Carib Scope

分类： business

  • Pan Jamaica strengthens pillars as risks heighten

    Pan Jamaica strengthens pillars as risks heighten

    KINGSTON, Jamaica — Amid intensifying global market headwinds and widespread economic uncertainty, Caribbean conglomerate Pan Jamaica Group Limited (PJAM) is doubling down on strengthened corporate governance and strategic business diversification to offset the challenges of a highly turbulent 2026.

    Jeffrey Hall, PJAM’s chief executive officer and vice-chairman, outlined the group’s risk-mitigation strategy to shareholders on Thursday, emphasizing that the current global landscape demands deliberate, proactive planning for stakeholders who entrust the firm with their capital. “This is not an ordinary time for markets, and it is critical that we are transparent about the risks we see on the horizon,” Hall stated.

    His remarks followed the release of the group’s first-quarter financial results, which delivered a 14% year-over-year rise in consolidated revenue to JMD $11.13 billion, but a sharp decline in net earnings driven by overlapping global and local shocks. Consolidated net profit plummeted 56% from $2.11 billion in the prior year period to $924.47 million for the quarter ending March 31, while net profit attributable to shareholders fell even more sharply, dropping 71% to $487.26 million.

    Multiple interconnected factors drove the earnings slump. Geopolitical tensions between the U.S. and Iran have sent global fuel prices soaring, amplifying inflation across markets and squeezing margins for PJAM’s operating subsidiaries spread across the Americas and Europe.

    Extreme weather events also dealt major blows to the group’s agricultural and logistics segments. Hurricane Melissa destroyed nearly 100% of PJAM’s banana and plantain farms, pushing first-quarter operating costs $120 million higher as the group works to rebuild production. Two subsequent North Atlantic storms disrupted the group’s ocean logistics division, which operates five refrigerated cargo vessels, causing $150 million in losses. Hall detailed that one storm knocked deck-stored containers overboard into the ocean, triggering costly delays that threw the vessel’s entire scheduled route off course.

    Adding to the financial pressure, the group recorded a $200 million foreign exchange loss during the quarter, driven by appreciation of the Jamaican dollar against the U.S. dollar that hit the conglomerate’s long FX position, which includes its 43% stake in subsidiary Kingston Wharves Limited. The group also logged a $249.57 million unrealized loss on its domestic Jamaican listed securities holdings, a stark reversal from the $16.71 million unrealized gain recorded in the same quarter last year. Even with these headwinds, the group is actively working to divest $5.5 billion in non-core assets to streamline its balance sheet.

    Hall stressed that the group’s core strategy to weather volatility remains centred on governance, diversification and maintaining healthy cash reserves, rather than pulling back from expansion plans. “We are not stepping away from growth; we are just proceeding with greater care,” he explained. “We believe our business is structured effectively to remain resilient through these challenges.”

    Even amid broader market uncertainty, PJAM is pushing forward with targeted growth across key segments. Its specialty foods division is rapidly expanding its juice business across Europe, where the group already owns four operating companies across Spain, the Netherlands, Belgium and Denmark. In October 2025, PJAM acquired a 64.1% stake in Danish firm Frankly Juice A/S for $410 million to solidify its footprint in the Nordic market, and sales to Eastern European markets are now hitting all-time highs. The firm is currently rolling out new operations in the Czech Republic and Romania, even amid ongoing global risk.

    In its global services division, flagship subsidiary Kingston Wharves is pursuing growth via acquisitions of freight forwarding and logistics businesses, with plans to expand its presence in Western Jamaica. On the property and infrastructure front, subsidiary Baywest Development Limited has secured all necessary approvals to build a new resort development in Freeport, Montego Bay, with construction slated to begin in 2027. Separately, Capital Infrastructure Group Limited is set to begin benefiting from operations next year, when Rio Cobre Water Limited completes construction of a new 5-million-gallon-per-day water treatment plant.

    PJAM also plans to support upcoming debt and equity raises for the Sagicor Group Caribbean Limited (SGC) restructuring transaction, scheduled to close later this year, which will see Sagicor Group Jamaica Limited and Sagicor Life Inc become subsidiaries of the new regional holding company. Hall noted that periods of market disruption often open the door to transformative long-term opportunities, pointing to the group’s history of making successful big moves during past crises.

    As of the end of the first quarter, PJAM’s total assets declined 1% year-over-year, with $39.72 billion held in associates and joint ventures and $8.79 billion in cash and deposits. Total liabilities fell 3% to $37.06 billion, including $23.68 billion in outstanding debt, while consolidated equity rose to $114.62 billion, with $85.61 billion attributable to shareholders.

    PJAM’s share price closed Thursday at $45.03, marking a 12% decline for the year to date and giving the firm a market capitalization of $73.29 billion. The group will pay a $0.175 per share dividend, totalling $284.85 million, on June 25 to shareholders of record as of May 29.

