Close Menu
    Facebook X (Twitter) Instagram
    TRENDING :
    • Current Federal Small Business Tax Rate
    • Target joins a rank of companies using a points system to track employee attendance
    • US Debt Exceeds 100% Of GDP For The First Time Since World War II
    • Google went full-on soccer nerd to design its World Cup doodles
    • Canada Taps Germany For Naval Demand
    • Physical media is dying. So is the idea that you own what you buy
    • Cuba’s Power Grid Has Collapsed
    • The career ladder is changing
    Populist Bulletin
    • Home
    • US Politics
    • World Politics
    • Economy
    • Business
    • Headline News
    Populist Bulletin
    Home»Economy»Hurricane Melissa Blasts Jamaica’s Economy
    Economy 2 Mins Read

    Hurricane Melissa Blasts Jamaica’s Economy

    Economy 2 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email Copy Link
    Follow Us
    Google News Flipboard
    Share
    Facebook Twitter LinkedIn Pinterest Email


     

    Hurricane Melissa reached maximum Category 5 strength when it made landfall in Jamaica. The sudden onslaught of destruction cannot be described unless you’ve seen the apocalyptic land of a coastal town that has received a direct hit from a hurricane. The damage from Melissa is unknown, but preliminary calculations suggest it could be one-third of the nation’s GDP.

    Jamaican Prime Minister Andrew Holness said the damage could be up to 32% of last year’s GDP. The $7 billion in damage is a conservative estimate. “Experts describe Melissa to be on the very edge of what is physically possible in the Atlantic Ocean, a storm powered by record sea temperatures,” he said. “Its force was so immense that seismographs hundreds of miles away registered its passage.” Holness said that the nation’s infrastructure must be reformed to protect it from future weather events.

    Economic output is likely to decline by a minimum of 13% due to the damage as the nation heavily relies on tourism. Tourism directly accounts for 9.5% to 10.5% of Jamaica’s GDP, but accounts for 30% when factoring in the indirect effects. Last year, the nation experienced record-breaking revenue after generating $4.3 billion. The government had anticipated it would surpass last year’s record and secure $5 billion from tourism this year.

    Agriculture is expected to be disrupted due to the hurricane, a sector that contributes 17.4% to Jamaica’s GDP. The loss will be more significant for the nation as domestic production accounts for a significant portion of the nation’s fresh produce supply.

    The United States is providing $12 million in urgent aid to Jamaica as part of a larger $24 million package for the Caribbean. Jamaica heavily relies on the US for imports, with the total percentage of goods from the US reaching up to 60% annually. It’s a small island with a small economy. The nation was on the up before the hurricane, and it will take time to recover. Even the Tampa Bay area in Florida is still working on repairs nearly a year after Hurricane Helene and Milton hit back-to-back. My condolences are with the Jamaican people recovering from this tragedy.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    US Debt Exceeds 100% Of GDP For The First Time Since World War II

    July 7, 2026

    Canada Taps Germany For Naval Demand

    July 7, 2026

    Cuba’s Power Grid Has Collapsed

    July 7, 2026
    Top News
    Business 3 Mins Read

    President Trump wants his face on a coin. Maybe he shouldn’t

    Business 3 Mins Read

    On March 19, the U.S. Commission of Fine Arts voted to approve a commemorative gold…

    Augmented reality may be the key to fire safety

    November 4, 2025

    Mamdani Starts Governing by Getting the Imagery Right

    January 15, 2026

    Tech leads market near records while D.C.’s shutdown stalls jobs data

    October 3, 2025
    Top Trending
    Business 12 Mins Read

    Current Federal Small Business Tax Rate

    Business 12 Mins Read

    In relation to federal small business tax rates, comprehending the distinctions between…

    Business 3 Mins Read

    Target joins a rank of companies using a points system to track employee attendance

    Business 3 Mins Read

    Starting this September, Target will start tracking store and warehouse employees’ unexcused…

    Economy 4 Mins Read

    US Debt Exceeds 100% Of GDP For The First Time Since World War II

    Economy 4 Mins Read

    The United States has crossed a milestone that Washington has spent decades…

    Categories
    • Business
    • Economy
    • Headline News
    • Top News
    • US Politics
    • World Politics
    About us

    The Populist Bulletin was founded with a fervent commitment to inform, inspire, empower and spark meaningful conversations about the economy, business, politics, government accountability, globalization, and the preservation of American cultural heritage.

    We are devoted to delivering straightforward, unfiltered, compelling, relatable stories that resonate with the majority of the American public, while boldly challenging false mainstream narratives that seem to only serve entrenched elitists, and foreign interests.

    Top Picks

    Current Federal Small Business Tax Rate

    July 7, 2026

    Target joins a rank of companies using a points system to track employee attendance

    July 7, 2026

    US Debt Exceeds 100% Of GDP For The First Time Since World War II

    July 7, 2026
    Categories
    • Business
    • Economy
    • Headline News
    • Top News
    • US Politics
    • World Politics
    Copyright © 2025 Populist Bulletin. All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.