Jamaica On Track for 11% Growth in 2023

Jamaica On Track for 11% Growth in 2023

January 20, 2023 ctn_admin

On the heels of Jamaica’s strong recovery from the COVID-19 pandemic fallout, the 2023 forecast shows that the destination is on track to achieve 11% growth. Gross foreign exchange earnings for the 2023 calendar year are also forecasted to reach $4.12 billion USD, an estimated 13.3% increase on the previous year’s earnings.

The announcement was made at FITUR, the largest tourism trade show held annually in Spain. With thousands of participants each year, the fair is the global meeting point for tourism professionals and the leading trade fair for inbound and outbound markets in Latin America.

“Jamaica’s tourism is back, and our recovery continues to outpace our earlier projections. We are now in growth mode and to achieve this in double digits for this year is huge. It will mean more jobs and more earnings for workers and the island’s economy. Tourism is Jamaica’s lifeblood and driver of economic growth and the industry’s growth means the country’s growth,” said Hon. Edmund Bartlett, Minister of Tourism.

The projected growth is based on Jamaica’s primary markets registering growth over the previous period, with Canada strengthening its position to deliver 38.7% growth, the U.S. showing steady growth of 7%, and UK/Europe primarily demonstrating growth of 5.3% through the Eastern European markets.

“We could not achieve these successes without our partners. Our airline partners, tour operators, travel agents and so many more have contributed to the destination remaining top of mind and accelerating our recovery. The Jamaica Tourist Board’s focus on an integrated sales and marketing strategy, which is embedded in the pervasive use of new technologies along with a focus on new and emerging markets, has allowed the destination to leapfrog its own projections for growth,” said Donovan White, Director of Tourism.

Last year, Jamaica welcomed 3.3 million visitors and registered a remarkable recovery of earnings compared to pre-COVID earnings of 2019, with total estimated revenue of $3.63 billion USD. As the destination recovery has outpaced earlier projections, there is a high possibility that full recovery could be realized a year earlier than predicted.

For more information about Jamaica, go to visitjamaica.com.