Published on : Thursday, January 31, 2019
With a record-breaking 4.31 million travellers visiting Jamaica in 2018, the island nation’s tourism industry is poised to boost its rate of growth by expanding investments in small- and medium-sized tourism enterprises.
By expanding investment in small and medium sized enterprises the Jamaica tourism industry is poised to boost its rate of growth. In 2018 it had a record-breaking 4.31 million travellers and the tourism minister, Edmund Bartlett during the Caribbean Travel Marketplace earlier explained that more than 80 per cent of tourism in Jamaica is driven by small- and medium-sized businesses.
He went on saying that by increasing investment in national economies and its citizens will only result in having greater resources to provide an enhanced visitor experience.
Through a broad range of strategies that spans education, specialized training, and credit financing Jamaica’s tourism industry will be professionalized. This will help more of their citizens can be on par with travel professionals around the world.
At the Montego Bay Convention Centre more than small and medium sized tourism enterprise convened.
Bartlett mentioned that the small- and medium-business sector contributes most to Jamaica tourism. But only 20 per cent of small- and medium-sized tourism enterprises revenue returns to their benefit.
The anomaly should be re-balanced and they want to go back with good ideas with investment capital.
Nearly J$1Billion has been directed by the Jamaica ministry of tourism into the Export-Import Bank of the United States for lending at a rate of four-and-a-half percent to Jamaica’s small- and medium-sized tourism enterprises.
This has generated an overwhelming response from local small business owners.