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Jamaica’s two major international airports, operated by Grupo Aeroportuario del Pacífico (GAP), reported an estimated $60.64 million in revenue during the third quarter of 2025. This financial performance was driven by the processing of 1.77 million passengers across both facilities. Sangster International Airport (SIA), managed by MBJ Airports Limited, saw a 9% revenue increase to $41.46 million, largely attributed to higher aeronautical service fees, including passenger, landing, and bridge fees, which rose 9% to $26.25 million. Passenger traffic at SIA grew by 7.7% to 1.24 million, recovering from the impact of Hurricane Beryl in the previous period, though it remained below the 1.31 million passengers recorded in Q3 2024. Operating expenses for both airports surged by 22% ($10.24 million) due to increased concession fees, improvement costs, and depreciation charges. Despite this, SIA’s operating profit improved by 1.7% to $13.17 million, with EBITDA rising 2.5% to $17.64 million. GAP’s quarterly report highlighted a 200-basis-point decline in the operating income margin for Jamaican airports to 43.3%, or 52.5% excluding concession asset improvement costs. Operating profit increased by $23.04 million (11.5%) compared to Q3 2024, while net profit rose by $38.25 million (36%). However, comprehensive income fell by $8.73 million (6.2%) due to foreign currency translation losses. Over the first nine months of 2025, Jamaican airports generated $178.14 million in revenue, with MBJ Airports reporting a 14.6% increase to $126.25 million. Operating profit surged by $118.52 billion (19.7%) despite a 17.9% rise in expenses. GAP plans $203.30 million in investments to enhance both airports between 2026 and 2030, supported by newly approved aeronautical rate increases. SIA’s rates will rise from $17.38 in 2026 to $19.07 in 2030, while Kingston’s rates will increase from $38.18 to $60.10. GAP remains optimistic about Jamaica’s long-term tourism growth, citing planned hotel expansions and increased tourist arrivals.

Jamaica is gearing up to inaugurate its first casino, located at the Princess Grand Jamaica Hotel in Hanover, marking a significant milestone in the nation’s economic transformation. The Casino Gaming Commission (CGC) is spearheading efforts to establish Jamaica as a regional leader in integrity, transparency, and investor confidence through a robust regulatory framework. This initiative aligns with international best practices and aims to ensure the sustainable growth of the casino gaming industry.

Cleveland Allen, CEO of the CGC, emphasized the commission’s commitment to building a foundation rooted in accountability and respect for the law. ‘Our primary responsibility is to create systems that protect investors, operators, employees, and the public while ensuring transparent and fair financial management,’ he stated.

In recent months, the CGC has accelerated its regulatory evolution by modernizing licensing, monitoring, and compliance systems. Advanced digital tools have been adopted to enhance due diligence and operational transparency. A pivotal aspect of this effort is the strategic partnership with the Financial Investigations Division (FID), formalized through a Memorandum of Understanding (MOU). This collaboration aims to detect and disrupt illicit financial activities, particularly money laundering risks associated with casino operations.

Dennis Chung, chief technical director at the FID, highlighted the significance of the MOU, stating, ‘This agreement strengthens our ability to identify and disrupt illicit financial flows, safeguarding the integrity of Jamaica’s financial system.’

The CGC’s initiatives are closely aligned with Jamaica’s broader tourism investment strategy, which focuses on attracting high-value visitors and promoting luxury resort developments with strong local linkages. Minister of Tourism Edmund Bartlett underscored the role of casino gaming as a new frontier in Jamaica’s tourism development, emphasizing the importance of responsible expansion and sustainable growth.

In addition to regulatory oversight, the CGC is placing a strong emphasis on responsible gaming and public education. Allen reiterated the commission’s commitment to fostering an informed public that understands the opportunities and responsibilities associated with casino gaming. ‘We aim to ensure that the industry grows safely and inclusively, benefiting all stakeholders,’ he added.

The Princess Grande Jamaica resort in Green Island, Hanover, will host the country’s first casino, setting the stage for a new era in Jamaica’s economic and tourism landscape.

