Jamaica - $500-million tourism sector investment

Near 3,000 new hotel rooms under construction in “massive wave” $500-million investment, says Jamaican Tourism Minister Dr. Wykeham McNeill

The 2.694 hotel rooms are part of new properties or hotel expansion in Negril, Montego Bay, Trelawny, St Ann and Kingston. According to Tourism Minister McNeill, the construction of the new hotel rooms will open 7000 jobs and almost 5000 permanent positions at the opening.

"This investment in new rooms is larger than any other in the history of the industry. What you have happening is people doing business in Jamaica being successful and investing in a real way", McNeill declared for the journalists, while pointing out that another 2.500 rooms are to be built by Chinese investors in the future.

The investment was possible due to strong partnership with the world's largest tour operator, TUI Group and Hotel Incentives Act tax break amendments, as Jamaica Tourist Board Chairman Dennis Morrison states: "The tax system that has been put in place meets a demand that has been made for many years of government. The new regime allows the operator to renew and refresh his property every three or five years, and they will tell you that is the biggest thing, because what you have done is take the taxes off their operating expenses."

Latest HIA amendments entitles more than 350 more rooms to income tax and import duty relief for an 11 to 15 years period.