Minister Bartlett Hails Sandals’ Investment in Jamaica

• Minister of Tourism Hon. Edmund Bartlett says Sandals International Resorts’ investment of US$240.0Mn in local projects is proof of the company’s belief and commitment to Jamaica. He noted that Sandals is taking the bold approach in reaffirming its belief in brand Jamaica and the future of the tourism sector. 
• The company has recently had the official opening of 84 new rooms and suites at the Sandals Royal Caribbean in Montego Bay, St. James, and has more projects in the pipeline. Sandals’ Executive Chairman, Mr. Adam Stewart disclosed that the 2021-22 local projects include next summer’s construction of a brand-new property to replace the demolished Jewel Runaway Bay, the completion of phase one of Sandals Royal Dunn’s River in Ocho Rios, and major expansion at Beaches Negril in Westmoreland. 
• The tourism sector has been experiencing recovery, as stopover arrivals from January to October 2021 was 1,088,969, this is up approximately 47.0% from the 740,827 for January to October 2020. Minister Bartlett has noted that total visitor arrivals are estimated to reach 4.5Mn, with gross foreign exchange earnings of US$4.7Bn by end 2021. 
• Sandals’ investment is expected to further support that recovery and is a  signal of its confidence in the sector which has the potential to influence the confidence of other investors. Notwithstanding, the spread of the Omicron variant could weigh on visitor arrivals as travel restrictions are imposed in some countries, thereby negatively impacting the recovery in the sector, at least for the short term.

(Sources: JIS News & NCBCM Research)