Jamaica’s Tourism Minister Edmund Bartlett is calling for the creation of a dedicated Caribbean Tourism Bank, urging the Inter-American Development Bank to champion a region-specific financial institution designed to support the unique needs of the Caribbean tourism sector.
Bartlett made the appeal during remarks at a luncheon held in his honour on Tuesday, April 7, following meetings with members of the IDB Board of Directors in Washington, D.C..
Addressing senior development finance officials, the Jamaican tourism minister argued that the Caribbean has long operated without an investment framework tailored to tourism — an industry he described as “the world’s fastest and most immediately convertible economic activity.”
“We think that the time has come for a regional financial institution dedicated to tourism in the Caribbean… a Tourism Bank where products can be crafted and developed, that are responsive to tourism’s demands and supply dynamics,” Bartlett said.
He also highlighted what he described as a persistent ambivalence toward tourism investment in the Caribbean, linking the outlook partly to historical and psychological legacies that have obscured the sector’s economic power.
Bartlett called for what he termed “psychological decolonisation” to reposition tourism as a sovereign economic driver capable of reshaping communities, creating quality jobs, and delivering transformative infrastructure.
“There is uncertainty. Some do not believe we are a stable enough industry — that we are too susceptible to disruptions… some even from the confusion of service with servitude. So there is a degree of psychological decolonisation [and it] is necessary to divest ourselves of those remnants of the past,” he said.
The minister emphasized that tourism is a transformative activity that continues to generate opportunities long after investments are made.
“Unlike several other industries that come and go, leaving only remnants behind, tourism continues to give life and energy to communities and provide livelihoods for people,” Bartlett added.
He pointed to the transformation of communities across Jamaica and the wider Caribbean, where tourism development has led to improved infrastructure, including roads, water systems, electricity, and expanded economic opportunities.
Bartlett also reaffirmed the commitment of the administration led by Andrew Holness to ensuring that tourism growth benefits ordinary Jamaicans.
“Tourism is a great vehicle to achieve that… with its wonderful catalytic properties,” he said.
In urging the IDB to take a leadership role, Bartlett noted that the bank’s regional presence, capital base, and development mandate position it to partner with Caribbean governments to build the financial architecture needed to expand tourism investment.
He expressed confidence that a dedicated tourism financing mechanism could accelerate private-sector investment, strengthen resilience against climate-related disruptions, and expand tourism’s contribution to sustainable growth across the region.
The proposal also aligns with Jamaica’s broader push for stronger regional financial institutions and comes as the country continues its tourism recovery following the devastation caused by Hurricane Melissa, which significantly impacted Jamaica’s western parishes in 2025.