    In leadership news, PJAM Chief Operating Officer Philip Armstrong will step down from his executive role on June 30 to take up the position of lead independent director on July 1. Armstrong joined the group in September 2022 as chief strategy officer and oversaw the successful amalgamation of PJAM and Jamaica Producers Group Limited. Hall noted that as the group has grown into a complex, multi-sector, multi-country enterprise, robust governance has become more critical than ever. Armstrong will lead the development and rollout of stricter, more robust governance frameworks for each of the group’s operating businesses.

  • Technology, Advocacy and Partnerships among CHTA’s major gains under Destang

    Technology, Advocacy and Partnerships among CHTA’s major gains under Destang

    ST. JOHN’S, Antigua – As Caribbean tourism continues to navigate persistent global headwinds, outgoing Caribbean Hotel and Tourism Association (CHTA) President Sanovnik Destang is reflecting on a tenure marked by targeted progress across three core pillars: digital innovation, industry advocacy, and cross-sector collaboration, as the regional body prepares for a leadership transition later this year.

    In an interview with SKNVibes conducted on the sidelines of the recent Caribbean Travel Marketplace hosted in Antigua and Barbuda, Destang emphasized that all advances achieved during his two-year term were the product of collective team work, rather than individual achievement. “I don’t think that there’s any one accomplishment that I had. It’s a team effort,” he noted, pointing to digital transformation as one of his proudest achievements.

    Long before he assumed the presidency, Destang chaired CHTA’s founding Technology Task Force, a working group that has already published two widely circulated artificial intelligence guidebooks for regional tourism stakeholders. The team is currently finalizing its third edition, which centers on a timely and often debated topic: AI’s impact on tourism sector employment. Unlike many narratives that frame AI as a direct replacement for human workers, Destang explained the upcoming guide will outline actionable frameworks and strategies to leverage AI as a tool that enhances, rather than replaces, existing tourism workforces.

    Digital upgrading efforts under Destang’s leadership have also focused on helping local and regional hotels gain greater operational autonomy and financial stability. The association has prioritized initiatives to support hoteliers in integrating technology into day-to-day operations, growing their share of direct customer bookings, and reducing overreliance on high-commission third-party booking platforms. Strong turnout and stakeholder engagement at CHTA’s recent Direct Booking Summit served as a clear signal of widespread industry demand for these support services, Destang added.

    Beyond technology, the outgoing president highlighted major progress in policy and industry advocacy, particularly around the fast-growing short-term rental sector – a segment that now accounts for 30 to 40 percent of all visitor accommodation across the Caribbean, according to Destang. CHTA has launched the first phase of a centralized advocacy repository, with an initial focus on short-term rentals that takes a balanced, growth-oriented approach to regulation. Rather than pushing for strict rules that would force small operators out of business, Destang explained the association’s framework promotes responsible, sustainable growth for the sector, alongside efforts to raise professional standards and address tax-related policy challenges.

    A third key initiative that defined Destang’s tenure is the expansion of work by CHTA’s Linkages Committee, which partners with the Caribbean Tourism Organization (CTO) to spread the economic benefits of tourism across the entire regional economy, beyond just large hotel properties. The committee works to build stronger, mutually beneficial connections between the tourism sector and local industries including agriculture and manufacturing, ensuring more community-wide gains from regional travel growth.

    Destang credited CHTA’s board for its willingness to embrace innovative approaches and new ways of operating throughout his tenure, and expressed confidence that the initiatives launched during his term will be continued by his successor. Later this year, Dominican hotelier Gregor Nassief will take over the presidency of CHTA, stepping into a role that comes with a range of ongoing industry challenges as Caribbean tourism continues its post-pandemic recovery and adapts to shifting global travel trends.

  • The agri-tourism-hospitality nexus: shaping the modern guest experience

    The agri-tourism-hospitality nexus: shaping the modern guest experience

    The global tourism industry is in the middle of a dramatic shift, driven by evolving consumer priorities that are redefining what travellers value most when exploring new destinations. Where once visitors prioritized conventional sightseeing and predictable, standardized experiences, modern travellers now increasingly crave authentic, meaningful engagements that tie them directly to the local culture, land, and communities of the places they visit. This fundamental change in consumer expectations is forcing destinations and hospitality businesses to rethink their strategies — and a growing body of industry and academic research points to cross-sector integration between agriculture, tourism, and hospitality as the key to meeting this new demand.

    For decades, agriculture, tourism, and hospitality have operated as largely siloed, separate industries. Today, emerging consumer trends are breaking down those barriers, creating new opportunities for collaborative growth that benefits all three sectors, as well as travellers and local communities.

    The crisis of placelessness and the rise of the authenticity-seeking traveller

    One of the most pressing challenges facing modern mass tourism is the spread of what industry analysts term “placelessness” — the gradual erosion of a destination’s unique cultural and geographic identity, driven by the expansion of globalized industrial food systems. Today, nearly every popular tourist destination offers nearly identical dining options, chain hotel experiences, and standardized attractions that feel interchangeable no matter where you travel in the world. What was once seen as a marker of reliability has become a weakness, as more and more travellers grow tired of one-size-fits-all experiences that erase the unique character of a location.

