Jamaica's hotel and restaurant industry grew 0.1% for April to June

 

Jamaica's Hotel and Restaurant industry recorded estimated growth of 0.1 per cent for the April to June quarter.

 

Dr. Wayne Henry, Director General of the Planning Institute of Jamaica, says this reflects a marginal increase in visitors based on preliminary arrival data. 

 

"Preliminary data on foreign national arrivals for the review quarter stood at 699,733 visitors, an increase of 0.1 per cent compared with the corresponding quarter of 2023," he noted. 

 

As for the Finance and Insurance Services industry, growth is estimated at 1 per cent. 

 

"Preliminary visitor expenditure is estimated to have increased by 1.1 per cent for approximately US$1 billion compared with the corresponding quarter of 2023. The performance largely reflected the impact of increase in net interest income due to a rise in the stock of loans and advances at deposit-taking institutions, and higher income from fees and commissions supported by increased utilisation of financial services," Dr. Henry reported. 

 

He was speaking at the PIOJ's quarterly press briefing recently.