Jamaica must move decisively towards developing a luxury tourism market to sustain its position as a global travel destination and maximise economic returns, says Tourism Minister, Hon. Edmund Bartlett.
He made the call while addressing the Branded Residence Conference at the Montego Bay Convention Centre in Rose Hall, St. James, on December 4.
Mr. Bartlett said it is time for Jamaica to “pivot” towards luxury tourism and move beyond the well-established all-inclusive resort model, to capture the lucrative high-end visitor market.
“We really haven’t done enough to create that luxury tourism experience with the kind of infrastructure and investment that is required for it; equally, perhaps the type of legislative and regulatory arrangements that surround the luxury experience,” he noted.
“So, what I’m telling you… is that, in the new approach that we’re looking at, we’re going to pivot to the [luxury tourism experience],” Minister Bartlett added.
Luxury tourism represents a distinct and lucrative segment of the industry. It is characterised by premium accommodations, personalised services and exclusive experiences that attract affluent travellers.
These visitors, according to Mr. Bartlett, spend significantly more than traditional tourists, up to seven or eight times the local average, providing a powerful stimulus for economic growth.
He said this approach promises to stimulate multiple economic sectors, from agriculture and manufacturing to transportation, entertainment and attractions.
“So when you look, now, at the luxury side of tourism, that propensity to consume now moves up, not just in terms of quantity, but in terms of quality and, of course, it attracts a higher price and therefore a higher return,” Mr. Bartlett explained.
Jamaica ranks among the top 10 countries globally for all-inclusive resorts, with visitor numbers doubling from under two million in 2016 to over 4.3 million today, generating approximately US$4.5 billion in revenue.
Mr. Bartlett emphasised that key to this transition is the development of infrastructure that meets the expectations of high-net-worth travellers.
He pointed out that developments, such as Pinnacle, a luxury residential project spearheaded by LCH Developments, signal Jamaica’s readiness to enter the global luxury market.
For his part, Chief Executive Officer of LCH Developments, Yangsen Li, described Pinnacle as “a new palladium for Caribbean luxury living.”
He added that beyond providing high-end residences, the project integrates community development and environmental conservation which showcases how luxury can align with sustainability.
“Branded residences have become the gold standard for sophisticated investors and homeowners,” Mr. Li pointed out.
