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This is a list of estimates of the real gross domestic product growth rate (not rebased GDP) in Latin American and the Caribbean nations for the latest years recorded in the CIA World Factbook. Nations are not included if their latest growth estimate was for a year prior to 2014. The list contains some non-sovereign territories.
Jamaica, which had seen its poverty rate drop almost 20 percent over two decades, saw it increase by eight percent in a few years. The unemployment rate in Jamaica is approximately 6.0% (April 2022, Statistical Institute of Jamaica), with youth unemployment more than twice the national rate, albeit trending downwards (15%).
Much of the profit from tourism is earned by corporations outside of the Caribbean since, "two-thirds of the hotel rooms in the region are foreign owned, and the tour companies who arrange visitor's activities are often foreign owned". [20] The more luxurious the accommodations, the more likely that profits are made by foreign firms.
Tourism in Jamaica This page was last edited on 25 November 2021, at 00:03 (UTC) . Text is available under the Creative Commons Attribution-ShareAlike 4.0 License ; additional terms may apply.
The U.S. State Department recently issued travel advisories designating Jamaica as “Level 3: Reconsider Travel” and the Bahamas as “Level 2: Exercise Increased Caution” destinations.
In 2010 the labor force participation rate in the Caribbean was 77% and in 2011 it was recorded that GDP per capital in the Caribbean communities average near $10,000. Due to the lack of economic opportunity and low GDP per capital levels, Caribbean people are traveling in large numbers to developed countries.
Jamaica is an upper-middle-income country [15] with an economy heavily dependent on tourism; it has an average of 4.3 million tourists a year. [20] Jamaica is a parliamentary constitutional monarchy, with power vested in the bicameral Parliament of Jamaica, consisting of an appointed Senate and a directly elected House of Representatives. [9]
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