The Manufacturing Sector Over the years, the manufacturing sector has been doing well in the Jamaican economy. This is due to essential areas such as agro processing and light manufacturing which should allow for the economy to continue its growth agenda. According to the Commonwealth Network Jamaica (2014), this sector has contributed approximately 8.4% of the country’s Gross Domestic Product (GDP) in 2008 and has been increasing since to further contribute to the development in Jamaica, as the sector also play a vital role in employment. This has resulted in 6% in employment rate in 2007. However in 2010, the manufacturing sector suffered a 2% decrease. In analyzing the industry, it can be noted that the manufacturing sector has funded …show more content…
Therefore, this market is a flourishing one especially being provided naturally with the resources like the beaches, trees and flowers etc. These are the resources that attract tourists most importantly. Investors, public and private sectors improve these environments by building hotels, restaurants etc providing more enhancement and attractions thus generating increased revenues through foreign exchange for the economy. Competitive Structure of Industry The Tourism industry in Jamaica is a very complex and broad industry offering a variety of services on the Jamaican market. It is a market which is driven mostly by disposable income. Possessing the natural resources as a contributing factor Jamaica is positioned in the market as a destination of variety. This is because the industry offers packages and services satisfying the needs and wants of customers where social grouping, lifestyle, budget, family and recreational services are concerned. The tourism industry in Jamaica has a complex value chain and network of services which serves to satisfy both domestic and international travellers on the large scale making it a very competitive one. Some of the major competitors in this industry are the private and public players in the various sub-sectors. Some of these include: • Food and Beverage Facilities • Accommodations • Ground Transport • Tourist Attractions • In bond
...are tourism, bauxite, textiles, and food processing. Jamaica also produces a lot of agriculture, such as sugarcane, bananas, coffee, and citrus.
Jessen, Anneke, and Christopher Vignoles. Jamaica: Trade, Integration and the Quest for Growth. Buenos Aires: Institute for the Integration of Latin America and the Caribbean, 2005. Print
Various definitions of tourism exist. Tourism is defined by Macmillan Online Dictionary as the business of providing services for those people travelling for holidays. Tourism has experienced continued growth over the years and diversification and has become one of the fastest growing economic sectors in the world. For countries like Australia, it has become one of the major contributing sectors in the economy generating large proportions of the national income and at the same time increase employment opportunities. The future is still bright for the industry in the country with possible future growth in expansion and diversification. The industry however has both the pros and cons impacts to various ranges of environments (Tourism Research Australia).
The tropical island of Jamaica has a mixed, free market economy. The country has state-run as well as privately-run businesses. According to executiveplanet.com, the Jamaican government has pursued “a program of economic liberalization and stabilization through the removal of exchange controls, reduction of tariffs, stabilization of local currency, and by reducing inflation and removing restrictions on foreign investment.” In short, Jamaica wants to become more involved in the world market. This offers a unique opportunity for trade agreements and business contracts to be made with Jamaican companies.
A way to measure a country’s economy is to look at its gross domestic products. This tells the total value of the goods and services that a country produces. In Jamaica, the economy has always been the main problem for the people. It is based primarily on agriculture, tourism, and bauxite mining. The country is very dependent upon tourism, its main source of foreign exchange. Bauxite mining is the principal source of revenue for the country. Most people do not have the opportunity to go to school and also there are not enough jobs for everybody. On the contrary, the United States is wealthiest in terms of economy. They have abundant natural resources, a well-developed infrastructure, and high productivity. Moreover, people have more chances of going to school, and there are more job opportunities for those who graduate as
Another aspect of the culture of Jamaica is the Colors. Jamaican people use the mixture of colors as a way of expressing the reality of the country, and this mixture was a necessity for many years. For example, in 1950 the only children that had access to Jamaican school were the white people and the best jobs were denied to black people, and therefore, a lot of mothers sought to whiten their children in order to give them a better life. Tourism in Jamaica also operates in a relevant manner, because of the beautiful beaches that the country has, a lot of people feel attracted and want to spend their vacation in Jamaica. Therefore, in order to satisfy the visitor needs, Jamaica provided to deliver great tourism potential investments in infrastructure such as hotels, transport system, and communication.
