Airbnbs generate over US$100M for Jamaican economy
Key Points(5)
- More than US$100 million in earnings was generated for the Jamaican economy last year through the provision of local Airbnbs for overseas visitors.
- This is according to Tourism Minister Ed Bartlett, who stated that approximately 500,000 of the 2.6 million tourists making stopover visits to Jamaica in 2022, chose to stay in Airbnbs, as opposed to other types of lodgings.
- Bartlett described the out-turns as “exciting" for Jamaica, given that ordinary Jamaicans have been able to earn a living from lodgings in the tourism sector.
- "The reality, in terms of revenue, is that just a little over US$100 million of actual earnings went into the pockets of these ordinary Jamaicans who have been part of the shared economy.
- That's exciting for us because what that is doing for us is it is broadening the tourism value chain and enabling more and more of the Jamaican people to benefit from tourism and for a larger level of retention of the tourism dollar into our economy," Bartlett said.
More than US$100 million in earnings was generated for the Jamaican economy last year through the provision of local Airbnbs for overseas visitors.
This is according to Tourism Minister Ed Bartlett, who stated that approximately 500,000 of the 2.6 million tourists making stopover visits to Jamaica in 2022, chose to stay in Airbnbs, as opposed to other types of lodgings.
Bartlett described the out-turns as “exciting" for Jamaica, given that ordinary Jamaicans have been able to earn a living from lodgings in the tourism sector.
"The reality, in terms of revenue, is that just a little over US$100 million of actual earnings went into the pockets of these ordinary Jamaicans who have been part of the shared economy. That's exciting for us because what that is doing for us is it is broadening the tourism value chain and enabling more and more of the Jamaican people to benefit from tourism and for a larger level of retention of the tourism dollar into our economy," Bartlett said.
He noted that this year has seen even more growth within the segment.
"Twenty-nine percent represents 400,000 500,000 people who would have come through that channel last year. I'm seeing an uptick, so at a later point, I will be able to share with you what the numbers are for 2023," the minister said.
Regulations coming for Airbnbs
The minister also noted that given the lucrative nature of the Airbnb business, the government is now discussing ways to regulate the segment, which will include proper licensing and other strategies.
Bartlett said he wants Airbnbs to be "integrated into the formal system."
"The development of this particular business model and also this broader layer of economic activity, like everything else, will have to get into the formal system. Because, for one, the destination assurance strategy that we are embracing has to ensure that the visitor who goes anywhere in Jamaica is safe, secure, and has a seamless experience," the minister said.
"So we have to look now at the licensing regimes that are going to have to become a renewed feature of the tourism experience. And only yesterday I started a major discussion with the Cabinet around the issue of looking at the Tourism Act and to review various areas of it. I think that we will be reviewing all the models we are embracing now and the physical landscape will have to reflect the models that are in tourism," he added.
Jamaica seeing record number of visitors
Meanwhile, the minister was elated to announce that after a period of inactivity in 2020 due to COVID-19, the sector has fully rebounded, and now recording record numbers.
In terms of visitor arrivals, Bartlett unveiled that by the conclusion of August, Jamaica received a total of 2.7 million visitors, the island's most robust summer season in recorded history.
This surge in visitation has led to an impressive US$3.1 billion in earnings.
“This is the first time in our history that we have broken the US$3-billion mark before the ninth month of the year, as we did that at the end of August,” he said.
Bartlett also advised that Jamaica has secured 1.1 million passenger seats from across the globe for the fall 2023 season. This represents the largest number of seats ever for the fall season in Jamaica.
The minister said he believes the industry is perfectly poised to reach the US$4 billion revenue mark by the year’s end, setting a new record for Jamaica.
Bartlett said the visitor arrivals and earnings projections are "a testament to the resilience and unwavering appeal of the island’s tourism product ..."
