FEBRUARY 2022 ISSUE 10/ VOLUME 22
DIGITAL PAYMENT INTEGRATION NOW EASIER FOR LOCAL BUSINESSES
5 tips to overcome supply chain issues TOURISM DEVELOPMENT ON TRACK DESPITE COVID-19 DR. CLARKE TO ENGAGE WITH FINANCIAL INSTITUTIONS ON INCREASES IN BANKING FEES TWO FROM THE CARIBBEAN MAKE FORBES 2022 BILLIONAIRE LIST
From the Editor February is the month of love. With the hardships of the past year fading and the promise of better things to come still holding firm in the New Year’s infancy, it’s a time to build new relationships, nurture existing ones, and rekindle those we may have lost or neglected. This applies not only to our personal relationships but also to our business ones. For many businesses, the celebration of love can mean a windfall if they position themselves correctly and stand prepared to deliver. This month’s issue highlights how the government shows the business community love by engaging both public and private agencies to streamline business processes and refuel the commerce engine. The Jamaica Technology and Digital Alliance and the Development Bank of Jamaica have introduced a new website that allows local businesses more straightforward access to digital payment technology. In the agriculture sector, JAMPRO has announced increased investments, coupled with greater use of greenhouses and hydroponics, to stimulate more growth and drive competitiveness on both a local and a global scale. The Ministry of Tourism (MOT) is firmly focused on developing Jamaica’s tourism product and the necessary infrastructural elements crucial to its continued growth and success. The MOT recently announced its Annual International Conference & Exhibition 2022, set to take place in June at the Montego Bay Convention Centre. Taken together with its “Rediscover Jamaica” campaign, designed to target the Diaspora, the MOT is aiming its efforts squarely at developing a more community-based tourism product to direct tourism dollars to where they’re needed most. Finally, whether small or large, every business across the whole spectrum of industries continues to be affected by supply chain issues. This has been a longstanding issue — with no end in sight — it’s almost a cliché at this point. In this month’s feature article, 5 Tips to Overcome Supply Chain Issues, we offer some helpful ways to mitigate against supply disruptions and keep your business on track. One Love!
Warm Regards, Paul Bauer EDITOR, THE MILLENNIAL MARKETER
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DIGITAL TRANSFORMATION IS INEVITABLE Minister Without Portfolio in the Office of the Prime Minister, Hon. Floyd Green says that the idea for the upcoming National Identification System is not entirely new. Since the 1970s, Jamaica has been trying to find a way to identify its people, their geo-location, and their individual needs so that adequate provision can be made for them. During the second half of this year, the process will begin whereby Jamaicans will be given a modern, electronically generated identification card that will replace all current forms of ID used. A pilot will be held in five locations starting in Kingston, partnering with Jamaica Post. “Digital transformation is inevitable; we all are living in a digital world, and the people, companies and countries that keep up with digital transformation will do well; those who do not probably will not survive,” Mr. Green said. He addressed sixth-form students at Clarendon College for the Seventh Annual John McMillan Lecture Series, held under the theme Digital Transformation Through National Identity. He asked the students to imagine a Jamaica so efficient that multiple forms of identification are not required to apply for bank accounts or student loans. He said a verifiable identity database containing critical information in a safe and secure space is the core of such a process. “What we have done is set up separate databases that contain some of your identity information, but they don’t speak to each other,” Minister Green said. Among these are birth certificates, passports, Taxpayer Registration Number (TRN), and drivers’ licences required for daily transactions, which usually result in people giving the same information repeatedly because there is no single space where all the data resides.
Under the new system, the government will pull together all identity information in one space that will link all other databases throughout the public and private sectors. When complete, all children will get a national identification number. Parents can then apply for a national identification card at age six. This will contain all the child’s critical information so that there will be no need for multiple IDs in the future. Once the number is indicated in an application, it will populate all the relevant information. “The national identification system allows us to bring forward digital signatures because we will have a verifiable database enabling us to know you are who you say you are,” Green explained. With the prevalence of cybercrimes such as identity theft, Green noted that having a national identity card made sense because greater security will be provided in a central database for all your protected assets. He said for those worried that the receiver of critical personal information will have access and use of it, Green assured that under the Data Protection Act, once information is typed, it is encrypted upon entry, making it indecipherable unless the person has special access. He stressed that the new system will be protected against all forms of identity theft now prevalent everywhere. “We have talked about it for… years, but we are now going to get it done this year; the law has already been passed, and the enrolment will begin in the second half of the year islandwide. Green said that people would bring in all their present forms of ID, which will be verified and then be issued an electronic, modern identification card,” Green said.
