Jamaica Rushes to Prepare for Peak Tourism Season as It Digs Out from Hurricane Melissa

Drone view of a destroyed church and damaged buildings, in the aftermath of Hurricane Melissa, in Black River, Jamaica, November 2, 2025. (Reuters)
Drone view of a destroyed church and damaged buildings, in the aftermath of Hurricane Melissa, in Black River, Jamaica, November 2, 2025. (Reuters)
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Jamaica Rushes to Prepare for Peak Tourism Season as It Digs Out from Hurricane Melissa

Drone view of a destroyed church and damaged buildings, in the aftermath of Hurricane Melissa, in Black River, Jamaica, November 2, 2025. (Reuters)
Drone view of a destroyed church and damaged buildings, in the aftermath of Hurricane Melissa, in Black River, Jamaica, November 2, 2025. (Reuters)

Jamaica’s peak tourism season is one month away, and officials in the hurricane-ravaged nation are rushing to rebuild from the catastrophic Category 5 storm that shredded the island’s western region.

Before Hurricane Melissa hit on Oct. 28, the government expected Jamaica’s tourism industry to grow by 7% this winter season and was preparing to welcome an estimated 4.3 million visitors.

Now, officials are scrambling to repair hotels and clear debris in the western half of the island in hopes of securing tourist dollars at a moment when they’re needed the most.

“We are still doing our assessments, but most of the damage was in the northwest and southwest,” said Christopher Jarrett, who leads the Jamaica Hotel and Tourist Association.

He noted that the popular Negril area in Westmoreland was spared major damage.

All international airports in Jamaica have reopened and are receiving commercial flights. But almost a week after one of the most powerful Atlantic hurricanes on record struck the western end of Jamaica, tourism officials were still trying to get a true picture of the damage to the sector — a mainstay of the island’s economy.

Jarrett said the lobby group that represents private hotels and attractions on the island is still unable to reach many of its members, especially in the western parish of Hanover, as communication and electricity services were down.

“Every individual member who was affected is doing everything to get back up and running,” he said.

In recent days, Tourism Minister Edmund Bartlett said he expected Jamaica’s tourism sector to be back to normal by Dec. 15, the start of the island’s peak tourism season.

“It’s doable for some and not for others,” Jarrett said of the timeline, pointing out that the larger hotel chains would be able to recover faster.

Jarrett, who operates the family-owned Altamont Court Hotel that has properties in Kingston and Montego Bay, said only one property in Montego Bay sustained roof damage and that repairs were underway.

Despite the disruption to the important tourism sector, Jarrett said he doesn’t expect the economic fallout to be significant. He said many hotels in the capital of Kingston and in the northern coastal town of Ocho Rios were gaining business from the influx of aid workers and volunteers in the hurricane’s aftermath.

“Right now, we’re giving discounts, between 25% and 50%, and some (hotels) are giving complimentary stays as well,” Jarrett said.

Tourism is Jamaica’s main source of foreign exchange earnings, contributing a combined 30% to GDP directly and indirectly. It employs an estimated 175,000 people and is a major economic driver for other sectors in the Jamaican economy, such as construction, banking and finance, utilities and agriculture.

The disruption to the tourism sector also is affecting many providers of goods and services.

“With some of the hotels closed and most of the tourists gone, many of us are left without work. This storm didn’t just destroy buildings; it shattered jobs and incomes for many of us and our families,” said Patricia Mighten, who works in the western parish of Hanover as a hotel housekeeper.

Desrine Smith, a craft vendor who plies her trade in the resort town of Falmouth in the northwestern parish of Trelawny, echoed those sentiments.

“Going days without tourists coming to buy anything means no sales and no money. We survive on daily earnings, and now everything is uncertain,” she said. “The hurricane has impacted our pockets hard.”



Musk Says SpaceX Could Bring $1 Trillion in Revenue by 2030

Founder, CEO, Chairman, and Chief Engineer of SpaceX, Elon Musk, speaks via videolink on the day of SpaceX's initial public offering (IPO) at the Nasdaq MarketSite in New York City, US, June 12, 2026. REUTERS/Brendan McDermid
Founder, CEO, Chairman, and Chief Engineer of SpaceX, Elon Musk, speaks via videolink on the day of SpaceX's initial public offering (IPO) at the Nasdaq MarketSite in New York City, US, June 12, 2026. REUTERS/Brendan McDermid
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Musk Says SpaceX Could Bring $1 Trillion in Revenue by 2030

Founder, CEO, Chairman, and Chief Engineer of SpaceX, Elon Musk, speaks via videolink on the day of SpaceX's initial public offering (IPO) at the Nasdaq MarketSite in New York City, US, June 12, 2026. REUTERS/Brendan McDermid
Founder, CEO, Chairman, and Chief Engineer of SpaceX, Elon Musk, speaks via videolink on the day of SpaceX's initial public offering (IPO) at the Nasdaq MarketSite in New York City, US, June 12, 2026. REUTERS/Brendan McDermid

Elon ‌Musk said on Sunday that his rocket company, SpaceX, could bring in $1 trillion in revenue by 2030, making the statement two days after the company went public, valuing it at over $2 trillion.

