By Robert Stephens, ContributorThis is the final in a series of articles on investment
opportunities in Jamaica.
THE VAST potential of Jamaica can be realised if we first agree on the visions for our development. Our visions of where we would like to see our country in the future are what motivate us to succeed and drive us into action. I would, therefore, like to present some visions for us to contemplate.
ENTERTAINMENT
Entertainment and entertainers are in abundance in Jamaica, but we now need to earn a more significant share of the potential of this industry. At least one entertainment centre needs to be developed, permanently set up with a stage, lights and linked to the Internet and the international television networks via fibre optic cable, to broadcast live shows worldwide.
Not only will this provide employment and economic opportunities for a significant number of local artistes but other key players in the entertainment chain. The potential foreign exchange earnings are also significant and can be as high as US$100 million per year.
ECO-TOURISM CENTRE
Jamaica has vast natural resources to develop a vibrant community-based eco-tourism product, which can rival the best in the world.
This area of tourism has received very little attention, however, from private or public sector investors. The lessons from Belize and Costa Rica are instructive and we need to recognise that today's tourists will pay a premium for genuine community experiences in pristine environs. We can earn much more by preserving and protecting our natural environs rather than cutting the trees down to clear land for houses or for marginal agriculture.
HEALTH TOURISM
Health tourism has received little attention in Jamaica but we do have excellent doctors, nurses and hospitals. Countries like Cuba and Brazil have developed and marketed their medical facilities and services to the North American and European markets, especially for cosmetic surgery and procedures requiring lengthy recovery periods. Not only does it cost less than in the developed countries but the convalescence is away from nosy friends and family, which is the reason so many visitors prefer to be treated overseas.
This is a tourism market with tremendous potential both for treatment of patients and the very attractive recovery, convalescence and retirement home markets.
TECHNOLOGY CENTRE
Jamaica has the potential to really become the information and communication technology centre of the Caribbean. The infrastructure is in place, the North American market is on our doorstep and we have an abundance of talented, trainable young men and women who can provide a wide array of services such as software development and front and back office support to a wide array of companies.
This area is showing great potential but training and selection must focus on both the technical aspects, as well as basic English. This is currently a limiting factor and points to the importance of learning to speak and write English correctly in school from as tender an age as possible.
SPORTING CENTRE
Our talent in sports is undisputed but we need to ensure that this is also translated into an economic engine for Jamaica. As with cricket and tennis, we should be aiming to have year round international events such as:
An IAAF-recognised athletic meet;
A youth football tournament for the Americas;
A youth basketball tournament for the Americas;
A major amateur and a professional golf tournament recognised by the PGA;
A hockey tournament;
A netball tournament.
Each of the above would not only build the standard of competitiveness of our teams but would also provide entertainment for local and overseas visitors and increase our foreign exchange earnings from tourism.
EXOTIC GOURMET
FOOD AND DRINK
The tastes and flavours of Jamaican fruits, spices and generally our food and drinks is world recognised, and demand is far outstripping supply but we are not really focusing on developing our capacity to take advantage of our assets in this area.
Every district in Jamaica needs its own version of Walkerswood. The tremendous success story of Walkerswood is still unfolding before us but we should emulate this and encourage other communities to come together to identify their own strengths and move to develop processing capacity for jams, jellies, juices, spices and gourmet end products all over Jamaica.
The Scientific Research Council and the Bureau of Standards would provide scientific, as well as processing and packaging guidance, training and advice.
Marketing should be provided under a collaborative effort guided by the Jamaica Exporters' Association (JEA). In this regard, a separate organisation under the JEA should be established to market these high quality Jamaican gourmet products under a national brand, which can demand shelf space throughout the world.
I am no authority on knowledge nor do I profess to be the only one with visions of a prosperous and wealthy Jamaica but I certainly hope that my thoughts will encourage others to express their visions and let us begin to pool our resources to focus on bringing them into reality.
Robert Stephens is the president of Pragma Consultants.