DIGITAL PAYMENT INTEGRATION NOW EASIER FOR LOCAL BUSINESSES Jamaican businesses, particularly micro and small enterprises (MSEs), will now find it easier to begin accepting digital payments with the assistance being offered through the Go-Digital website, a collaboration between the Jamaica Technology and Digital Alliance (JTDA) and the Development Bank of Jamaica (DBJ). The website – www.godigitaljm.com - allows local businesses to research, contact and access services through tech firms, including companies that offer digital payment solutions. Digital payments, which occur electronically without the physical exchange of cash, have become more common and even necessary for businesses during the COVID-19 pandemic. President of the JTDA, Stacey Hines, said that while many small businesses still use bank transfers by sharing their account information in public spaces, this method is less favourable with the increase in cybersecurity breaches. “What we would like to see more use of is payment gateways and apps,” she said while noting services such as WiPay Caribbean and Ezee Payments, which may be accessed through the Go-Digital website. Both offer safe and simple methods for businesses, including individuals, to accept digital payments without having a website or a card machine. Hines also suggested another option for businesses, particularly those with websites. “You may set up your own gateway by directly working with a bank. You can have a developer code the integration or the connecting of your platform with the bank so that you can accept credit card payments through that medium,” she said. Businesses may find firms with this experience and these skills via the Go-Digital website. Among the firms mentioned by Hines with experience in this field are DMA, Appfinity and Particular Presence. While the Go-Digital website connects businesses with the right IT service providers, the DBJ has also provided GoDigital Voucher grants to pay for software and services received through providers listed on the website. The grant will pay for 100 per cent of the cost of the service up to $300,000. For services exceeding $300,000, two loans are available under the DBJ SERVE programme, the DBJ MSME Recovery Loan and the DBJ Go-Digital Loan, with the latter being geared towards digital transformation. The DBJ Go-Digital Loan offers up to $800,000 at a two per cent interest rate. It can be used to acquire computer hardware, software and digital transformation services through companies on the GoDigital website. The DBJ Go-Digital loan can be accessed through DBJ’s network of approved financial institutions.
TECHNOLOGY SEEN AS THE TOOL TO BOOST AGRICULTURAL OUTPUT Vice President of Marketing at Jamaica Promotions Corporation (JAMPRO) Gabriel Heron says increased investments, coupled with greater use of technology such as greenhouses and hydroponics, can result in a major transformation of the agriculture sector. He made the remarks on Thursday, February 3 while addressing a virtual webinar focusing on ‘Technology-Driven Agriculture Business: Boosting Production, Driving Export Sales.’ “There is the potential to generate 10 to 15 times more yield acreage, and of course, with the additional benefit of limiting the debilitating impact of praedial larceny, which we know all too well,” he said. Mr. Heron noted that with a coordinated drive from both private and public sectors, the potential of agriculture in Jamaica can be realised. “There is a need for large agriculture projects that will provide economies of scale as well as consistency in production and quality, factors that are critical for sustained agricultural growth,” he said. He cited some of the technology-driven investments are the proposed 450-acre organic greenhouse project in St. Elizabeth and the 400-acre agricultural project in Lakes Pen, St Catherine. “The Caribbean needs these ventures right now as we try to push within the global space to ensure that we are competitive,” he said. He shared that the vision is to have a substantial number of transformative agriculturetechnology projects rolled out across adequately resourced agro parks in the country. “This is coupled with relevant training and community sensitisation initiatives which are critical, whereby small farmers are incorporated into the network of mother farms. This will have a significant social and economic impact and, of course, returns for investors,” he said. He noted that Jamaica has always had the potential to become the breadbasket of the Caribbean while also supplying the demand for fresh produce and agro-processed goods in North America. “Investments, the application of technology in agriculture, will go a far way in realising our potential. The Government is committed to advancing strategic initiatives such as the Product Input Relief, which includes incentives for the importation of equipment that can be used in greenhouse farming,” he said. The webinar, organised by JAMPRO, focused on Jamaica’s strides to strengthen technologydriven agribusiness, to boost production and drive increased export sales.
