Jamaica Hotel and Tourist Association (JHTA), runs from September 11 to 13.

It is supported by local and international stakeholders involved in the development, promotion and sale of the island’s tourism product.