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NCDA&CS Webinar: Business Opportunities in Jamaica
Story Date: 3/5/2020
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Source: NCDA&CS, 3/4/20
The United States is Jamaica’s largest trading partner, accounting for almost 40% of Jamaica’s total trade.Jamaica imported $2.6 billion of U.S. goods in 2018.
Jamaica is in a period of economic prosperity with GDP growing 2 percent in 2018, unemployment and public debt decreasing, and inflation staying low.
The country’s geographic proximity and historically strong links with the United States have encouraged a wide range of U.S. investors and exporters to enter the Jamaican market.
Best prospects sectors for U.S. exports include: Agricultural products, pharmaceuticals/chemicals, and machinery and transportation equipment remain important areas of demand in Jamaica. Opportunities also exist for products associated with road expansion, power generation, renewable energy, hotel and housing construction, the tourism sector, and business process outsourcing (BPO), and Infrastructure projects.
• The market has 2.8 million potential customers and $26.06 billion in GDP (purchasing power parity).
• Jamaica is ranked #1 in the Anglo-Caribbean in the 2019 World Doing Business Report.
• The Jamaican government is seeking to spend $500 million on improving its energy infrastructure.
• There are no restrictions on repatriation of profits and Jamaica has a double taxation treaty with the United States.
• Annual tourist visitors (> 4 million) outnumber the domestic population and offer a lucrative market for some goods and services.
During the Webinar you will hear from the U.S. Embassy in Kingston about the business opportunities in Jamaica. At the end of the webinar, you will also learn about ecommerce in the Caribbean region.
Click here to register for the March 12th webinar. Cost is $35.
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