Jamaicans have nothing to fear from tourism FDI, says Bartlett
Published:Monday | October 28, 2019 | 12:08 AMJanet Silvera/Senior Gleaner Writer
WESTERN BUREAU:
Minister of Tourism Edmund Bartlett says Jamaicans have nothing to fear from the proliferation of foreign-owned hotels and other tourism-related companies across the island.
He said that tourism investors have a high level of confidence in Jamaica and that the nature of their investments was an indication that they had no plans to leave the country if things get tough.
Executive director of the Tourism Enhancement Fund Dr Carey Wallace was making a presentation on behalf of Bartlett at the Cornwall Funding Services’ fifth anniversary awards ceremony recently at the Sunscape Splash resort in Montego Bay.
Citing concerns raised by locals regarding the growth of foreign direct investment (FDI) in the tourism industry, in particular the acquisition of land and the construction of large hotels, the minister argued that there was no need for alarm.
ATTRACTIVE DESTINATION
According to Bartlett, without FDI, Jamaica would not have grown to where it is today. “As a tourist resort destination, we are fortunate to be appealing to the world’s top hotel brands wanting to be a part of Destination Jamaica,” the minister noted.
He said that the fact that these investors come courting with hard cash must not be overlooked. “In the past, we have seen Jamaica building hotels and leasing them to foreign management companies, and when things get tough, through no fault of ours, those companies simply pack up, hand back the keys, and take flight,” he lamented.
Attempting to further allay fears, Bartlett said that with the restoration of confidence in the Government and the level of stability in the country, foreign investors are not only “putting their money where their mouth is and investing in concrete and steel” but are developing their own markets to ensure that their rooms are occupied.
He said that the results of this long-term vested interest are evident in the data that show that over the past three years, Jamaica has seen new rooms added each year and a concomitant rise in visitor arrivals and an uptick in visitor spending, as well as greater retention from visitors’ dollar spend.
Bartlett used the opportunity to remind local entrepreneurs that the welcome carpet was also rolled out for any Jamaican investor wanting to go big in tourism.