KINGSTON, Jamaica — Tourism Minister Edmund Bartlett, has announced that to date, approximately $5.6 billion has been collected by the Tourism Enhancement Fund (TEF). This figure represents a 13.54 per cent growth compared to the same period last year and a 15.68 per cent increase compared to the corresponding period in 2019.

According to a release from the ministry on Thursday, these funds are generated through the US$20 fee for incoming airline passengers and the US$2 fee for cruise passengers, directly contributing to the Consolidated Fund.

Projections for the full fiscal year, spanning April 2023 to March 2024, shows an estimated total collection of approximately $9.3 billion, signalling a 14.98 per cent increase over the last financial year and a 14.89 per cent rise compared to 2019.

“The TEF is on a record path for this fiscal year and is now projected to bring $9.3 billion to our revenue, which is 1.2 billion more than the last fiscal year. That represents almost 15 per cent more than our best year, 2019,” Bartlett said .

This news, the ministry indicated, aligns with the recent economic report from the Planning Institute of Jamaica (PIOJ), which revealed an estimated 1.9 per cent growth in the economy during the July–September 2023 quarter compared to the same period last year. The hotel and restaurants industry experienced a notable real value-added growth of eight percent during the quarter.

“The tourism industry, a vital contributor to this economic growth, continues to flourish with increased foreign national arrivals. For the mentioned quarter, stopover visitor arrivals surged by 5.5 per cent to 682,586 visitors. While cruise passenger arrivals experienced a modest decline of 20.5 per cent, totalling an estimated 178,412 visitors compared to the corresponding quarter in 2022,” the release read.

“The tourism industry continues to make positive contributions to GDP expansions in the economy. The 10th consecutive quarter of growth was realised, in fact, in the 3rd quarter of this year, when tourism’s contribution to GDP was 7.8 per cent. This positive trend is not only in terms of direct contribution to GDP as reflected in the PIOJ reports but is also in terms of direct revenue that goes into the consolidated fund,” said Bartlett.

The ministry further noted that as Jamaica positions itself as a global tourism hub, these financial achievements underscore the confidence and support the TEF receives from both visitors and industry stakeholders.

Dr Carey Wallace, executive director of the Tourism Enhancement Fund, expressed enthusiasm over the positive trajectory.

“The continued growth in our collections is a testament to the resilience and appeal of Jamaica as a premier tourist destination. The funds generated will contribute significantly to the ongoing development and enhancement of our tourism sector and Jamaica in general,” he said.