Find Economic Development expertise in Jamaica

Jamaica did not register any growth in GDP from 2006 to 2010 largely due to damage caused by Hurricane Ivan in 2004 and Hurricane Dean in 2007 which was followed up by the global recession.

The World Investment Report (2010) recorded that Jamaica received USD201 million in foreign direct investment (FDI) which, compared to 2008 and 2009 which recorded inflows of USD541 million and USD1.4 billion respectively, is the lowest figure for many years. There are a number of economic development initiatives in Jamaica, many of which are strongly supported by online platforms. For example, the Rural Economic Development Initiative aims to improve market access for micro agricultural producers and small-scale rural tourism service providers. The main objective is to strengthen the capacity of relevant national organisations to ensure the sustainability of rural enterprises in Jamaica.

According to the World Economic Forum’s ‘Global Competitiveness Report’ 2011-2012, Jamaica was ranked 70th out of 142 countries when assessing the extent to which FDI brings new technology into the country. It scored above average with 4.7 out of 7. Similarly, Jamaica scored highly in the assessment of the extent to which rule governing FDI encourage or discourage it, recording a score of 4.8 (0.3 higher than the world mean). It was ranked 57th out of the 142 countries.

Economic Development Agencies organisations in Jamaica
Jamaica Trade and Invest (JAMPRO)
Management Institute for National Development