"And I would be surprised if revenue ‌is not greater ‌than $1T in 2031," he ‌wrote ⁠on his social ⁠media platform X, replying to journalist and financial commentator Jon Erlichman.

SpaceX on Friday became the sixth-largest US firm, cementing Musk's status as the ⁠world's first trillionaire.

However, the ‌company ‌still makes far less money than similarly ‌valued tech giants like ‌Broadcom and Amazon.com.

In 2025, SpaceX's revenue jumped to $18.67 billion from $14.02 billion a year earlier, but the ‌company swung to a net loss of $4.94 billion from ⁠a ⁠profit of $791 million.

Some Wall Street analysts are cautious about the company's growth.

Goldman had estimated that SpaceX's revenue would exceed $470 billion in 2030, while Morgan Stanley projected it would reach nearly $330 billion, according to a Wall Street Journal report from earlier this month.


Fitch Affirms China's Credit Rating at 'A'

 A woman walks past murals at a shopping center in Beijing on June 13, 2026. (AFP)
A woman walks past murals at a shopping center in Beijing on June 13, 2026. (AFP)
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Fitch Affirms China's Credit Rating at 'A'

 A woman walks past murals at a shopping center in Beijing on June 13, 2026. (AFP)
A woman walks past murals at a shopping center in Beijing on June 13, 2026. (AFP)

Global ratings agency Fitch on Monday affirmed China's long-term sovereign rating at "A" with a stable outlook, citing its large and diversified ‌economy, which supports ‌prospects for solid ‌GDP ⁠growth and the ⁠country's important role in global trade.

China, which faced high US tariff uncertainty last year, should see some relaxation after US President ⁠Donald Trump's visit, Fitch said, ‌even ‌as it warned of weak ‌household confidence weighing on goods ‌consumption.

Data from last month showed China's official manufacturing purchasing managers' index dropping to 50 from ‌50.3 in April, its lowest reading in three months ⁠as ⁠demand weakened. A level below 50 typically signals contraction.

"The energy price shock may pose a challenge, but large crude oil inventories, substantial refining capacity and diversified energy sources should cushion risks," the ratings agency said.


Saudi Arabia's Inflation Edges Up to 1.8% in May

People shopping in a market in Saudi Arabia (SPA)
People shopping in a market in Saudi Arabia (SPA)
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Saudi Arabia's Inflation Edges Up to 1.8% in May

People shopping in a market in Saudi Arabia (SPA)
People shopping in a market in Saudi Arabia (SPA)

Saudi Arabia’s consumer price index (CPI) rose 1.8% year-on-year in May 2026, compared with the same month a year earlier, according to official data released on Sunday.

The General Authority for Statistics said the annual increase was driven mainly by a 3.7% rise in housing, water, electricity, gas and other fuels costs, supported by a 4.7% increase in actual housing rents.

Higher prices in several other categories also contributed to the increase. Restaurant and hotel prices rose 1.7%, while transport costs increased 1.5%.

Prices in the personal care and miscellaneous goods and services category climbed 5.6%, largely due to a 20.0% jump in jewelry and watches prices.

The overall rise in inflation was partly offset by a 0.5% annual decline in furniture and household equipment prices, the statistics authority said.

Slight Monthly Price Changes

On a monthly basis, Saudi Arabia’s consumer price index edged up 0.2% in May from April. The increase was driven primarily by a 0.6% rise in transport prices, largely due to a 1.9% increase in passenger transport services.

Food and beverage prices rose 0.1% month-on-month, while housing and water costs increased 0.2%.

Meanwhile, prices in the personal care and miscellaneous goods and services category fell 0.2%, as did furniture and household equipment prices. Clothing and footwear prices also declined 0.1% from the previous month.

Housing and Transport Lead Inflation Drivers

The housing, water, electricity, gas and other fuels remained the largest contributor to annual inflation in May, accounting for 0.7 percentage points.

The personal care and miscellaneous goods and services category was the second-largest contributor, adding 0.3 percentage points to the annual inflation rate.

Transport and food and beverages each contributed 0.2 percentage points, while the remaining 0.3 percentage points came from other components of the consumer basket, according to the authority.