TOURISM DEVELOPMENT ON TRACK DESPITE COVID-19 Permanent Secretary in the Ministry of Tourism, Jennifer Griffith, says 90 per cent of all planned tourism investments remain on track despite the impact of the COVID-19 pandemic. “We have more than a dozen hotel development projects in progress throughout the different areas of the island,” Ms. Griffiths indicated. She addressed the official launch of the Annual International Conference & Exhibition (AICE) 2022 at the Montego Bay Convention Centre in Rose Hall, St. James, on Thursday, January 27. Ms. Griffiths said the Government has been undertaking its share of investment in the sector, noting that billions of dollars are being invested in the expansion and rehabilitation of the infrastructure. “This includes improvements to the island’s two major airports and the development of beach facilities, among many other projects,” the Permanent Secretary explained. “Moreover, we are investing in our people as we seek to drive community tourism experiences that bring the economic benefit of tourism directly into communities around Jamaica. This helps, also, through education and financial arrangements,” she added. Ms. Griffiths stated that providing communities with investment opportunities will allow stakeholders to expand their local businesses and trade, which will lead to a more resilient tourism sector. “For it is only through investment from within Jamaica and from partners internationally that Jamaica can continue to grow its tourism product to meet the ever-evolving demands of our visitors,” Ms. Griffiths pointed out. Through the Jamaica Special Economic Zone Authority (JSEZA), Jamaica was selected to host AICE 2022, which is organised by the World Free Zones Organization (WFZO). The upcoming conference is scheduled for June 13 to 17 at the Montego Bay Convention Centre in Rose Hall, St. James, where it is expected that some 1,500 guests from 140 countries will participate.
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EDUCATION MINISTER SAYS FACE-TO-FACE CLASSES PROGRESSING WELL Minister of Education and Youth, Hon. Fayval Williams says the Government has seen nothing to reverse course in its decision to resume face-to-face classes in schools across the island. The Minister said that there is enough evidence to suggest that the continued practice of following health and safety protocols outlined by the Ministry of Health and Wellness should see schools successfully going back to pre-pandemic days over time. This approach, however, requires the total buy-in of parents and teachers alike. “The Ministry will continue our current strategy of monitoring how the schools are following and obeying the COVID-19 protocols,” noted Minister Williams. These remarks were made at the official handover ceremony for the Jamaica Social Investment Fund (JSIF) $14-million Salt Spring Safe Passage Project at the Salt Spring Primary School, St. James, on January 27. “Our responsibility is to bring our children back into the face-to-face environment as safe as we can… to stay on top of what is happening in our schools… and to ensure we get weekly reports that give us a sense of what is happening,” she said. The Minister said that while it is unrealistic to believe that it will always be smooth sailing as it relates to stemming the flow of the pandemic, the Ministry, teachers, parents, and school administrators have put systems in place where any signs of possible exposure to the coronavirus are dealt with as swiftly as possible. “While there are reports of positive exposure among teachers and students, the infected persons stay home in those cases,” the Minister further explained. “We are monitoring the situation and sharing that data with the Ministry of Health and Wellness. So far in our schools, based on the reports and the spot checks that we do, we are implementing face-to-face learning in as safe a manner as we can,” she added. Mrs. Williams said there are also encouraging signs that many parents have been warming to the idea of their children getting vaccinated, noting that the number of high-school students who have done so has increased since last December. “In our high schools, we continue to see the percentage of vaccinated students increase,” she added. “When we ended December last year, it was 31 per cent of the students, but when I checked the numbers a week or so ago… we were at about 37 per cent. We are also seeing that children are still taking up the vaccines,” the Minister noted. Over at Ocho Rios High School, St. Ann, face-to-face classes have finally resumed following a two-year hiatus. Principal Marvin Clowson, in a statement to parents, said there would be strict adherence to health and safety guidelines, noting that there would be a zero-tolerance approach to breaches.
INTERNATIONAL CONFERENCE WILL SHINE SPOTLIGHT ON JAMAICA Permanent Secretary in the Ministry of Tourism, Jennifer Griffith, says the staging of the International Conference & Exhibition (AICE) 2022 in Jamacia will shine the spotlight on the island as the Caribbean’s leading destination for leisure and business. She spoke at the media launch of the event on Thursday (January 27) at the Montego Bay Convention Centre in Rose Hall, St. James. Through the Jamaica Special Economic Zone Authority (JSEZA), Jamaica was selected to host the eighth annual event organised by the World Free Zones Organization (WFZO). More than 1,500 guests from some 140 countries are slated to attend the conference scheduled for the Montego Bay Convention Centre from June 13 to 17. It will bring together a large cross-section of international, regional, and local participants, including business leaders, free-trade practitioners, multilateral organisations and policymakers. They will spread public awareness about the contribution of free zones to economic growth and exchange ideas, experiences, and vision for a more integrated global trade environment. “Further… delegates will have the opportunity to experience a taste of our island home, from our welcoming people, our unique culture and spectacular destination product,” Ms. Griffith said. She noted that the conference would also highlight investments in tourism. “Investment is crucial to the ongoing development and growth of our tourism sector as we seek to diversify our tourism product, provide more jobs for Jamaicans and attract more visitors to our shores,” she said. “This is why hosting this conference now is so important as we strive to recover from the impact of the coronavirus (COVID-19) pandemic. It has had quite an effect on tourism, as you know, and we need to build back better and stronger,” she added.
