Report of the Economic Growth Council
The tourism sector has long been a key pillar of the Jamaican economy. This sector, which generated over $32 billion towards the gross domestic product for the first three quarters of 2016, continues to expand and achieve major success.
Tourism has always been one of the key sectors of focus targeted by the Jamaica Promotions Corporation (JAMPRO) in its bid to drive economic growth. In working with investors, however, the general lament has been the bureaucracy and lengthy timelines around the development approvals processes.
To address this, in 2014, JAMPRO partnered with the Tourism Enhancement Fund (TEF) and National Environment and Planning Agency (NEPA) to develop and execute the Shovel Ready Investment Programme (SRIP).
SRIP’s objective is to identify both public and privately owned lands that are appropriate for tourism development, seek parameters for the type of development allowed, package and promote the properties to potential investors, and fast-track the development approvals process to speed up the investment cycle.
Leave A Comment