    In response to this growing standardization, travellers are actively seeking out authentic, rooted experiences that connect them to local identity. This shift has given rise to a new type of traveller: the existential tourist. Unlike casual sightseers, existential tourists use local food, culinary traditions, and on-the-ground community engagement as a pathway to deep cultural connection, rather than sticking to curated, tourist-only bubble environments. For this growing segment of travellers, authenticity is no longer just a nice-to-have add-on — it has become the primary deciding factor when choosing destinations and booking travel, making it a critical market differentiator for tourism businesses.

    Traditional hospitality models that operate in isolation from local industries are no longer equipped to meet these new expectations, prompting industry leaders to explore new collaborative frameworks.

    Segmenting today’s culinary tourists to map shifting demand

    To help industry stakeholders understand these changing preferences, leading tourism researcher Anne-Mette Hjalager developed a widely used classification system for the four primary types of modern culinary travellers:

    First, recreational tourists prioritize familiarity and comfort, seeking out predictable dining experiences and well-known foods that match their existing preferences.

    Second, diversionary tourists frame food as a core part of leisure and social connection, prioritizing atmosphere and experience over deep culinary or cultural engagement.

    Third, experimental tourists seek innovative, prestige-driven, lifestyle-focused dining that blends local ingredients with upscale, sophisticated presentation.

    Finally, existential tourists — the fastest growing segment shaping modern industry trends — prioritize authenticity above all other factors. These travellers want to learn how local food is grown, participate in traditional cooking classes, visit working farmers’ markets, and eat traditional meals in community-focused local settings. Their goal is not just to eat local food, but to build a deeper understanding of the culture and identity that shapes that food.

    Mapping these distinct consumer profiles is critical for tourism and hospitality businesses looking to align their offerings with the fastest growing market demand.

    Explosive growth in agritourism and experiential travel

    The booming global agritourism market offers clear, data-backed proof of these shifting consumer preferences. Industry estimates value the global agritourism market at $70.17 billion in 2025, with projections that it will grow to $99.51 billion by 2030, representing a compound annual growth rate of 7.2%.

    The core driver of this growth is travellers’ growing desire to escape the stress and pace of urban life, in favor of slow, authentic, nature-connected experiences. Demand for farm stays and on-farm tourism activities reflects a broader consumer shift toward experiences that create personal connection to food production and rural environments. Eurostat data shows that farm-based and rural tourism stays hit 826 million nights in 2025, underscoring the mass appeal of these offerings.

    This growth in agritourism is part of a larger global shift toward experiential travel more broadly. Modern travel no longer centers solely on checking iconic landmarks off a bucket list; instead, travellers increasingly prioritize immersive, meaningful experiences that let them build personal connections to destinations and local communities. Social media has amplified demand for authentic, shareable experiences, while the post-pandemic landscape has only reinforced travellers’ desire for meaningful, in-person connection.

    Millennials are the demographic leading this shift: research shows this generation makes up nearly 50% of the global travel market, spends more than $200 billion annually on travel, and overwhelmingly prioritizes experiential travel over material purchases. Demand for authentic, wellness-focused, and adventure-driven tourism experiences is particularly strong among this demographic.

    Culinary tourism as a core driver of global travel growth

    Food has grown from a secondary consideration for travellers to one of the most powerful factors shaping travel decisions. The global food tourism market was valued at roughly $967.6 billion in 2025, with projections that it will surge to $5.06 trillion by 2035, marking an 18% annual growth rate.

    Demand for authentic culinary experiences is the biggest driver of this explosive growth. Research shows 55% of global food tourism market growth is tied to rising interest in authentic food experiences and cultural food exploration. Sixty-two percent of all travellers now factor food experiences into their destination choice, 75% of millennials actively seek out authentic local cuisine when they travel, and 40% of Generation Z travellers have booked a trip specifically based on food-related content they saw online.

    These numbers make clear that culinary tourism is no longer a niche add-on to travel. It is now a core factor that shapes destination selection, travel itineraries, and visitor engagement around the world.

    The Agri-Tourism-Hospitality Nexus: a new framework for integrated growth

    To help industry stakeholders adapt to these new market conditions, the original guest lecture introduced a new integrated model: the Agri-Tourism-Hospitality Nexus. This framework frames agriculture, tourism, and hospitality not as separate siloed sectors, but as a single connected economic and operational ecosystem, where each sector contributes unique strengths that support the whole.

    Within this model, agriculture contributes raw, irreplaceable value: production capacity, cultural heritage, and the inherent authenticity of local land and products. Hospitality contributes service expertise, experience curation, and the storytelling that turns raw agricultural assets into meaningful guest experiences. Tourism brings the market scale and consumer demand that connects travellers seeking authentic experiences to these integrated offerings.

