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Jamaica needs to increase it’s “Hotel Room’s Capacity” to 90,000 by 2029, to double it’s GDP through tourism and agriculture to US$30 billion by 2030.
Along with tourism comes a whole rafter of other industries, including agriculture, taxi and minibus operators, restaurants, monetising of our arts and culture etc.
Agriculture is roughly 10% of Jamaica’s GDP and tourism is 30% of our GDP, which is a combined 40% of our GDP. If these two sectors are growing by 20% per annum, that will drag our overall GDP to 10% growth per annum over the next 10 years (if the other sectors don’t collapse but grow marginally).
With the current crime rate in Jamaica the country could go in either direction, improve and start to catch up with other Caribbean countries like Barbados, the Bahamas and Trinidad etc, whose GDPs per capita are about 3 times that of Jamaica. Or the country could fall back and become more like Haiti, which the prime minister of Jamaica oftentimes said he is trying to avoid.
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