Foreign Business Invested US$567 million in Jamaica in 2013 but Less Than Record Inflow in 2008

How much money is being invested in Jamaica by foreign companies/countries? Today’s Jamaica Observer revealed some mildly encouraging data in its article “FDIs hit 5-year high for Jamaica.”

The article stated that “FOREIGN direct investments (FDI) into Jamaica hit a five-year high of US$567 million in 2013, as investments into the country continue to recover from the late 2000s global economic meltdown.”

Some of the money came from Chinese and tourism-related projects, Sagicor of Barbados, Blue Diamond of Canada, among others.

The inflow of money in 2013 represents a 16% increase over the amount invested in Jamaica in 2012. However it is below “the annual average over the previous decade, which stood closer to US$700 million. Jamaica had a record inflow of US$1.4 billion in 2008.”

The article outlined in details what sectors the foreign companies invested in and how other countries like Trinidad and Dominican Republic fared. Read more here.