    Unlike traditional linear supply chains, where products move one-way from producer to consumer, the Nexus operates as a circular value feedback loop. The output of one sector becomes the input for another, creating sustained mutual value for all stakeholders.

    How the Nexus reshapes the modern guest experience

    The Agri-Tourism-Hospitality Nexus transforms the entire consumer travel experience through three core mechanisms: de-commoditization of food and space, narrative-driven consumption, and multi-sensory place-making.

    First, de-commoditization turns generic food and space into unique cultural experiences. By tying every meal and stay to specific local farms, communities, traditions, and cultural histories, food stops being a simple transactional product. Consumers become active participants in local culture, rather than just purchasers of goods, creating one-of-a-kind experiences that can command premium pricing and cannot be easily replicated by competitors.

    Second, narrative-driven consumption taps into modern travellers’ desire to connect with the meaning behind the products they consume. Through storytelling, guided farm tours, culinary interpretation, and direct engagement with local producers, hospitality businesses can turn an ordinary meal into a memorable, intellectually and culturally enriching experience that resonates far longer with visitors.

    Third, multi-sensory place-making builds deep emotional connection to a destination. Agricultural landscapes bring unique visual, sensory, and environmental assets that, when combined with thoughtful hospitality services, create a strong, tangible sense of place. This deep emotional attachment drives visitor loyalty, builds long-term destination value, and generates powerful organic word-of-mouth promotion.

    Conclusion: building a sustainable future for tourism through integration

    The Agri-Tourism-Hospitality Nexus provides a actionable framework for understanding how shifting traveller expectations are reshaping the future of global tourism and hospitality. As demand for authentic experiences, experiential travel, culinary tourism, and agritourism continues to grow, deeper integration between agriculture, hospitality, and tourism unlocks new opportunities to create the meaningful experiences modern travellers crave.

    When these three sectors operate as a connected ecosystem, every stakeholder gains tangible benefits: local farmers gain direct access to premium markets and new revenue streams, hospitality businesses develop one-of-a-kind, terroir-driven identities that set them apart from competitors, and travellers get the authentic, meaningful experiences they actively seek.

    In an era where authenticity has become the most defining feature of modern tourism demand, the integrated relationship between agriculture, hospitality, and tourism will only grow in importance as the foundation of the future of the global guest experience.

    This article is adapted from a guest lecture delivered at Monroe College, St. Lucia, written by Azubah Adams, a hospitality and tourism development professional focused on sustainability. The opinions expressed are the author’s own and do not reflect the editorial stance of iWitness News.

  • Barbados and British Virgin Islands tourism leaders receive top regional recognition at CTO awards

    Barbados and British Virgin Islands tourism leaders receive top regional recognition at CTO awards

    The Caribbean Tourism Organization (CTO) capped the first day of New York’s 2026 Caribbean Week with its third annual Caribbean Women in Tourism Leadership Awards, a ceremony that celebrated outstanding female leadership across the region’s tourism sector and laid groundwork for the next generation of women industry leaders. Held on Monday at the InterContinental New York Times Square, the event drew tourism stakeholders, industry executives and government officials from across the Caribbean and beyond to honor women whose work has strengthened the sector, driven destination growth and inspired emerging talent.

    Two leading industry figures took home the event’s top annual awards, selected via peer voting among regional tourism professionals. Andrea Franklin, who serves dual roles as Chief Executive Officer of Barbados Tourism Marketing Inc. and Chair of the CTO Board of Directors, claimed the 2026 title of Director of Tourism of the Year. Luce Hodge-Smith, Junior Minister of Tourism and Culture for the British Virgin Islands, was named 2026 Minister/Commissioner of Tourism of the Year for her leadership in advancing the territory’s tourism profile.

    The CTO Secretary-General’s Distinguished Service Award was presented to Dr. Lisa Indar, Executive Director of the Caribbean Public Health Agency (CARPHA). Dr. Indar was recognized for her transformative work building safer, healthier tourism destinations across the Caribbean while advancing industry-wide adoption of sustainable tourism practices that balance growth with environmental and community stewardship.

    In one of the ceremony’s most anticipated segments, six pioneering women with decades of impact on Caribbean tourism were inducted into the Caribbean Women in Tourism Leadership Hall of Fame. The 2026 inductees are Valérie Damaseau, Commissioner of Tourism and Culture for Saint-Martin; Marsha Henderson, Minister of Tourism for St. Kitts and Nevis; Rosa Harris, Director of Tourism for the Cayman Islands; Beverly Nicholson Doty, CEO of Figment Design; Petra Roach, Director of Sales and Marketing at Wyndham Grand Barbados; and Karolin Troubetzkoy, Executive Director of Marketing and Operations at St. Lucia’s Anse Chastanet and Jade Mountain Resorts. Each inductee was honored for their enduring contributions that have shaped the Caribbean tourism landscape over decades of service.

