Jamaica

Kevin Wilk

Overall Score

67.7

World Ranking

48
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Jamaica Quick Facts

Population: 2.8 million

GDP: 25.2 billion

GDP Growth Percentage: 0.5% growth

GDP Per Capita: $9,048

Unemployment: 15%

Inflation: 9.4%

Foreign Direct Investment: $567.1 million

Legal System

The Jamaican Legal system is based off of British common law. It happens to be one of the main three types of legal systems in the world.
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Competetive Markets

Jamaica does very well in competitive markets with its apparel market and food and beverage market.
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Limits on Government Regulation

Jamaica has a lot of import regulations imposed by the government. Some that I found interesting include: Cats or Dogs, all species of birds, meat and plant products, their local currency and anything made from animal fur.
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An Efficient Capital Market

Jamaica is working on structuring its capital market. Local companies have been looking for cheaper financing. Capital market space offers more alternatives to bank debt.
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Monetary Stability

Jamaica has their own currency. They have what is known as the Jamaican Dollar. It would take 115.508 Jamaican dollars to equal one American Dollar.
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Low Tax Rates

Jamaica has an issue with low tax rates. Sales tax is 16.50%. This is over twice as much as Michigan's tax rate. It also has a lot of variation which is never good.
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Free Trade

Jamaica has excusive free trade zones. It is designed to encourage foreign trade and stimulate economy.
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PSOJ: Hope for Jamaica's economy

Video

Jamaica's economy is ran mostly on tourism, however they are finding new ways and trying to think of other plans to boost Jamaica's economy.
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