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Old November 10th, 2019, 12:57 PM
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Don1 Don1 is offline
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Join Date: Oct 2007
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Default Sum Ting Wong... Critical Thinking Required

Quote:
Originally Posted by Jangle View Post
Bartlett praises tourism workers
Tourism minister Edmund Bartlett has praised the more than 377,000 employees across the tourism sector for playing a vital role in Jamaica, which is now on track to secure more than a record four million visitors to Jamaica by year end.

“It is projected that by the end of this year, the island will welcome 4.303 million visitors and earn US$3.7 billion. That’s approximately 700,000 more visitors in the last three years and almost double the earnings in the same period,” Bartlett said.

http://jamaica-gleaner.com/article/n...ourism-workers
So the guy claims tourism income has "almost doubled" in a mere 3 years. Thanks in no small part to the calamities affecting our competitors since 2015.

Tourism has been JA's "leading industry" for 60+ years When a "normal* country's leading industry doubles income in a short period (and there's no calamity affecting other economic sectors) -- economic growth usually surges. In JA's case growth over said 3 year period remains tepid at <2%/year. That's where it was before this great tourism surge Here's why...

* The world economy has shifted dramatically from the 1960s when low-skill pursuits like tourism could significantly drive backward countries forward. JA is in a 21st century world economy but still structured as and wedded to 1960s-1970s thinking & practices

* As a now widely acknowledged low skill and low value adding industry - JA Plantation Tourism - which bottles up tourists (and their spending) in all-inclusive warehouses - has a relatively low economic impact (esp for a leading industry). This should now be clear - even to dummies

* Maintaining fat tourists in the lifestyle they crave in JA - requires enormous imported goods & services - leading to enormous FX outflows. Energy/Water processing/Capital Goods etc etc. Likely ~65% of tourism income is repatriated abroad. So tourism's economic multiplier effect is very low

* FX outflow issues also includes resort owners (being mainly foreigners & foreign-minded locals) who largely export their all-inclusive warehouse profits to Babylon economies. Their interest in JA is mainly profit-generation - definitely NOT JA development

Tourism is a vital industry in our low skill oriented economy.. JA's current economic structure might be adequate for the 1960s - 1970s ..maybe 1980s
For the 21st century JA has a pathetic economic profile esp with tourism still being the leader after 60 years.

The problem is - most are ignorant of this reality
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Last edited by Don1 : November 10th, 2019 at 01:22 PM.
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