Jamaica, an interesting Jamaica, an interesting investing opportunity?investing opportunity?
Jamaica 1494-2006
ContentContent
• Geography
• History
• Politics
• Economic Condition
• Demographics
GeographyGeography
• Location:Caribbean, island in the Caribbean Sea, south of Cuba
• Climate:tropical; hot, humid; 27°C
• Terrain:mostly mountains, with narrow, discontinuous coastal plain
• Lowest point: Caribbean Sea 0 m Highest point: Blue Mountain Peak 2,256 m
• Natural hazards: hurricanes (especially July to November)
HistoryHistory
I. Pre-Colombian Jamaica
- Arawaks
II. The Spanish Occupation, 1494-1655
III. The Slave Economy, 1655-1838
- British occupation
IV. The Development of the Peasantry. 1838-1938
-Coffee, bananas
V. The National Movement and Decolonization, 1938-1962
VI. Political Independence, 1962-1972
• Christopher Columbus visited the island in 1494 and this began Spain rule.
• It became a Spanish colony in 1509 • British captured the island in 1655 • Jamaica gained full independence within the
British Commonwealth in 1962.• Jamaica is the largest English speaking
Caribbean island. It is the third largest island in the West Indies. It is 90 miles south of Cuba.
PoliticsPolitics• Parliamentary Representative Democracy
– Executive branch of government– Popular sovereignty
• 1962 Constitution established a parliamentary system (UK) with Senate and House of Representatives
• Queen Elizabeth II: Chief of State, elects a Governor General (ceremonial role), on the advise of the Prime Minister as her representative in Jamaica
• Independent and Commonwealth Realm (August 6, 1962)• Constitutional safeguards include freedom of speech, press, worshi
p, movement, and association
PoliticsPolitics• Stable, however economical problems have exacerbated
social problems• Jamaica Labour Party (JLP) and the People’s National Party
(PNP)• The National Democratic Movement (NDM), was created in O
ctober 1995
• 1993 victory of Percival James Patterson (after Michael Manely stepped down in 1992 for health reasons), was the first time Jamaican political party won 3 consecutive general elections since the introduction of universal suffrage to Jamaica in 1944.
• In March, 2006, Portia Simpson-Miller was appointed Jamaica's seventh Prime Minister. She is the first woman in the country's history to hold the position of Prime Minister of Jamaica.
Economic conditionEconomic condition
Quick Facts:• GDP per capita: $4100• Population below poverty line: 19.7%• Unemployment Rate: 15%• Exchange Rate: US$1= J$62.5
Major economic activities:• Tourism– English speaking and good weather• Mining– Bauxite and Aluminum• Agriculture– Food and banana• Music and Film– Bob Marley,
Shaggy, Sean Paul
Economic conditionsEconomic conditionsEconomic history of Jamaica
1655 Slave Economy
1820-1824 World’s leading sugar exporting nation
1830-1838 Slavery was formally abolished
1962-1972 Strong economic growth-- Independent
1972-1980 Setback-25% decrease in GDP
1980-1985 Closure of 1st and 3rd largest Aluminum
producers
1980-1990 Rose in Tourism and garment sectors
1991 Economic liberalization and stabilization
Reduced inflation from 80.2% to 7.2%
• Official Name: Jamaica• Capital City: Kingston • Population: 2,605,800 • Climate: Tropical. Hot, Humid• Language: The official language is English but Patois, a dialect, is widely spoken
across the island
• Ethnic Groups: Black (90.9%), mixed (7.3%), East Indian (1.3%), white (0.2%), Chinese (0.2%)
• Religion: The majority of Jamaicans are Christian. But also exist churches like Methodist, Catholic, Seventh-day Adventist, Anglican, to Mormon and Rastafarian
• Jamaica is known primarily for its Rastafarian religion, which has several unique practices. They believe that Haile Salassie, the former leader of Ethiopia, is their leader. They believe in the spiritual use of Ganja.
• Flag: The Jamaican flag has 3 colors, green, black and gold.
DemographicsDemographics
SourceSource
• Wikipedia The Free Encyclopedia, Politics of Jamaica, 2006 http://en.wikipedia.org/wiki/Politics_of_Jamaica , World Wide Web
• www.investjamaica.com