Business View Caribbean | March 2020

9 BUSINESS VIEW CARIBBEAN MARCH 2020 A US$1 billion multi-resort development that will add approximately 4,700 new rooms in Jamaica’s tourism sector has broken ground. The project, Sugarcane Bay Jamaica in Llandovery, St. Ann, is being executed by Karisma Hotels and Resorts on a 226-acre property. The landmark investment will create 10,000 new permanent jobs, attract approximately 375,000 visitors annually to the island and generate $850 million yearly to the economy. The resort also represents the first major investment under the country’s ‘Shovel Ready’ Program. Prime Minister, Andrew Holness, said the investment is an indication of the robust growth in local tourism. “Significant investments have been made in the industry and these investments have been able to generate significant returns. Investors now know that investing in Jamaica is a profitable business,” he added. The Prime Minister said investors can also be assured that their investments are safe and secure, due to the strong economic policy in Jamaica. “So, you can be certain that whatever you invest here, will not be at the mercy of whimsical tax policy or other forms of regulations that could deplete or ruin your LANDMARK US$1 BILLION MULTI-RESORT DEVELOPMENT FOR JAMAICA OPENING L INES