Tourism will be Jamaica's biggest driver of economic growth

[Assasin]

What economic platform was set to achieve what they have? debt up our wazzu, absolutely no growth and our credit rating in the dumps??? You are the one who need to be honest.

[Sir X]

1st off yuh worried , 2nd I want a higher standard ( anti corruption ) and 3rd Andrew Holness JLP built on the platform of others and others will build on his. What did I tell you about honesty .

[Assasin]

Election are made to win and lose. That don't worry me too much. What I am greatful for is the good management of the economy and growith. If Andrew should go today he has done a good job with the economy and leading Jamaica through the Covid years and rebuilding after. Whoever come next need to be held to the same standard and make sure our economy is not where it was and continue to prosper. Inflation as you should know is not his fault as the Ukraine war rages and every country continue to deal with it. Despite that and Covid he has held the dollar relatively stable, Inflation in check, our reserves at record level, our debt is more than manageable and an economy with prospect of growing (something we have not seen in a very long time).

[Sir X]

Press releases are not completed projects e.g .The X corporation jjust purchased an acre of land and plans to construct a 10 million USD gated apartment complex .

Yeah , like when . Sorry boss if the proposition of your presentation is clownish and I point it out to you , repeatedly it's faults , you fail to address's it with honesty , then what other choice do I have but to label you two as clowns.

I could think of harsher terms, especially when you respond to my post with nonsense. Or in Jangles case,as with his recent use of my post to justify his agenda.

BTW : I was wrong in my post which Jangle used to justify his agenda, people are turning against the JLP because corruption and inflation is an issue, the vehicle of change is rage.

[Jangle]

Jamaica's short-term rental, Airbnb markets boom

Jamaica's short-term rental and Airbnb markets are experiencing a boom, realtors say.

What's more, the demand shows no sign of abating anytime soon.

Resort towns account for a large percentage of the demand for short-term rentals, while the high-rise apartments of Kingston see numerous requests for Airbnb.

Anyone driving around Kington in the last few years would have noticed several apartment complexes going up. Due to the high cost of land, people have to build vertically, evidenced by the landscape across the Kingston Metropolitan Area (KMA).

“They are actually a perfect Airbnb product, so there is a great demand for it,” RE/MAX Elite’s Anya Kerr-Jarrett told Loop News, a point also echoed by Century21’s Deborah Cumming and Coldwell Banker’s Kaili McDonnough Scott.

https://jamaica.loopnews.com/content...b-markets-boom

[Assasin]

"Ask Jangle if there has been a downturn in his market, more specific to Jamaica , there has been a downturn,prices have dropped, building has slowed down and sales are not as robust. That said it doesnt mean there will be a recession as predicted and only a fool would rule one out!

Did you rule it out "

You were predicting a down turn. It is not about ruling one out. There has been no significant drop in real estate in Jamaica.

It is fine to make your prediction but when you do you don't argue with others and call them names as a prediction is just that, not facts.

[Jangle]

Labour shortage: Employers ponder importing workers or increasing pay

With an unemployment rate of six per cent, the lowest in the country's recent history, Jamaican employers are facing a labour shortage.

To address this, some businesses are considering importing labour from abroad or increasing salaries to retain highly skilled workers.

At the Private Sector Organisation of Jamaica (PSOJ) President's Forum on Tuesday, April 4, PB Scott, Chairman and CEO of the Musson Group of Companies, suggested that Jamaica must import labour or seriously commit to education and training to compete with neighbouring countries such as the Dominican Republic and Guatemala, which have larger and growing populations.

The forum was held under the theme: “Let's Get Serious About Our Logistics-Centred Economy and Special Economic Zones”.

Prime Minister Andrew Holness has previously expressed concern about the labour shortage, hinting that sectors such as tourism, construction and quick-service restaurants may have to import workers to fill vacancies.

https://jamaica.loopnews.com/content...increasing-pay

[Jangle]

Cement sales hit record levels in 2022 despite supply-chain challenges

Caribbean Cement Company Limited, which sells to some 90 per cent of the local market, recorded revenues of $25.8 billion, representing a growth of 8.0 per cent compared with 2021.

After factoring in expenses, the group netted $5.4 billion in profit for its year or about one-quarter more than the $4.3 billion in 2021.

Operationally, management grew its gross profit margin to 44 per cent from 41 per cent in 2021.

This happened: “despite the global supply chain challenges that resulted in increases in freight charges”.

Carib Cement also weathered the disruptions caused by the Russia-Ukraine war, which led to price increases in several commodities, including oil and gas.

https://jamaica.loopnews.com/content...ain-challenges

[Jangle]

FirstRock breaks ground on $2.5-billion apartment tower

Real estate investment company, FirstRock Real Estate Investments, has officially broken ground on a $2.5-billion residential apartment tower on Brompton Road in the heart of New Kingston.

The development, dubbed Bonne Chance, is FirstRock’s second in Jamaica, with another two slated to commence this year.

The Bonne Chance development will feature a 10-storey high-rise building, housing 43 units with 31 studios and 10 one-bedroom apartments.

It will also feature two two-bedroom penthouses, ranging from 1900-3000 square feet.

https://jamaica.loopnews.com/content...partment-tower

[Jangle]

Norbrook investing US$75 million in luxury real estate projects

Norbrook Realty Limited (Norbrook), a real estate company founded by Khary Robinson, has announced three major development projects, creating over 250,000 square feet of luxury commercial and residential properties in Jamaica.

The projects, which will see Norbrook investing over US$75 million across them, will also include a commercial tower in Kingston and two luxury beachfront communities in Ocho Rios.

“For years, we observed the real estate industry and, like any of our other business lines, we spent time and effort to understand the market and identify gaps, said Khary Robinson, executive chairman of Norbrook Equity Partners.

Robinson said Norbrook strategically accumulated parcels of land, formed partnerships with proven industry experts, and developed a unique product set for a niche market.

https://jamaica.loopnews.com/content...state-projects

[Sir X]

Ask Jangle if there has been a downturn in his market, more specific to Jamaica , there has been a downturn,prices have dropped, building has slowed down and sales are not as robust. That said it doesnt mean there will be a recession as predicted and only a fool would rule one out!

Did you rule it out

[Assasin]

So mi nuh think there would be a real estate downturn by now based on the expert prediction and we were headed for recession? LOL!!!

[Sir X]

Yeah , I believe him ,tell him I am waiting for the bridge he sold me 6 years ago

[Jangle]

Holness says J’cans will benefit from economic growth within two years

As Jamaicans continue to complain about not feeling the effects of the country's economic growth, Prime Minister Andrew Holness is forecasting that within the next two years or less, citizens should start feeling those benefits.

"I guarantee that within a year or two, we will start to feel the economic effect of the recovery on the individual household," declared Holness in his remarks at the recent launch of Red Stripe Cellars Expansion for Beer Production (CERS) project at the company’s Spanish Town Road, St Andrew plant.

He gave the assurance that the benefits would flow through the economy so that persons will realise the effects of the Government's economic management and the strong recovery from COVID-19.

https://jamaica.loopnews.com/content...thin-two-years

[Sir X]

If all you have is tourism , then of course it will be the driver , its been doing that from the 60s. God help us if it is for another 60 years. Real estate is a signature sign of the health of an economy, that doesnt mean the masses percieve it to be healthy. E.g the sale of houses might be brisk , but unaffordable to the majority or salaries are not on scale to match it, same for rentals. We need to diversify into.

Jamaica in the low-tech trap

https://jamaica-gleaner.com/article/...-low-tech-trap

https://jamaica-gleaner.com/article/...opmental-state