    The event featured a keynote address from Christine Valls, Managing Director for Latin America and the Caribbean at United Airlines. Drawing on her decades of experience in the aviation and travel sector, Valls shared insights on what drives effective female leadership, the critical role of innovation and cross-sector collaboration in advancing tourism growth, and the urgency of creating accessible pathways for women to advance into leadership roles across the industry.

    Beyond honoring established leaders, the ceremony marked two major new initiatives designed to lift up the next generation of Caribbean women in tourism. Organizers launched the *From Her to Her: From Today’s Female Leaders to Tomorrow’s Tourism Stars* scholarship program, a scholarship fund created to support young Caribbean women pursuing tourism-focused higher education and career entry. A live auction held during the awards ceremony raised an initial US$13,000 for the fund, which will be administered by the CTO Foundation. Going forward, the fund will award annual financial grants to high-potential female Caribbean students enrolled in tourism-related academic programs.

    Attendees also got an exclusive first look at *From the Sea Suite*, a new print magazine from CTO that centers the stories, achievements and professional insights of influential women working across all segments of Caribbean tourism. The publication is scheduled for its official global print launch this October at the CTO State of the Tourism Industry Conference, which will be hosted in Georgetown, Guyana from October 5 to 9, 2026.

    In a statement shared after the event, CTO leadership emphasized that the awards program, backed by the Antigua and Barbuda Tourism Authority, fills a critical gap in recognizing the outsized contribution of women to Caribbean tourism, one of the region’s most vital economic sectors. Beyond recognition, the initiative seeks to build a legacy of mentorship and opportunity that will keep the Caribbean tourism industry growing and inclusive for decades to come.

  • Cuba and Haiti affect Latin American growth

    Cuba and Haiti affect Latin American growth

    In its latest 2026 regional economic outlook published in June, the United Nations Economic Commission for Latin America and the Caribbean (ECLAC) has revised down its projected growth rate for the region from the 2.3% forecast made in December 2025 to 2.2%, with prolonged crises in Cuba and Haiti identified as the primary factors dragging down the regional average.

    The UN agency’s analysis warns that 24 out of the 33 economies in the region are set to see an expansion slowdown in 2026, extending a stretch of four consecutive years where regional growth has hovered around 2.3% — a trend ECLAC characterizes as a persistent low-growth trap that limits job creation and poverty reduction across the bloc.

    Cuba is expected to register the sharpest contraction across the region, with ECLAC projecting a 6.5% economic shrinkage for 2026, a deterioration from the 3.8% drop the island recorded in 2025. Haiti, meanwhile, is forecast to shrink by 1.4% this year — a smaller decline than 2025’s 2.7% contraction, but still a continued drag on overall regional performance.

    The impact of these two struggling economies on the regional average is substantial: when the two crisis-hit nations are excluded from calculations, the 2026 average growth for the rest of Latin America and the Caribbean climbs to 3.9%, a modest uptick from the 3.8% expansion the region excluding Cuba and Haiti posted in 2025. This gap makes clear the outsized distorting effect of the two countries’ ongoing economic collapses on regional aggregate data.

    Cuba’s economic crisis has deteriorated dramatically in the first half of 2026, triggered by a critical loss of oil imports. Following the capture of Venezuelan leader Nicolás Maduro on January 3, Cuba lost 80% to 90% of its crude oil supplies from Venezuela, which amounted to between 25,000 and 35,000 barrels of oil per day. Shortly after, Mexico suspended all oil shipments to Cuba on January 9 under pressure from the United States, and former U.S. President Donald Trump signed Executive Order 14380 on January 29, which enforces secondary tariffs on any third country that continues to export oil to the island. This oil supply shock has gutted Cuban energy infrastructure and industrial production.

    Independent analysts have offered an even grimmer outlook for Cuba: The Economist Intelligence Unit projected in February 2026 that the Cuban economy will contract by 7.2% this year, a deeper shrinkage than ECLAC’s official estimate. In contrast to the collapse in Cuba, the region sees stark growth disparities, with Guyana leading all regional economies at a projected 16.3% expansion in 2026, driven by booming output from its fast-growing offshore oil sector. Venezuela follows with a projected 6.5% growth, while Nicaragua and Paraguay are both forecast to expand by 4.5% this year.

    External headwinds are also adding pressure to vulnerable economies across the region. In the first three weeks of April 2026, the price of West Texas Intermediate crude oil was 74% higher than the average price recorded in December 2025, creating new global inflationary pressures that hit already weakened economies like Cuba’s particularly hard.

    Cuban President Miguel Díaz-Canel’s administration has repeatedly pointed to the longstanding U.S. trade embargo as the core cause of the country’s economic collapse, and ECLAC’s data confirms that Cuba is by far the worst-performing economy in the entire Latin American and Caribbean region. Notably, the Cuban government’s official 2026 projection puts economic growth at 1% for the year, a figure that independent economists widely dismiss as completely disconnected from on-the-ground economic realities.

