History Of Trade And Tourism In Jamaica

Up to the l950s, Jamaican exports were entirely agricultural. This is a very important statistic as this was how trade restrictions protect jobs in Jamaica. So as to show the change that has taken place in the economy since then, the following table shows the agricultural and non-agricultural exports separately for the early 1970s. This lead to a plethora of trade unions in Jamaica. Chief agricultural exports include Sugar, rum, molasses and bananas. Other major non-agriculture exports include bauxite, alumina and other manufactured goods.

Exports 1970.
Mainly because so much of the bauxite and alumina was sent to the U.S.A. and Canada, 60% of the total exports went to those two countries. Exports to Britain and CARIFTA countries amounted to 24 % and 3 % respectively. The proportions of imports were very similar. It is always important to note that it is due to low production levels why the international trade is important to Jamaica.

A country which relies heavily on trade must always watch its ‘balance of payments’, that is it must be careful not to spend more on imports than it earns from exports and other sources of income (such as tourism and the returns from overseas investments). The problem of maintaining the balance has been difficult for Jamaica.

One reason for this is that much of the economic development that has been taking place has depended on import Thus the bauxite and alumina companies have h to import a great deal of machinery to dig bauxite and to equip their factories, and farmer have had to buy agricultural equipment to replace labor in the fields. But in addition, the growing population and, for some, a rising standard of living has resulted in an increased demand for imported food stuffs and for cars, refrigerators, television set and many other manufactured goods.

To prevent the demand for imports from getting out of hand and to encourage the use of locally made products some imports are being heavily taxed. Some good are not allowed into the island at all.

History Of Tourism In Jamaica
Tourism in Jamaica goes back for many years, and Montego Bay has long been famous as a holiday resort. It is not the only one however. In recent years luxi1ry hotels and resort cottages have been built close to many of the white sand beaches along the north shore, and Ocho Rios has grown to rival Montego Bay in importance. There are several economic benefits of mass tourism in Jamaica including a massive sure in employment levels and the multiplier effect that this can have.

In 1972 over 400,000 tourists visited the island. Most travelled by air, landing at Montego Bay or Kingston, but some were passengers on cruise ships calling at the same two towns. As 80% of the visitors are Americans, tourism is a valuable source of U.S. dollars. Despite that fact there has been a tourism negative impact on biodiversity in Jamaica.