Robust Recovery in Jamaica’s Cruise Industry

April 26, 2023

 

According to Tourism Minister Hon. Edmund Bartlett, Jamaica’s cruise sector is recovering strongly with continued increases in cruise passenger arrivals. In 2022, Jamaica witnessed cruise passenger arrivals of about 855,000 and the Minister expects 1.4 million cruise passengers to arrive during the current fiscal year.

Jamaica remains a first-call destination among major cruise lines and Royal Caribbean International (RCI) has committed to increasing the number of passengers delivered to Jamaica by 2023. Additionally, RCI intends on expanding its training collaboration with the Caribbean Maritime University (CMU).

Jamaica Vacations Limited (JamVac) and the Jamaica Tourist Board (JTB) have been working to drive the country’s cruise tourism recovery efforts, and there is a huge surge in interest in homeporting, with TUI considering having a second vessel homeport in Port Royal and Germany’s Aida Cruises continuing to do so in Montego Bay. Minister Bartlett attributed the remarkable resurgence of the global cruise industry to “pent-up demand” and expects the trend to continue until 2023.

The expansion of cruise tourism in Jamaica offers an excellent opportunity to revitalize the tourism industry, generate employment, and advance the national economy.

 

Disclaimer:

Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer(s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view(s) expressed by that research analyst in this research report.

Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.

More Stories from the Market
TransJamaican-Logo-ramon_Artboard-1
March 27, 2026   TransJamaican Highway Limited (TJH) has advised that a Director sold 6,400,000 TJH shares on March 24, 2026.   …
shutterstock_148562033
March 27, 2026   Supreme Ventures Limited (SVL) has advised that on March 26, 2026, a Director purchased 319,424 SVL shares and a related e…
shutterstock_453968572
March 27, 2026 United States: Economists See War Pushing US Inflation Above 3%, Hurting Growth   Economists raised their estimates for US …
shutterstock_148562033
March 26, 2026   IronRock Insurance Company Limited (ROC) has advised  that connected parties sold a total of 2,830 ROC shares during the p…
shutterstock_148562033
March 26, 2026   NCB Financial Group Limited (NCBFG) has advised that a connected party sold 2,717,700 NCBFG shares on January 23, 2026. Th…
shutterstock_453968572
March 26, 2026 United States:  War Hits Global Economy With OECD Seeing 4.2% US Inflation   The conflict in the Middle East is revivi…
shutterstock_609342323
March 25, 2026   Sagicor Group Jamaica Limited (SJ) has declared a dividend of $0.89 per stock unit payable on May 6, 2026, to stockholders…
shutterstock_148562033
March 25, 2026   Pan Jamaica Group Limited (PJAM) has advised that a senior officer purchased 276,992 PJAM shares on March 24, 2026. &…