Gov’t Pushing for Greater Retention of Tourism Earnings In Jamaica

Jamaica must significantly increase the amount of tourism earnings retained within the local economy by expanding the country’s supply capacity and strengthening local ownership within the industry, says Minister of Tourism, Hon. Edmund Bartlett.

Mr. Bartlett further noted that too much of the wealth generated by tourism continues to leave the region, as Caribbean countries remain heavily dependent on imported goods and services.

He informed that he has been leading regional discussions on improving tourism’s supply side to ensure Caribbean people benefit more directly from the sector.

“I have been asked to chair their (Caribbean Tourism Organization) subcommittee on the supply side, which is what we’ve been talking about here in Jamaica,” the Minister said.

Mr. Bartlett was addressing the Tourism Enhancement Fund (TEF) Speed Networking Event at the Montego Bay Convention Centre in St. James on Thursday (May 7).

He disclosed that discussions have already been held with the Inter-American Development Bank (IDB) regarding support for a regional tourism demand study.

“They have agreed that they will fund a study on the demand of tourism in the Caribbean,” Mr. Bartlett informed.

He underscored that the greatest economic opportunities in tourism lie beyond hotel rooms and instead exist within the broader network of goods and services required to sustain the industry.

“The wealth of tourism is in the supply side. It’s what the people eat, it’s what they wear, it’s the vehicles that they drive in, it’s the transportation arrangements that are provided and it’s the attractions all around,” he said.

Mr. Bartlett further noted that Jamaica currently retains a higher percentage of tourism earnings than many countries in the region but pointed out that greater improvement is needed.

“The retention level of the tourism dollar in the region averages some 15 cents in the dollar. Jamaica is ahead of the pack, just below the Dominican Republic, but we need to go further,” he said.

The Minister indicated that Jamaica currently retains close to 40 per cent of tourism earnings and is targeting levels comparable to countries such as India.

“We are somewhere close to 40 per cent now, but we need to go to 50, 60 per cent. India has 60 per cent. They are the highest in the world,” Mr. Bartlett said.

He further stated that increasing local production and entrepreneurial participation will be critical to achieving that target.