BARTLETT TARGETS DIASPORA WITH ‘REDISCOVER JAMAICA’ CAMPAIGN The Ministry of Tourism and hoteliers in Jamaica have partnered to launch the ‘Rediscover Jamaica’ campaign to encourage domestic tourism. Tourism Minister, Hon. Edmund Bartlett told diaspora members on Thursday (January 27) that this is among the innovative strategies that tourism stakeholders are implementing and will keep the occupancy levels buoyant. This initiative provides staycation packages that allow locals to stay at various hotels with drastically reduced rates. Addressing the monthly online programme “Let’s Connect with Ambassador Marks,” hosted by Jamaica’s Ambassador to the United States Audrey Marks, Minister Bartlett explained that the COVID-19 pandemic had presented the most significant and sustained challenge to Jamaica’s tourism product since the development of the sector in the 1950s. He said the disruption to international travel due to reduced travellers’ confidence within important source markets such as the USA, Canada and the UK has required that tourism stakeholders in Jamaica find innovative strategies to keep up occupancy levels. “As a complementary strategy to our efforts to promote domestic tourism, we have also increased our focus on another important group of Jamaicans to diversify our tourism product. Jamaicans, living overseas. To this end, we are hoping to leverage the collective powers of the diaspora,” Bartlett said. The tourism minister pointed out that “as we look to recover from the current crisis and plan for the future, we are seriously looking at diaspora tourism as a means of accelerating investments in the country’s tourism product. Indeed, Jamaica’s sizable and loyal diaspora has the potential to be a key driver of growth and diversification of tourism,” Bartlett declared.
To support the programme and commemorate the island’s 60th independence anniversary, the tourism minister announced a “60/60 Diaspora Vacation Package.” This will target 60 Jamaican couples from the diaspora to stay in one of the country’s luxurious hotels at a rate of US$60 per night from mid-August to mid-December. “The diaspora is a major component of our market, and is also major marketers because foreigners are…driven to visit Jamaica by the “word of mouth” and lived experiences of the Jamaicans who they meet,” he noted. The tourism minister pointed out that “our diaspora is also a reliable source of foreign revenue as many immigrants travel to their home countries seasonally as tourists. “Diaspora visitors are responsible for 11-15% of Jamaica’s total annual arrivals. Diasporic tourism can also spur growth in the country’s export economy. The diaspora also represents a reliable market for the export of Jamaican products,” he said. Speaking to the over 500 online participants from the USA, Mexico, the UK and Bermuda, Ambassador Marks said, “the diaspora represents a unique kind of tourist. They are more likely than international tourists to connect with the local economy by staying in locally owned, smaller accommodations or with relatives, eating in local restaurants, and buying from local vendors. “This year promises to be an exceptional one! Jamaica will be celebrating its diamond jubilee of independence – that is, its 60 years of independence! More than ever, the embassy and consulates will be reaching out to explore areas of collaboration to benefit Jamaica. Whether it be by adopting a clinic, a police station, a school or sponsoring a student, we have the potential to impact Jamaica for the better, and I look forward to the diaspora’s continued commitment,” Ambassador Marks said.