Amid escalating operational costs and tightening cash flows, the Jamaica Business Development Corporation (JBDC) has issued a critical warning to micro, small, and medium-sized enterprises (MSMEs) in Jamaica. The agency emphasized the importance of recognizing and addressing early signs of financial distress to avert bankruptcy. This advice was highlighted during the JBDC’s recent Virtual Biz Zone webinar, titled ‘Debt Alarm: Identifying the Signs of Financial Distress,’ which was conducted in partnership with the Office of the Government Trustee (OGT). The session aimed to equip entrepreneurs with actionable strategies to detect and mitigate financial vulnerabilities before they escalate into business collapse.

Once a hub for starter homes and middle-income neighborhoods, Portmore, Jamaica, is now emerging as a hotspot for high-end developers and diaspora buyers seeking lifestyle upgrades and long-term investments. The latest addition to this transformation is Tessera by SmartHomes Jamaica, a groundbreaking development that underscores the city’s shift toward sustainable, tech-driven living. Located in Bernard Lodge, Tessera will feature 418 units across four neighborhoods, each equipped with solar panels, lithium battery storage, and EV-charging outlets. The community will also boast a clubhouse, recreational spaces, and jogging trails, amenities previously reserved for upscale areas in Kingston. With prices starting at $36.95 million, Tessera positions Portmore in Jamaica’s mid-to-upper housing segment, offering enhanced features like built-in energy and water systems that significantly reduce utility costs. Each unit includes six solar panels, a hybrid inverter, and a lithium battery, ensuring uninterrupted power during outages. A solar water heater, a 400-gallon roof-mounted tank, and a rainwater harvesting system further enhance sustainability. SmartHomes estimates these features can slash electricity bills by 50-80%. Lancedale Farquharson, operations director at SmartHomes, emphasized the affordability of these eco-friendly homes, stating, ‘We treat smart and green as standard, not luxury.’ The development targets young professionals and returning residents, offering a $1 million discount for early applications and a 5% deposit requirement. Portmore’s evolution from a suburban spillover to a thriving residential hub has been fueled by new highways, expanding commercial centers, and a growing population of professionals. Tessera builds on this momentum, introducing advanced technology and environmental consciousness to the area. Despite rising construction costs driven by inflation and global supply chain pressures, SmartHomes remains committed to making sustainable living accessible. The first phase of Tessera, comprising 136 units, is underway, with completion slated for early 2027. This development sets a new standard for modern, energy-efficient housing in Jamaica, signaling a promising future for Portmore’s real estate market.

Jamaican manufacturers are being encouraged to enhance their packaging design to better compete with imported products, but the lack of local innovative packaging designers remains a significant hurdle. Tara Kisco, Country Manager at PriceSmart Jamaica, emphasized this during a Young Entrepreneurship Fireside Chat hosted by the Young Women and Men of Purpose (YWOP/YMOP) Foundation. She highlighted that packaging is often the first point of contact with consumers, serving as a crucial sales tool. PriceSmart, a membership-based retail warehouse club, has been working closely with suppliers to improve packaging so that local products are indistinguishable from imported ones. Kisco noted that proper labeling is equally important, with retailers like PriceSmart refusing to stock products that lack essential details such as origin, usage instructions, and manufacturer information. The Jamaica Bureau of Standards is also developing new labeling rules to help local goods meet export standards and strengthen their presence in overseas markets. While packaging design can be costly, Kisco stressed its critical role in consumer perception. She advised manufacturers to align packaging with the product’s intended price point, using bottled water as an example to illustrate how packaging can signal a product’s market position. Despite ongoing investments in local packaging, Kisco observed that imported packaging remains dominant, particularly for more creative and innovative solutions. In November 2023, Jamaica Packaging Industries Limited (JPI) completed a $2-billion investment in a new facility, significantly boosting its production capacity. This expansion aims to reduce Jamaica’s reliance on imported packaging, which currently accounts for over 60% of corrugated boxes used in the country. According to TradeEconomy.com, Jamaica’s total paper packaging imports reached US$49 million in 2023, with corrugated and non-corrugated cartons and boxes making up the majority. These figures underscore the strong demand for packaging, yet the creative and technical aspects of packaging design remain underdeveloped, limiting local manufacturers’ ability to compete effectively.

