No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Wednesday, May 13, 2026
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Economy

Hurricane Melissa Blasts Jamaica’s Economy

by TheAdviserMagazine
6 months ago
in Economy
Reading Time: 2 mins read
A A
Hurricane Melissa Blasts Jamaica’s Economy
Share on FacebookShare on TwitterShare on LInkedIn


 

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

Tags: blastseconomyHurricaneJamaicasMelissa
ShareTweetShare
Previous Post

Canadian Govt To Kill 400 Ostriches To Prevent COVID Research

Next Post

Globalists Cheer Mamdani’s Win | Armstrong Economics

Related Posts

edit post
Market Talk – May 12, 2026

Market Talk – May 12, 2026

by TheAdviserMagazine
May 12, 2026
0

ASIA: The major Asian stock markets had a mixed day today: • NIKKEI 225 increased 324.69 points or 0.52% to...

edit post
Coffee Break: Armed Madhouse – Ageing Patriots

Coffee Break: Armed Madhouse – Ageing Patriots

by TheAdviserMagazine
May 12, 2026
0

For more than four decades, the Patriot defensive missile system has occupied a central place in the architecture of American...

edit post
Markets raise chances for a Fed rate hike following hot inflation report

Markets raise chances for a Fed rate hike following hot inflation report

by TheAdviserMagazine
May 12, 2026
0

A customer shops for produce in an H-E-B grocery store on May 11, 2026 in Austin, Texas. Brandon Bell |...

edit post
Someone Always Knows First | Mises Institute

Someone Always Knows First | Mises Institute

by TheAdviserMagazine
May 12, 2026
0

April 9, 2025: The White House has spent four days insisting the tariffs are here to stay. The president himself...

edit post
The Inconsistencies of John Stuart Mill

The Inconsistencies of John Stuart Mill

by TheAdviserMagazine
May 12, 2026
0

Many people today consider the prospect of a socialist utopia to be very appealing. Even if they do not believe...

edit post
A Fairness Trilemma in Hiring

A Fairness Trilemma in Hiring

by TheAdviserMagazine
May 12, 2026
0

Economists like to draw triangles. In trade, you can’t have high tariffs, no retaliation, and unchanged prices. In monetary policy,...

Next Post
edit post
Globalists Cheer Mamdani’s Win | Armstrong Economics

Globalists Cheer Mamdani’s Win | Armstrong Economics

edit post
Back to (Mamdani’s) Future | Mises Institute

Back to (Mamdani's) Future | Mises Institute

  • Trending
  • Comments
  • Latest
edit post
Gavin Newsom issues ‘final warning’ amid California’s dire housing crisis — what’s at stake for millions of residents

Gavin Newsom issues ‘final warning’ amid California’s dire housing crisis — what’s at stake for millions of residents

May 3, 2026
edit post
Florida Warning: With Senior SNAP Benefits Averaging 8/Month, Thousands Risk Losing Assistance in 2026

Florida Warning: With Senior SNAP Benefits Averaging $188/Month, Thousands Risk Losing Assistance in 2026

April 27, 2026
edit post
Minnesota Wealth Tax | Intangible Personal Property Tax

Minnesota Wealth Tax | Intangible Personal Property Tax

May 6, 2026
edit post
10 Cheapest High Dividend Stocks With P/E Ratios Under 10

10 Cheapest High Dividend Stocks With P/E Ratios Under 10

April 13, 2026
edit post
Exclusive: America’s largest Black-owned bank launches podcast with mission to unlock hidden shame holding back generational wealth

Exclusive: America’s largest Black-owned bank launches podcast with mission to unlock hidden shame holding back generational wealth

April 29, 2026
edit post
NYC Mayor Mamdani knocked Ken Griffin in pied-a-terre tax promo. His firm calls the move ‘shameful’

NYC Mayor Mamdani knocked Ken Griffin in pied-a-terre tax promo. His firm calls the move ‘shameful’

April 23, 2026
edit post
Wednesday’s Economic Calendar | Seeking Alpha

Wednesday’s Economic Calendar | Seeking Alpha

0
edit post
General Motors Lays Off Hundreds of IT Workers Globally

General Motors Lays Off Hundreds of IT Workers Globally

0
edit post
What Is the CLARITY Act? The US Crypto Bill That Could Reshape Digital Asset Regulation This  Week

What Is the CLARITY Act? The US Crypto Bill That Could Reshape Digital Asset Regulation This  Week

0
edit post
Someone Always Knows First | Mises Institute

Someone Always Knows First | Mises Institute

0
edit post
Japanese snack giant resorts to black-and-white bags of potato chips as Iran War literally sucks color out of the world

Japanese snack giant resorts to black-and-white bags of potato chips as Iran War literally sucks color out of the world

0
edit post
Jensen Huang is joining Trump’s China trip after the U.S. president called the Nvidia CEO

Jensen Huang is joining Trump’s China trip after the U.S. president called the Nvidia CEO

0
edit post
Wednesday’s Economic Calendar | Seeking Alpha

Wednesday’s Economic Calendar | Seeking Alpha

May 13, 2026
edit post
Jensen Huang is joining Trump’s China trip after the U.S. president called the Nvidia CEO

Jensen Huang is joining Trump’s China trip after the U.S. president called the Nvidia CEO

May 12, 2026
edit post
First Hyperliquid ETF Launch: Day One Volume Hits .8M–Key Details

First Hyperliquid ETF Launch: Day One Volume Hits $1.8M–Key Details

May 12, 2026
edit post
The Banking Rules That Quietly Delay Early Retirement for Millions of Older Americans

The Banking Rules That Quietly Delay Early Retirement for Millions of Older Americans

May 12, 2026
edit post
Electromed outlines plan to add 4-5 sales reps next year as Smart Order adoption reaches 40% of orders (NYSE:ELMD)

Electromed outlines plan to add 4-5 sales reps next year as Smart Order adoption reaches 40% of orders (NYSE:ELMD)

May 12, 2026
edit post
Financial Planning summit asks: Do more clients need access to alts?

Financial Planning summit asks: Do more clients need access to alts?

May 12, 2026
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • Wednesday’s Economic Calendar | Seeking Alpha
  • Jensen Huang is joining Trump’s China trip after the U.S. president called the Nvidia CEO
  • First Hyperliquid ETF Launch: Day One Volume Hits $1.8M–Key Details
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.