DR. CLARKE TO ENGAGE WITH FINANCIAL INSTITUTIONS ON INCREASES IN BANKING FEES Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke is to engage with financial institutions regarding recent increases in banking fees. Minister Clarke will embark on discussions with the institutions to look at these charges and how they affect the Jamaican people doing business with these banks. In an interview on Nationwide News Network, Hon. Robert Morgan, Minister without Portfolio in the Office of the Prime Minister with responsibility for Information, disclosed on Thursday, January 27. Since the start of the year, the National Commercial Bank (NCB) has announced and introduced increases in various fees. In addition, Scotiabank is set to raise banking fees effective February 1. Minister Morgan said that the coronavirus (COVID-19) pandemic has upended the economic situation in Jamaica and has challenged the social and economic circumstances of Jamaicans. In light of all these circumstances, it is very challenging for us to accept or even accommodate a situation where certain businesses have added a more significant burden on our people, who have been challenged over the last two years. We had an obligation to speak about it. These sentiments are shared by both the Prime Minister and Minister of Finance. He noted that it is not the intention of the Government, in a free market, to try to coerce or tell private businesses what they should charge for their goods and services. “We have seen price controls in the past, and the economists will tell you, and our experience in Jamaica will tell you that price control as an economical approach to business does not work,” he pointed out. In addition, he noted that “people outside are …watching and analysing the Government’s approach to the financial market.” “But fundamentally, as a Government, we represent the people, and wherever we see something that we feel does not accord with the best interest of the people, we must speak about it and act on it,” Mr. Morgan said. The Minister said the Government understands and appreciates that several banks have provided moratoria on loans over the last two years, enabling customers to delay repayments. The banks themselves have also suffered from the impact of the pandemic. “But the system has to be balanced. You have to look at the circumstances of your customers, the economy and the people and make decisions that take into consideration the challenges that people are facing,” he stressed. Mr. Morgan noted that the Government must take a more vital role in educating citizens about the financial resources that are available to them. “We can ensure that there is a competitive environment where people have choices. People need to start looking where they can get the best deals,” Mr Morgan said.
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5 TIPS TO OVERCOME SUPPLY CHAIN ISSUES While it is evident that supply chain logistics are constantly evolving, there is no denying that the pandemic caused disruptions that most brands aren't accustomed to handling. Now, in 2022, there are new challenges companies must tackle to remain successful within the competitive space. The shift to online retail, increased consumer confidence, pent-up demand, and amassed savings add tremendous opportunities for many brands. As you can tell, the pandemic has presented some unique supply chain challenges that eCommerce retailers continue to tackle daily. The good news is that there are many ways to mitigate significant issues and avoid running out of inventory ever again. And though there's not a one-size-fits-all approach to supply chain planning, a combination of a few techniques may provide the most complete and comprehensive outcomes.
KEEP LIQUIDITY IN YOUR BUSINESS. Protect your business with flexible access to capital. After all, having cash on hand is often the difference between meeting demand and going out of stock. With sharp inventory flows expected in the coming months, it's wise to consider a flexible line of credit that can be used to stock up on products in high demand and pay for priority manufacturing/shipping or even air freight. DIVERSIFY SOURCING IN YOUR SUPPLY CHAIN STRATEGY. Broaden your range of sourcing, perhaps geographically, to increase choice and abundance within your supply chain. Developing several supplier relationships makes it easier to become more flexible and adjust to a constantly changing market. Often, diverse sourcing is the key to a business's success, as it can readily locate goods and materials while maintaining profits, growing customers, and boosting innovation. WORK WITH A FREIGHT FORWARDER. Partner with a freight forwarder — or multiple — to manage and track the shipment of your goods. While freight forwarding companies are accountable for transporting products from one destination to the next, they can also arrange the entire process for shippers and negotiate the best price and/or fastest route. Retailers who work with a freight forwarder benefit from their vast knowledge of the supply chain, in addition to their ability to handle unforeseen obstacles in real-time (such as delayed goods or rerouted services). Moreover, freight forwarders can negotiate at scale by aggregating shipments of smaller retailers. IDENTIFY ALTERNATIVE SHIPPING PORTS. Hedge your bets by seeking out alternative ports to meet your fulfilment needs and stay on schedule, regardless of unforeseen events or a sudden spike in customer orders. IMPROVE DEMAND FORECASTING. Without fail, the best way to improve forecasting is by using automation to calculate these metrics on your behalf. Retailers are always looking for a balance between their inventory levels, warehousing costs, and the demand from their customers to prevent stockouts or inventory shortages. With automated inventory alerts, forecasting tools, and cash on hand, merchants can confidently stock up based on predicted product demand and/or sales. What's more, making forecasting a priority can streamline inventory counts and reduce excess overhead fees.
