Jamaica Minister of Tourism, Hon. Edmund Bartlett, today (February 21, 2018) visited the New York Stock Exchange, Wall Street, to participate in a series of meetings and media engagements to promote Jamaica’s tourism product as an ideal investment market.
The Minister disclosed that there has been a notable increase in activity emanating from Wall Street, which is influencing tourism growth in the Caribbean. He also shared that there is a growing interest globally to invest in Jamaica, because of the noted improvement in the country’s economy.
“My visit here is to further establish that connection and to continue to make the point that tourism investment is now moving away from the family structures and private equity and into the public space. This allows a larger group of people to be owners of the tourism industry through the stock markets and its activities. I therefore urge more Jamaicans to own tourism,” said Minister Bartlett.
Mr. Bartlett noted that the interest of the Wall Street in tourism should come as no surprise as the value of tourism globally is US $7.6 trillion. He also noted that the industry is now the second most important contributor to global GDP, representing some 10 percent with nearly 400 million employed to the sector. This means approximately 11 percent of employed persons globally are in the tourism industry.
“Tourism has come a long way in terms of being recognised as a global driver of economic activity, creator of good jobs and also the cause of transformation and economic development within small and medium countries. It is indeed one of the fastest growing economic activities in the world today,” said the Minister.
Minister Bartlett is currently visiting New York City to engage in a series of strategic meetings with tourism partners and members of the Diaspora.
He is accompanied newly appointed Director of Tourism, Donovan White and by Senior Advisor and Strategist in the Ministry of Tourism, Delano Seiveright. The team is expected to return to the island on February 23, 2018.