Up till now, tourism earns over US$2 billion in 2017

Published on : Thursday, August 31, 2017

tourism earns US$2 billionThe initial eight months of 2017 witnessed record earnings of US$2 Billion from roughly 2.8 million visitors, as expressed by the Tourism Minister, Mr. Edmund Bartlett.

 
The aforesaid figure shows a growth of 8.3 percent in terms of gross foreign exchange earnings than US$1.83 billion earned in 2016. Besides, in terms of cruise passenger arrival, the figures were up by 5.1 percent for the same period.

 
To quote Bartlett, “my mission is to enhance the retention of the dollar from this US$2 Billion. In fact, the latest report from the World Travel & Tourism Council indicates that the retention of the dollar, from the consumption side has risen to 70 percent. The Tourism Linkages Council is going to drive that value added that is needed to take the retention levels in Jamaica from 30 cents to at least 50 cents, for the total dollar that is spent.”

 
In addition, Mr. Bartlett also emphasized that direct tourism contribution to the GDP is 8.4 percent at present. However, the induced and indirect contribution is around 27.2 percent now. Therefore, tourism stands as one of the limited labour intensive sectors that directly hires over 106,000 Jamaicans at the same time creating more indirect job opportunities for one in four persons, associated with agriculture, creative and cultural industries, manufacturing, and construction.

 
Bartlett was talking about this at the press conference briefing to report on the year-old TEF/EXIM Bank Small Medium Tourism Enterprises (SMTE) Loan Facility, at the Ministry’s New Kingston offices on August 30, 2017.

Tags:

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 02 wtm_london17
  • 04 AIME 2018
  • 12 indywood 17
  • 16 TT Warsaw 2017
  • 18 TTF17
  • 19 Emitt 18
  • 19 IITM
  • 43 PATA

TRAVEL INDUSTRY EVENTS

Get our toolbar!
Review www.travelandtourworld.com on alexa.com