Through a brief history, to a look into the present day culture and society of Jamaica my fascination with the island bares true meaning. I proudly support American tourism through Jamaica in hopes of fueling the struggling economy. Speaking form experience Jamaica is an island filled with deep cultural roots in a growing society of unique natives. Reggae music proudly defines its people, culture and tropical land. In time my plans to return to the tropical paradise stand strong. Whether you’re a rigid woodsman or the delicate resort type Jamaica will enlighten your mind and sooth your vacationing needs. “One love, one heart, come to Jamaica and feel alright”, is a quote that displays the easy going free spirits of Jamaican people. One cant help to leave the island without saying “yeah mon”, while feeling the Jamaican’s “ don’t worry, be happy” attitude towards life.
The Jamaican economy benefits vastly from migration baring the fact that it’s most skilled set of people prefer to seek jobs in other countries rather than in their own. Once their citizen start working investment becomes an option to set up businesses, schools and hospitals, so over time the economy will grow and become more productive. Families also benefit from this in a sense that if it were not for migration poverty and unemployment would be prevalent. Jobs are vastly created because of the excess funding being deposited in the Jamaican economy. The gains from this in turn boost the economy and from this training programs and institutes to educate our youth and make our country more environmental friendly are
The Hospitality and Tourism sector is characterized as the fastest growing sector in Jamaica. Many tourists from all over the world travel each year because of the country’s beaches, culture, climate and landscape. Despite the contribution of other sectors the Hospitality and Tourism is still the giant industry that contributes largely to Jamaica market share. In this paper, we will call the Hotel that I am employed ‘Hotel A’ for privacy reasons. Hotel A was formed in 1981and has developed to be one of the largest all-inclusive resorts in the country, tackling all factors that impact on its overall success. Some of these factors are political, economic, social, technological environmental and legal factors called the PESTEL framework. “A
Factors such as labor shortages have also caused serious changes in labor patterns. It is unfortunate that tourism by members of countries such as ours has caused certain areas to become impoverished creating a lack of balance by boosting the economy of sectors with heavy commercial industry. However, not all tourism and migration is necessarily a bad thing. To quote the article: Other intra-east Indian Caribbean migrations from Guyana to Antigua and St. Kitts where immigration and work contact policies have been more welcoming. Despite the article speculating about various circumstances which cause migration, the article boils these factors down to six major theories, as the article addresses: Pull Factors, Push Factors, Relative Deprivation, Networking and Linkages, and the Iron Law of Labour migration, all of which I shall unpack
It is the economic effects of tourism which bring the most benefit to the host nation. Tourism is a low import user which means more of the money earned here stays here. The government is earning money through tourist taxes such as the airport tax, increased export earnings and income tax revenue from people employed by the industry. A balance must be struck between these benefits and associated negative impacts on the community and the environment.
1.2 Problem Formulation In the problem formulation part of my report I would describe the overall situation of the U.K Tourism industry. The service concept of “Simply Travel” will give us information about the services provided by the company. I will find out about the customers, competitors of the company. I will find out what political, economical, social and technological factors affecting the company and its demand situation.
According to the ‘World Tourism Organization’ (UNWTO), the tourism industry is one of the fastest growing sectors in the world, as it is estimated that by the year 2020, 7.8 billion people (roughly a quarter of the world’s population) will embark on a foreign trip (Bennett & Gebhardt 15). The Caribbean is said to be the most economically dependent on this industry, as the ‘Caribbean Tourism Organisation’ states that the industry forms the “economic backbone of most countries in the Region”(“Caribbean Tourism Industry” 1), implications for what tourism’s affect on the region have arisen and have prompted further research into matter. Since the 1970’s research regarding tourism in the Caribbean has attempted to determine the social, cultural, environmental, and economic impacts of tourism. Much of the research has found that there are in fact many negative adverse affects, and Jackson’s article asserts that, “Governments often commit money and other resources to support the growth and development of tourism and often turn a blind eye to its negative impacts” (574). The reason why tourism looks attractive (and thus turn a blind eye) to these Caribbean countries is because of “its potential to foster GDP growth, to create employment, to increase foreign exchange earnings, and attract capital investment” (Daye, Chambers, and Roberts 2). This paper will overview such impacts by first discussing a case study conducted in Jamaican resort town, Ocho Rios, with Sheere Brooks discussing the observed social, cultural and economical consequences of Jamaica’s reliance on the tourism industry and will finally look at tourism in relation to capitalism, with Robert Fletcher suggesting in his article that the tourism industry (and more specifically...
"Overview of Trade." Trade Reference Centre - Jamaica. N.p., n.d. Web. 17 Nov. 2013. .