King, Stewart spar over tourism’s worth to economy

[Jangle]

Controversy is brewing over the real value that the tourism sector adds to the overall economy.

Economist Dr Damien King suggested that the second-quarter data on the economy’s performance during the COVID-19 pandemic were proof that tourism did not contribute as much as one-third of the economy, as was previously thought.

But deputy chairman of the Sandals Group, Adam Stewart, suggested that King’s mathematics was simplistic and did not take into account other realities.

According to Stewart, many workers in the sectors continue to be paid while receivables are still being collected in the sector.

http://jamaica-gleaner.com/article/l...-worth-economy

[Reggaedoc]

Originally Posted by Jangle

Controversy is brewing over the real value that the tourism sector adds to the overall economy.

Economist Dr Damien King suggested that the second-quarter data on the economy’s performance during the COVID-19 pandemic were proof that tourism did not contribute as much as one-third of the economy, as was previously thought.

But deputy chairman of the Sandals Group, Adam Stewart, suggested that King’s mathematics was simplistic and did not take into account other realities.

According to Stewart, many workers in the sectors continue to be paid while receivables are still being collected in the sector.

http://jamaica-gleaner.com/article/l...-worth-economy

An economist's mathematics is simplistic?. Receivables are still being collected by hotels that never had guests?. It would be interesting to hear these explained in detail.

[Rockman]

Stewart has vested interest in propping up the importance of the Tourism Sector. to our economy. It appears the dip in tourists arrival is not too detrimental to operational cost, what is missed is the huge profits designated for the pockets of top players.