While the orange and green economies continue to command national attention, two other emerging sectors—the silver and blue economies—are steadily gaining momentum. These sectors hold the potential to drive inclusive and sustainable economic growth in the coming years.

The silver economy, which centres on the needs and contributions of older citizens, is becoming increasingly relevant as Jamaica’s population ages. By 2025, data from the Ministry of Health and Wellness suggest that approximately 17 per cent of Jamaicans will be aged 60 and over—up from 12 per cent in previous years. Globally, the senior population, also in expansion mode, is projected to reach 1.4 billion by 2030, representing a 40 per cent increase, the highest seen within a decade.

As this demographic shift presents both challenges and opportunities, the Jamaican Government, in partnership with international agencies, is advancing a development agenda to respond to the changing age structure — especially as projections suggest that, by 2058, older adults could outnumber youth if current birth rate trends persist.

Globally, the silver economy generates an estimated US$22 trillion annually. In countries like Argentina and Colombia, it contributes up to 40 per cent of gross domestic product (GDP). In Jamaica, the aging population wields growing economic influence through pensions, health-care demands, and rising consumer spending. An OECD report highlighted that seniors are spending more — especially on travel, leisure, and wellness — than younger adults.

Professor Denise Eldemire-Shearer, aging expert and chair of the National Council for Senior Citizens, underscored the economic potential of older populations during a recent interview with the Jamaica Observer.

“The majority of people over 60 own homes, pay taxes, and many are still working. There’s real business potential here, from special food and clothing to home care services. Caring for seniors is becoming a profession, creating jobs and supporting the wider economy,” she said.

Globally, experts have been calling for a shift toward home and community-based care with a view to boosting access to home healthcare, caregiver support, and senior-friendly community programmes that are all vital to promoting active, independent aging.

In line with these trends, Jamaica is currently strengthening protections against elder abuse as it expands geriatric health-care infrastructure.

Minister of Health and Wellness Dr Christopher Tufton, in his budget contribution in Parliament, confirmed the Government’s commitment through the development of a Health Programme for Older Persons Plan which seeks to support healthy aging.

“This shift underscores the need to prepare for an ageing population and adapt societal structures — including the workforce and health-care systems — to address the evolving demographic landscape,” he said.

Professor Eldemire-Shearer welcomed the growing recognition of the silver economy but stressed the need for mindset shifts and greater inclusion:

“There’s still a lot to do to help those under 60 see the value of those over 60. We’re not just talking about retirees; we’re talking about nearly 400,000 Jamaicans who contribute in various ways — caring for grandchildren, helping with school pick-ups, and saving working parents time and money.”

She further said that while private sector engagement remains uncertain, segmenting the economy with colour-coded designations like the silver economy is a strong first step. “It allows us to better organise and track impact, especially when seeking international funding. Each colour gives us clarity—though ultimately, we’ll need to come together under a unified economic strategy.”

The blue economy, on the other hand, offering a sea of opportunity, currently consists of important sectors such as tourism, marine and other aquatic products. Tourism, which has overtime emerged as a pillar of Jamaica’s blue economy, contributes significantly to both GDP and employment. Offering diverse experiences, including cultural heritage tours, adventure tourism, and ecotourism, Jamaica attracts millions of visitors annually and billions in spend. Aside from remittance inflows, this sector accounts for the largest share of foreign exchange in the country.

As the country works to develop the blue economy, the Planning Institute of Jamaica (PIOJ), in building out a road map for this area, said it offers great potential for economic diversification.

“In a context where Jamaica must seek new economic opportunities to boost shared prosperity, the blue economy offers the prospect of both strengthening existing growth drivers (tourism, fisheries) and allowing new industries (bioprospecting, maritime transport) to flourish. The blue economy can also play a critical role in helping Jamaica respond to the threats posed by climate change. With careful management, the benefits of the blue economy can be directed to some of Jamaica’s most vulnerable populations,” a report by the agency noted.

Beyond tourism, Jamaica also serves as a leading hub in the Caribbean for maritime logistics. This, as its ports continue to handle more cargo than any of its regional counterpart. Prior to the COVID-19 pandemic revenues from cruise tourism stood at US$244 million in 2017-18. Ongoing initiatives in the Special Economic Zones (SEZ), along with the upgrading of the port also seek to capitalise on the trade and business opportunities that will emanate from the expansion of the Panama Canal.

“The ocean economy supports millions and underpins some of the world’s most critical industries. From maritime shipping which carries 80 per cent of global trade, to undersea fibre-optic cables that transmit 95 per cent of international data, the ocean is deeply embedded in our societies and daily lives but opportunities in this areas remains largely untapped.Based on projections, these industries have the ability to generate more than US$3 trillion annually by 2030,” head of ocean at the World Economic Forum Alfred Giron said.

ORANGE AND GREEN ECONOMIES CONTINUE TO ADVANCE DESPITE CHALLENGES

Parallel to the silver and blue economies, Jamaica’s orange and green economies continue to evolve. The orange economy centred on cultural and creative industries (CCIs) — includes music, art, film, fashion, publishing, and more. This sector plays a key role in strengthening “Brand Jamaica” and has considerable potential for job creation and economic growth. However, it continues to face challenges related to policy development, investment, and data.

Dr Deborah Hickling Gordon, university lecturer and industry expert, believes the sector has untapped potential. With the creation of an enabling environment and the delivery of a much needed and well thought out policy framework, she pointed to some of the low hanging fruits which could further drive growth in the area.

“We have defined 20 subsectors in the orange economy within which we want to create opportunities. To unlock growth, we need to invest in infrastructure such as multi-purpose entertainment zones, a sports and reggae museum as we also move to optimise Kingston as a creative city,” she said as she also advocated for the development of cultural districts within communities, which could further boost output, grow revenues, and bring higher value-added for the sector.

Meanwhile, the green economy focuses on embedding sustainability into energy, agriculture, and ecotourism. Through initiatives like the Green Economy Investment Strategy (GEIS) and Vision 2030, the Jamaican Government has been aiming to align economic growth with environmental stewardship.

Key targets include achieving 50 per cent renewables in the national energy mix by 2030, with major investments in solar, LNG, and electric mobility. While there has been some progress in the area, infrastructure constraints however continue to slow the pace of full adoption.

“With agriculture and tourism also lined up as key pillars of the economy integral to green growth, these sectors also face challenges in fully aligning with sustainability goals — highlighting the need for greater support and innovation,” a regional development specialist noted.