TWO FROM THE CARIBBEAN MAKE FORBES 2022 BILLIONAIRE LIST Jamaica's Michael Lee-Chin ranked at 12 on the list of 15 black billionaires named by Forbes for 2022 with US$1.6 billion in net worth. Lee-Chin is a majority investor in National Commercial Bank Jamaica, AIC Limited, and other companies. Writing for the Atlanta Journal-Constitution, Avery Newmark highlights that on Forbes' new billionaire list notes that only 15 or less than one per cent are African or African-American. Barbados National Hero Rihanna is new to the Forbes billionaire list ranking at number seven among persons of African descent with a net worth of US$1.7 billion. On the complete list, as of January 22, 2022, Tesla and SpaceX founder Elon Musk is number one with a net worth valued at US$243 billion, ranking number one among the wealthy. He was followed by Amazon's founder and former CEO, Jeff Bezos (net worth: US$168 billion). In third place is LVMH's chairman and CEO, Bernard Arnault, with approximately US$167 billion total net worth. In fourth place was Microsoft head Bill Gates who ranked 4th with a personal wealth of US$129 billion.
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A GENERATION WILL BEAR THE SCARS OF COVID — IMF A new assessment coming from International Monetary Fund (IMF) staff proffers the idea that, while fewer of the young have died due to COVID-19, they might bear the scars of the novel coronavirus pandemic for years. IMF writer Ruchir Agarwal said in a blog published on Friday, "While the coronavirus has taken relatively more lives from older generations, younger people may feel the impact on their livelihoods for the duration of their working years. From this perspective, the economy, too, may have a kind of long COVID, with each generation bearing different scars." Included in this long-term impact is the effect of disrupted classroom time for those from ages 5 to 19, who make up about a quarter of the world's population. Today, more than two years into the crisis, schools remain closed for millions, with others that were reopened shuttered once again due to the Omicron variant. IMF analysis shows that learning losses have been highly unequal, and it was noted that "Closures in the first two years of the pandemic lasted roughly twice as long in developing countries compared with advanced economies." Further, the negative impact is made more significant, as the proportion of those at school age in developing countries is nearly double that of advanced economies. It was stated, "The IMF's April Fiscal Monitor estimates that education losses from classroom closures by the end of 2020 amounted to as much as a quarter of the school year in advanced economies and up to half in emerging and developing economies." It was highlighted that the unequal learning losses across countries persisted through October 2021.
GRADUATING TO UNDEREMPLOYMENT The impact also continues on graduates who have entered weakened labour markets. According to the IMF staff assessment, "Those entering the workforce amid economic downturns experience weaker employment and wage prospects, as was the case with the Great Recession of 2007-09." Analysis in the IMF's October World Economic Outlook found that the labour market outlook for low-skilled workers and youth remains relatively poor compared to other groups. The writer stated, "This points to increasing inequality and higher vulnerability to poverty." It has been asserted that the combined cocktail of challenges will have economic consequences for decades due to the learning losses, lower productivity, and employment disruptions. In total, it is estimated that pandemic-era students could sacrifice as much as US$17 trillion in lifetime earnings, according to a recent report by the United Nations and the World Bank. The IMF analyst states that, for all these reasons, it is "crucial to ending this crisis". It was concluded, "As the IMF pandemic proposal has emphasised: The economic crunch won't end until the health crisis is controlled everywhere." It was recommended that policymakers "keep their focus on severely strained social safety nets and health-care and education services" in the interim.
JAMAICA SCORES IN REMOTE WORK RANKING Jamaica ranks in the top 10 regionally in the Remote Work Ranking published by Kayak. According to the study published recently, that works out to 9th in the Americas and 56th globally. It highlighted the ability of the island to contain the virus and that travellers received value for money in purchasing goods and services. Kayak, since 2004, has offered consolidated online travel searches across airlines, hotels and car rentals. In 2013, the company was acquired by Booking Holdings, a leader in online travel. "If you've ever daydreamed of breaking your lease, moving your stuff into storage and travelling, we can relate. That's why we created the Remote Work Rankings," said Kayak on the remote ranking, adding that it will assist in finding your next personal office. The methodology includes 22 factors while comparing 111 countries according to their remote working conditions and opportunities to "really explore outside of your usual 9 to 5 routine." Brazil topped the list of nations in the Americas, and it was 24th globally due to what Kayak called its "amazing travel" experiences without the "bougie budget." It also welcomed Brazil's liberal stance in general to gay travellers. "As a bonus, Brazil is one of the world's most LGBT-friendly countries and has no shortage of places to go out and experience its festive culture," said Kayak. As one of the largest countries in the region, Brazil topped the list, but the second and third positions went to the small island states of Dominica and Curaçao, respectively. Dominica offered remote workers low COVID-19 rates and good health care, while Curacao offered many coworking spaces and things to do on off days. Globally, Portugal, Spain and Romania ranked as the top destinations in the world for remote working. The worst places for remote work were US Virgin Islands at 111th, the Maldives at 110 and Bermuda at 109.
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