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Chairman of the Economic Programme Oversight Committee (EPOC) Keith Duncan is calling for a "mindset change" among Jamaica's entrepreneurial class, pointing to opportunities in the economy that businessmen and businesswomen can take advantage of to bolster economic growth.
His calls comes amidst the Government of Jamaica forecasting a 1.6 per cent expansion of the gross domestic product (GDP) for fiscal year 2023/24 as growth returns to normal following recovery from the dowturn from COVID-19.
"As a country we would like to see this robust growth continuing, and we can exceed even the 1.6 [per cent growth]. We don't really want to get back into this range of 1-2 per cent growth," Duncan stated, questioning how Jamaica can "move out of the narrow, low-growth syndrome" that has plagued its economy.
Among the areas of opportunities for value-added growth he listed were manufacturing, logistics, agro-processing, and tourism.
Commenting on the tourism, Duncan said that Jamaica should be building on linkages in the tourism sector while developing the community tourism segment with the incorporation of bars and dances. Additionally, he said business owners should take advantage of the "new demographic" of black Americans who come to the island for experiential tourism.
"So we know that when tourism does well agriculture does well...entertainment does well, restaurants do well. So, therefore, tourism continues to drive the recovery of the Jamaican economy," he shared.
https://www.jamaicaobserver.com/busi...rivate-sector/
His calls comes amidst the Government of Jamaica forecasting a 1.6 per cent expansion of the gross domestic product (GDP) for fiscal year 2023/24 as growth returns to normal following recovery from the dowturn from COVID-19.
"As a country we would like to see this robust growth continuing, and we can exceed even the 1.6 [per cent growth]. We don't really want to get back into this range of 1-2 per cent growth," Duncan stated, questioning how Jamaica can "move out of the narrow, low-growth syndrome" that has plagued its economy.
Among the areas of opportunities for value-added growth he listed were manufacturing, logistics, agro-processing, and tourism.
Commenting on the tourism, Duncan said that Jamaica should be building on linkages in the tourism sector while developing the community tourism segment with the incorporation of bars and dances. Additionally, he said business owners should take advantage of the "new demographic" of black Americans who come to the island for experiential tourism.
"So we know that when tourism does well agriculture does well...entertainment does well, restaurants do well. So, therefore, tourism continues to drive the recovery of the Jamaican economy," he shared.
https://www.jamaicaobserver.com/busi...rivate-sector/
Paul Marin -19 is one thing, 20 is a whole other matter. It gets even worse if they win the UCL. *groan*. 
05/18/2011.MU fans naah cough, but all a unuh a vomit?-Lazie 1/11/2015