Investing in Jamaica
The eyes of the world are fixed on Jamaica for more than its appealing natural beauty and captivating culture. Global investor interest is high arising from the current efforts of the Government of Jamaica to position the island as the next global logistics hub, a move that has won the support of the local Private Sector of indigenous and multinational players.
The goal is to transform the Jamaican business landscape to accomodate more international players seeking to locate their operations to a pro-business destination that offers a strong competitive advantage through unique raw material inputs, strategic market access and lower operational costs. An added advantage is Jamaica's extraordinary track record and experience in accomodating large-scale global investments, primarily through JAMPRO, highly regarded as a leading investment promotion agency (IPA) in the Latin America and Caribbean (LAC) region.
Jamaica's diversified market economy has accommodated over US$6 billion in foreign direct investments (FDI) over the past 10 years and experienced a 66% in FDI growth in 2012, mainly attributable to expanding investments in Business Process Outsourcing (BPO) and Tourism. Investment opportunities also available in traditional sectors like Agribusiness, Mining, Energy and Manufacturing, as well as exciting areas like Logistics, Medical Tourism, and the Animation arts, one of the many expressions of Jamaica's rich Creative Industries.
To the global investor community, Jamaica is the third largest English-speaking country in the Western Hemisphere offering:
- Well-developed infrastructure with world-class highways, airports and seaports
- Robust and redundant telecommunications infrastructure
- Vibrant and stable democracy with elections held every five years
- Strong air connectivity – Frequent flights to major gateways worldwide
- Impressive sea connectivity – #1 transshipment port in the region
- Near shore advantage – Located within a 4-hour flight radius of 500 million people