  • Iberojet launches direct flights between Barcelona and Punta Cana for summer 2026

    Iberojet launches direct flights between Barcelona and Punta Cana for summer 2026

    Caribbean tourism’s leading sun-and-sea destination, Punta Cana, is set to gain a new direct air link to Europe this summer, as Spanish leisure carrier Iberojet prepares to launch its first nonstop service between Barcelona and the Dominican resort hub starting June 21. The new route, timed to expand connectivity between Spain and the Dominican Republic ahead of the 2026 peak summer travel season, will operate on a weekly Sunday schedule through the end of September, giving vacationers and other travelers a seamless, connection-free route to one of the Caribbean’s most sought-after getaways.

    This new Barcelona departure marks the third Iberian Peninsula gateway to the Dominican Republic in Iberojet’s growing route network, which already offers year-round nonstop flights from Madrid (Spain) and Lisbon (Portugal). By adding the Catalan capital to its route map, the airline is positioning itself to meet surging demand across three distinct traveler segments: international tourists seeking easy access to Punta Cana’s beaches, business travelers moving between the two markets, and Dominican diaspora members residing across Spain who want more convenient travel options to visit home.

    The new service carries particular significance for the large Dominican community based in Catalonia, who previously had to travel to Madrid or connect through other European hubs to reach the Dominican Republic. The nonstop route cuts out layover delays and extra travel time, creating a far more convenient journey between the two countries. Beyond serving resident communities, industry leaders expect the new flight to drive a measurable uptick in tourist arrivals to Punta Cana during the busiest summer travel months, supporting local hospitality and service businesses.

    As a subsidiary of Ávoris Corporación Empresarial, the travel division of global tourism group Barceló Group, Iberojet operates a contemporary fleet of Airbus commercial aircraft spanning wide-body models including the A350 and A330, plus the narrow-body A320 for shorter-haul services. Company representatives emphasized that the launch of the Barcelona-Punta Cana route aligns with the carrier’s long-term strategy to strengthen strategic air connections between the Dominican Republic and key source markets across Europe, cementing its position as a leading provider of transatlantic leisure travel to the Caribbean.

  • AMCHAMDR joins regional leaders at BFA 2026 Conference

    AMCHAMDR joins regional leaders at BFA 2026 Conference

    The 2026 Business Future of the Americas (BFA) summit, one of the Western Hemisphere’s most high-profile collaborative business gatherings, has brought over 300 cross-sector leaders from more than 20 nations to Quito, Ecuador, with the American Chamber of Commerce of the Dominican Republic (AMCHAMDR) among the key participating delegations. This year’s convening, focused on tackling pressing topics ranging from cross-border trade to regional investment and hemispheric security, was hosted by AMCHAM Quito in strategic partnership with the U.S. Chamber of Commerce and the Association of American Chambers of Commerce in Latin America and the Caribbean (AACCLA).

    High-level stakeholders anchored the summit’s opening and core discussions, including Ecuadorian President Daniel Noboa, senior members of Ecuador’s national government, and official representatives from the U.S. Department of State and the U.S. Embassy in Ecuador. Central to the summit’s agenda was the goal of deepening robust economic ties between the United States and the broader Latin American region, while framing intentional public-private partnership as the most impactful engine for inclusive growth and long-term regional stability.

    In his keynote remarks, Edwin De los Santos, current AACCLA Chairman and former president of AMCHAMDR, underscored three non-negotiable pillars for lasting economic progress: consistent regional security, institutional trust that fosters stakeholder confidence, and unwavering adherence to the rule of law. All three, he emphasized, are foundational to attracting foreign direct investment and supporting equitable, sustainable development across the hemisphere. Beyond these core themes, targeted panel sessions delved into a range of timely, high-stakes topics: building more resilient global supply chains, strengthening cross-regional energy security, accelerating inclusive digital transformation, upgrading cross-sector cybersecurity infrastructure, and leveraging the growing influence of artificial intelligence to boost Latin America’s global competitive standing.

    William Malamud, Executive Vice President of AMCHAMDR, noted that every topic on the 2026 BFA agenda aligns directly with the Dominican chamber’s core long-term strategic priorities. He reiterated that sustained progress across the hemisphere depends on collective action to build secure, transparent, and consistently reliable investment climates in every market across the Americas. Malamud also pointed to a unique, time-sensitive opportunity for Latin America: as global corporations and governments reconfigure their global supply chain networks, the region is well-positioned to establish itself as a competitive, trustworthy global trade and manufacturing partner.

    The Dominican Republic’s delegation also included Rocío Velarde, general manager of Citibank N.A. in the Dominican Republic and a sitting member of AMCHAMDR’s board of directors, who contributed to the summit as an invited panelist. Through its active participation in the 2026 BFA summit, AMCHAMDR has reaffirmed its ongoing commitment to advocating for policies that elevate the Dominican Republic’s global competitiveness, while working toward a shared vision of a more integrated, secure, and broadly prosperous Western Hemisphere.

