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JAMAICA BUSINESS PROFILE

JAMAICA IS SUCCESSFULLY REDUCING ITS RELIANCE ON IMPORTS.

JAMAICA A SUSTAINABLE BUSINESS PROFILE There’s a lot of good news for Jamaica. Like other small island developing states (SIDS), it has been grappling with an array of sustainability challenges, from public debt, to unemployment (and the resulting high crime rate), to infrastructural damage from natural disasters and environmental damage from industry; but Jamaica is facing up to these challenges, through a combination of government intervention, social investment by responsible businesses, and the hard work and tremendous accomplishments of individual Jamaicans in their communities. In the World Bank’s 2015 Doing Business rankings, Jamaica achieved the highest rank in the Caribbean, leaping forward 27 places to 58th among 189 2 | SUSTAINABLE BUSINESS MAGAZINE

economies worldwide. As a result of ambitious policy changes, the country’s long-time debt-to-GDP imbalance is projected to finally fall, effective community policing efforts have led to a drop in crime, Jamaican tourism continues to grow, and the vital bauxite and alumina industry is resuming production, bringing with it thousands of jobs. In the midst of all these positive indicators, what does the framework for business and sustainability in Jamaica look like today? Jamaica’s economy is largely determined by its physical landscape. The mountainous center of the island houses minerals like bauxite and gypsum, the sunlight-receiving alluvial plains to

Sustainable Business Magazine  

Issue 04/15

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