Loans for Micro-Sized Tourism Enterprises

Governor-General, His Excellency, the Most Hon. Sir Patrick Allen, says that starting 2019/20, the Government will begin offering loans of less than $5 million to micro-sized tourism enterprises.

The Governor-General made the announcement during his Throne Speech to open the new legislative year in Gordon House on Thursday (February 14) under the theme ‘In Partnership towards the new prosperous Jamaica’.

He said that the support is an expansion of the special loan facility for small tourism enterprises provided through partnership between the Tourism Enhancement Fund (TEF) and EX-IM Bank.

The facility offers loans of between $5 million and $25 million to enable continued growth and sustainable development of the tourism sector.

Meanwhile, the Governor-General said that the Tourism Workers Pension Bill and Regulations will be tabled in the new legislative year.

“This Bill will give tourism workers secure welfare during their retirement,” he noted.

He said the Government will also seek to amend the Tourist Board Act to modernise the provisions and regulations, and strengthen enforcement. The Travel Agency Act and Regulations will also be amended to incorporate more modern provisions in keeping with global industry standards.

The Governor-General said the Government is also working to “attract and facilitate new public and private investments; develop and open new destinations and attractions; train and certify more tourism workers; support and facilitate more entrepreneurs and innovators; and integrate more technology into tourism products and services to drive productivity and make the tourism experience more fulfilling and seamless