KINGSTON, Jamaica — Scotiabank Jamaica has invested $7.2 million into the upcoming Caribbean Travel Marketplace, a partnership that allows the Jamaica Tourist Board (JTB) to open the doors for participation of small and medium tourism enterprises (SMTE) in the sector.

The event, which is slated to begin today and end on Thursday at the Montego Bay Convention Centre in St James, offers industry players the opportunity to meet face-to-face with Caribbean hospitality and tourism suppliers.

Caribbean Travel Marketplace is the largest and longest-running marketing event in the region.

Commenting on the investment, Scotiabank President and CEO, David Noel said: “We are proud to be associated with this event which will help to grow the tourism industry, one of the main contributors to the Jamaican economy. Scotiabank has been involved in financing tourism infrastructure across the Caribbean and we remain committed to the sustainable development of the sector.”

For his part, Director of Tourism at the JTB, Donovan White said, Jamaica hosting the event “gives us an opportunity, to put Jamaica on show – our culture, our natural assets and products while bringing tourism buyers, sellers and suppliers together in one place. Being able to engage Scotiabank to be a partner in all of this, gives us an ability to open the window of opportunity for the SMTE”.

Minister of Tourism Edmund Bartlett, who was at the official signing, agreed, noting that: “Investing in our local cultural assets is a key part of building out our capacity to supply the demand of tourism, and if we are able to do so, then we are going to be one very wealthy country because of tourism.”

“We thank Scotiabank for coming on board,” Bartlett continued.

Scotiabank, in a statement yesterday, said its involvement in the tourism sector has been primarily as financial supporter for numerous large scale tourism industry entities, while also providing merchant services to business across the industry.

In early, 2018 the bank demonstrated their commitment when they partnered with the MBJ Airports Limited on a US$40-million loan (J$5-billion) used to make essential improvements to the airport’s facilities.

This is the 37th staging of the Caribbean Travel Marketplace, and marks the third time that Jamaica hosts the event.