Jamaica sees higher tourism revenues
Jamaica saw an 8.6 per cent increase in tourism revenue in 2018, Tourism Minister Edmund Bartlett said on Tuesday.
"At the end of December 2018, Jamaica had 4.31 million visitors, which represents the second year in a row that the county has had over 4.3 million visitors in a single year. But, the earnings is the area of greatest performance for us in 2018, because we had an 8.6 per cent in earnings from $3 billion in 2017 to $3.3 billion in 2018," said the minister.
Bartlett said that the increase in earnings has had a great impact on the local economy, primarily to the small and medium tourism enterprises.
"Tourism is growing at a phenomenal rate, but because the retention of the dollar is hovering at 30 per cent, we can say that there is more than US$1 billion in circulation across Jamaica coming directly from tourism. The impact of this is seen in the growth of the small and medium enterprises, who are more involved in the industry than ever before. The dollar is being retained because more and more of our people are supplying against the demands of the industry," he said.