  • Superintendency of Banks warns public about fake ‘Pro Renta’ investment platform

    Superintendency of Banks warns public about fake ‘Pro Renta’ investment platform

    In the Dominican Republic’s capital Santo Domingo, the country’s top banking oversight body has issued an urgent public alert over a brazen fraudulent investment scam that is misleading social media users by impersonating the regulator. The scheme, which operates under the brand name “Pro Renta”, illegally co-opts the official branding and public credibility of the Superintendency of Banks (SB) to sell unvetted, non-existent financial management and investment services to unsuspecting consumers.

    In an official public statement released Wednesday, the regulator confirmed that the scammers have replicated the agency’s official visual identity down to precise details, and have even falsely used the likeness of current Superintendent Alejandro Fernández W. to lend the scheme an air of legitimacy. The watchdog characterized the fraudulent social media campaign as deliberately misleading, false, and malicious in its intent to defraud consumers.

    The Superintendency of Banks emphasized that all of its official statements, regulatory updates, and public communications are only distributed through verified, pre-authorized institutional channels and its official government website. No unapproved third-party offers bearing the agency’s branding should be treated as legitimate, the regulator added.

    To protect consumers from financial harm, the agency has urged all Dominican citizens to practice due diligence by cross-checking the authenticity of any online investment offer before sharing it across social platforms or committing any personal funds to the opportunity. The regulator also reaffirmed its ongoing commitment to safeguarding all participants in the Dominican Republic’s financial system, rooting out financial fraud, and holding bad actors accountable for deceptive practices.

    In closing, the Superintendency called on the public to maintain heightened vigilance against any fraudulent operation that leverages the public trust in government regulatory institutions to carry out scams, reminding consumers that legitimate financial regulators do not endorse private investment schemes through unsolicited social media content.

  • From Jamaica to New York: Netania Mundell’s journey into global marketing

    From Jamaica to New York: Netania Mundell’s journey into global marketing

    Career paths are rarely the straight, pre-planned trajectories many young professionals are taught to pursue. For 29-year-old Jamaican marketing leader Netania Mundell, the journey from a university accounting major to a leading digital activation role at global beverage giant Diageo is a masterclass in following natural talent rather than rigid expectations, and turning personal roots into professional superpower.

    Today, Mundell serves as an associate of digital activation at Diageo, where she shapes marketing strategies for two of the company’s most iconic North American brands: Guinness and Smirnoff Ice. What makes her approach unique is a perspective rooted in her Jamaican upbringing: she rejects the idea that brands only exist in corporate boardrooms and polished campaign documents, instead arguing that brands live in the everyday moments, casual conversations, shared memories and cultural rituals of consumers. This people-first perspective blends perfectly with her own multi-faceted identity as a strategist, storyteller, cultural observer and creative.

    Mundell’s personality is as dynamic as the brands she elevates: quick-witted, unapologetically authentic, and infectiously upbeat, she brings humor and transparency to every project she touches. “I am very unserious in the best way,” she joked in an interview. But beneath that approachable, lighthearted energy lies a sharp, empathetic professional with an innate ability to read people, culture and untold brand stories — a skill that has become her greatest competitive advantage.

    That instinct was cultivated long before she entered the global marketing industry, in the close-knit, family-focused community of Portmore, St Catherine, where she grew up. Her father emerged as one of the most foundational influences in her life, offering unwavering support that helped her build the confidence to take calculated risks even when the future was unclear. That confidence would prove critical during her years at the University of the West Indies, where she enrolled to study accounting, only to slowly realize that the career she had mapped out on paper did not align with the creative, people-focused person she was growing into.

    Rather than sticking to the pre-planned path, Mundell began leaning into her growing curiosity for marketing: she got involved in campus activities, joined the UWI Marketing Association, and opened herself up to new opportunities. That proactive choice paid off in 2018, when she landed a coveted internship at telecommunications leader Digicel, her first formal step into the marketing industry.

    Around the same time, a second side of her professional identity began to grow organically on social media. On Twitter, audiences connected deeply with Mundell’s sharp humor, unique insights and unfiltered personality. As she navigated the uncertainty of post-graduation life, she turned that online following into the Netschat podcast, honing her skills as a creator and conversationalist. In an era where modern brands are expected to be culturally attuned, digitally native and emotionally intelligent, that hands-on creator experience gave her a rare edge that traditional marketing training could not provide.

    One of Mundell’s most celebrated early career wins came during her time at agency Mystique, where she managed the KFC Jamaica account. For 2022 Valentine’s Day, she pitched a simple but clever concept for an Instagram Reel: a romantic video shot in the style of a love letter addressed to a partner, with a playful twist that revealed the deep affection was actually for KFC’s popular Big Deal meal. The campaign went viral organically, becoming one of the highest-performing organic Instagram posts in the brand’s history — a testament to Mundell’s ability to blend humor, relatability and smart brand storytelling.