Jamaica’s push for financial inclusion has spurred a remarkable rise in digital payments and mortgage activity, yet the nation’s small businesses face a crippling credit crunch, jeopardizing sustainable economic recovery. According to the Bank of Jamaica’s National Financial Inclusion Strategy (NFIS) impact report for the first half of 2025, digital transactions surged by 10.9% year-over-year, reaching 71.1 million, with utility bill payments leading the charge at 73.3% digital adoption—a figure more than double that of 2015. Simultaneously, new mortgage values climbed 13.5% to $44.4 billion, reflecting robust consumer confidence in the housing market. However, credit growth to micro, small, and medium-sized enterprises (MSMEs) plummeted to 5.8% from 27.4%, with micro-enterprises seeing a mere 0.1% increase. This stark divergence underscores a critical challenge: while consumer finance thrives, the backbone of Jamaica’s economy—small businesses—struggles to access vital capital. Dr. Norman Grant, first vice-president of the Small Business Association of Jamaica, highlighted collateral requirements as the primary barrier, urging the introduction of developmental loans and policy reforms to support MSMEs. The Bank of Jamaica, led by Senior Deputy Governor Dr. Wayne Robinson, is addressing these issues through initiatives like the rollout of a Central Bank Digital Currency (CBDC) and efforts to improve financial literacy and MSME digitization. Yet, the paradox remains: while digital payments generate valuable data on cash flow and financial behavior, mechanisms to translate this data into affordable credit for small businesses remain underdeveloped. As Jamaica’s financial inclusion strategy advances, bridging the gap between digital consumers and collateral-poor entrepreneurs will be essential to ensuring broad-based economic growth.

Medical Disposables and Supplies Limited (MDS), a prominent distributor of pharmaceutical and medical supplies, has embarked on a strategic initiative to reverse its financial losses and return to profitability. Despite two consecutive years of net losses, the company has outlined a four-pronged approach to address its challenges and restore financial health. This strategy includes aggressive cost reduction, restoration of gross margins, debt reduction, and an expanded product offering in both its medical and consumer divisions.

MDS, which has been listed on the Jamaica Stock Exchange (JSE) for nearly 12 years, has seen significant growth in revenue, assets, and capital base since its listing. However, the company faced setbacks due to the write-down of COVID-19 backlogged products in its March 2024 financial year and rising operational financing costs in 2025. These challenges have necessitated a sharp focus on cost management and operational efficiency.

In its 2025 annual report, MDS highlighted progress in revenue growth, expanded product offerings, and stronger gross margins. Consolidated revenue grew by 5% to $3.88 billion, driven by increased sales volumes and market diversification. Gross profit rose by 22% to $876.43 million, though real growth was only 10.64% after accounting for inventory write-downs. Administrative expenses increased by 8% due to emergency repairs and higher security costs, while selling and promotional expenses were reduced by 4%.

However, MDS faced a significant jump in impairment charges on financial assets, from $14.97 million to $129.17 million, largely due to auditors increasing provisions for related party balances. This resulted in a consolidated operating loss of $151.66 million and a net loss of $281.06 million. Despite these setbacks, the company’s core business showed improvement, with revenue growing by 9% to $3.52 billion and gross profit rising by 38% to $787.29 million.

MDS CEO Kurt Boothe emphasized the company’s focus on cost containment, supplier renegotiations, and operational efficiency. The company has also expanded its presence in the general consumer market, with confectionery, beauty, and household lines contributing to revenue growth. MDS expects finance costs to decline in the coming months as it optimizes inventory levels and enhances collections performance.

The company’s first quarter (April to June) saw a 3% rise in consolidated revenue to $998.74 million but a net loss of $16.42 million. MDS’s asset base stood at $2.49 billion, with inventory at $1.04 billion and trade receivables at $626.19 million. The company last paid a dividend in January 2023 and is currently focused on financial recovery. MDS will host its annual general meeting on November 20 at its head office in Kingston.