    For Mundell, what draws her to marketing above all else is the space the industry creates for unconventional, creative ideas. In 2022, she made another bold life and career choice: she left Jamaica to pursue a master’s degree in Integrated Marketing at New York University, rooting herself in one of the world’s most dynamic marketing hubs while still carrying her Jamaican identity with pride.

    Now at Diageo, she brings that unique perspective to a global business environment that demands equal parts creative innovation and disciplined execution. Focused on Diageo’s North American beer and flavored malt beverage segment, she manages brand strategy for Guinness and Smirnoff Ice across the region, but sees her role as far more than just a regional position: it is an opportunity to infuse global marketing with the cultural awareness and human-centered perspective she gained growing up in Jamaica.

    Looking ahead, Mundell expects her career to continue evolving at the intersection of creative storytelling, data-driven strategy and human behavior. Her advice for young professionals navigating uncertain career paths echoes her own journey: “Passion really has to drive you to be prepared. When opportunity comes knocking, you never want to be caught unprepared.” For Mundell, that willingness to follow her passion and prepare for new opportunities has turned an unconventional accounting detour into a thriving global marketing career.

  • Integrated Diaspora Service moves to bridge gap between Jamaicans globally

    Integrated Diaspora Service moves to bridge gap between Jamaicans globally

    New York-based technology-enabled service provider Integrated Diaspora Services (IDS) has named Jamaican-American community leader Peter Gracey as its new Global Development Representative, in a strategic move designed to amplify empowerment for Jamaicans living across the globe and scale the company’s core operations.

    The appointment aligns with IDS’ broader growth goals: expanding its global agent network, strengthening its end-to-end real estate service capabilities, and leveraging digital tools to deliver faster, more transparent client experiences under its unified one-stop service model, the firm confirmed in an official press announcement.

    IDS Chief Executive Officer and Diaspora specialist Nordia Teape explained that the hire comes amid a sharp uptick in demand for the company’s services from Jamaicans in the global diaspora. Gracey, who most recently served as the Southern U.S. representative for the Global Jamaica Diaspora Council and has long worked as a Jamaican community activist, brings deep, on-the-ground credibility to the role, Teape noted.

    Teape shared that demand for IDS’ offerings has jumped 50% in a recent short period, a surge she attributes largely to the launch of the company’s dedicated hotline 777 JAMAICA, which allows diaspora members to send service inquiries via text and guarantees a response within 24 hours. This year alone, IDS has rolled out a custom digital transaction portal that gives clients real-time access to track their service progress from any location worldwide.

    Since its founding in 2020, IDS has connected with more than 7,000 diaspora Jamaicans through a mix of service transactions, one-on-one consultations, educational webinars, and digital outreach campaigns. While most service requests currently come from the U.S., U.K., and Canada — home to the world’s largest concentrations of Jamaican diaspora communities — the firm serves Jamaicans across Europe, Africa, the broader Caribbean, and other regions globally.

    Teape, who co-founded IDS in March 2021 alongside business partner Percival Hurditt, emphasized that the company was built to solve a longstanding unmet need. “Jamaicans abroad wanted to invest in their homeland but could not always be in the country physically, so we built IDS to be their trusted hands on the ground,” she said. “We are Jamaicans; we know what it feels like to want to invest back home but don’t know who to trust.” With a combined 30 years of experience in the banking sector, Teape and Hurditt witnessed firsthand the bureaucratic barriers and frustrations diaspora Jamaicans encountered when trying to conduct business in Jamaica, motivating them to launch the firm.

    Today, IDS offers a broad range of localized services for diaspora members, including land title processing, banking support, business facilitation, investment navigation, government service assistance, and full-service real estate support spanning purchases, sales, property maintenance, and land surveying. The firm’s core mission centers on accessibility, efficiency, and trust, with a vision focused on empowering the diaspora rather than overhauling existing systems — a approach rooted in centering the actual needs of the community it serves, Teape explained.

    Teape noted that Gracey’s proven skills in communication, community connection, and leadership align perfectly with IDS’ core mission. As global development representative, Gracey will lead new global awareness initiatives to ensure all Jamaicans around the world know they now have access to a centralized, verified, and trusted hub for critical in-country services. The appointment also underscores IDS’ commitment to innovative diaspora engagement, with the company preparing to launch a new mobile app called Jamaica Stay Connected in the near future. The app will act as a single gateway for users to access all IDS services, creating a seamless, user-friendly experience for Jamaicans seeking assistance, guidance, and investment opportunities back home.

    Speaking to the Jamaica Observer, Gracey framed his new role as an opportunity to educate, unify, and empower the global Jamaican diaspora by closing gaps between community needs and access to resources, public awareness, actionable steps, and economic opportunities. IDS currently collaborates closely with multiple Jamaican national institutions, including the country’s Ministry of Foreign Affairs and Foreign Trade, Jamaica National, and the Passport, Immigration and Citizenship Agency (PICA).