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.”



Al-Rumayyan: PIF Investments in Local Content Exceed $157 Billion

Yasir Al-Rumayyan speaks to the audience in the opening speech of the Public Investment Fund Private Sector Forum (Asharq Al-Awsat)
Yasir Al-Rumayyan speaks to the audience in the opening speech of the Public Investment Fund Private Sector Forum (Asharq Al-Awsat)
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Al-Rumayyan: PIF Investments in Local Content Exceed $157 Billion

Yasir Al-Rumayyan speaks to the audience in the opening speech of the Public Investment Fund Private Sector Forum (Asharq Al-Awsat)
Yasir Al-Rumayyan speaks to the audience in the opening speech of the Public Investment Fund Private Sector Forum (Asharq Al-Awsat)

Yasir Al-Rumayyan, governor of Saudi Arabia’s Public Investment Fund (PIF), announced that spending by the sovereign fund’s programs, initiatives, and companies on local content reached 591 billion riyals ($157 billion) between 2020 and 2024.

He added that the fund’s private sector platform has created more than 190 investment opportunities worth over 40 billion riyals ($10 billion).

Speaking at the opening of the PIF Private Sector Forum on Monday in Riyadh, Al-Rumayyan said the fund is working closely with the private sector to deepen the impact of previous achievements and build an integrated economic system that drives sustainable growth through a comprehensive investment cycle methodology.

He described the forum as the largest platform of its kind for seizing partnership and collaboration opportunities with the private sector, highlighting the fund’s success in turning discussions into tangible projects.

Since 2023, the forum has attracted 25,000 participants from both public and private sectors and has witnessed the signing of over 140 agreements worth more than 15 billion riyals, he pointed out.

Al-Rumayyan emphasized that the meeting comes at a pivotal stage of the Kingdom’s economy, where competitiveness will reach higher levels, sectors and value chains will mature, and ambitions will be raised.

PIF Private Sector Forum aims to support the fund’s strategic initiative to engage the private sector, showcase commercial opportunities across PIF and its portfolio companies, highlight potential prospects for investors and suppliers, and enhance cooperation to strengthen the local economy.


Pakistan’s Finance Minister to Asharq Al-Awsat: We Draw Inspiration from Saudi Arabia

The Pakistani Finance Minister during his meeting with Saudi Minister of Economy and Planning Faisal Alibrahim on the sidelines of the AlUla Conference (SPA)
The Pakistani Finance Minister during his meeting with Saudi Minister of Economy and Planning Faisal Alibrahim on the sidelines of the AlUla Conference (SPA)
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Pakistan’s Finance Minister to Asharq Al-Awsat: We Draw Inspiration from Saudi Arabia

The Pakistani Finance Minister during his meeting with Saudi Minister of Economy and Planning Faisal Alibrahim on the sidelines of the AlUla Conference (SPA)
The Pakistani Finance Minister during his meeting with Saudi Minister of Economy and Planning Faisal Alibrahim on the sidelines of the AlUla Conference (SPA)

Pakistani Finance Minister Muhammad Aurangzeb discussed the future of his country, which has frequently experienced a boom-and-bust cycle, saying Pakistan has relied on International Monetary Fund (IMF) programs due to the absence of structural reforms.

In an interview with Asharq Al-Awsat on the sidelines of the AlUla Conference for Emerging Market Economies, Aurangzeb acknowledged that Pakistan has relied on IMF programs 24 times not as a coincidence, but rather as a result of the absence of structural reforms and follow-up.

He stressed the government has decided to "double its efforts" to stay on the reform path, no matter the challenges, affirming that Islamabad not only has a reform roadmap, but also draws inspiration from "Saudi Vision 2030" as a unique model of discipline and turning plans into reality.

Revolution of Numbers

Aurangzeb reviewed the dramatic transformation in macroeconomic indicators. After foreign exchange reserves covered only two weeks of imports, current policies have succeeded in raising them to two and a half months.

He also pointed out to the government's success in curbing inflation, which has fallen from a peak of 38 percent to 10.5 percent, while reducing the fiscal deficit to 5 percent after being around 8 percent.

Aurangzeb commented on the "financial stability" principle put forward by his Saudi counterpart, Mohammed Aljadaan, considering it the cornerstone that enabled Pakistan to regain its lost fiscal space.

He explained that the success in achieving primary surpluses and reducing the deficit was not merely academic figures, but rather transformed into solid "financial buffers" that saved the country.

The minister cited the vast difference in dealing with disasters. While Islamabad had to launch an urgent international appeal for assistance during the 2022 floods, the "fiscal space" and buffers it recently built enabled it to deal with wider climate disasters by relying on its own resources, without having to search "haphazardly" for urgent external aid, proving that macroeconomic stability is the first shield to protect economic sovereignty.

Privatization and Breaking the Stalemate of State-Owned Enterprises

Aurangzeb affirmed that the Pakistani Prime Minister adopts a clear vision that "the private sector is what leads the state."

He revealed the handover of 24 government institutions to the privatization committee, noting that the successful privatization of Pakistan International Airlines in December provided a "momentum" for the privatization of other firms.

Aurangzeb also revealed radical reforms in the tax system to raise it from 10 percent to 12 percent of GDP, with the adoption of a customs tariff system that reduces local protection to make Pakistani industry more competitive globally, in parallel with reducing the size of the federal government.

Partnership with Riyadh

As for the relationship with Saudi Arabia, Aurangzeb outlined the features of a historic transformation, stressing that Pakistan wants to move from "aid and loans" to "trade and investment."

He expressed his great admiration for "Vision 2030," not only as an ambition, but as a model that achieved its targets ahead of schedule.

He revealed a formal Pakistani request to benefit from Saudi "technical knowledge and administrative expertise" in implementing economic transformations, stressing that his country's need for this executive discipline and the Kingdom's ability to manage major transformations is no less important than the need for direct financing, to ensure the building of a resilient economy led by exports, not debts.


Oil Drops 1% as US, Iran Pledge to Continue Talks

The sun rises behind the Tishrin oil field in the eastern Hasakah countryside, northeastern Syria (AP)
The sun rises behind the Tishrin oil field in the eastern Hasakah countryside, northeastern Syria (AP)
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Oil Drops 1% as US, Iran Pledge to Continue Talks

The sun rises behind the Tishrin oil field in the eastern Hasakah countryside, northeastern Syria (AP)
The sun rises behind the Tishrin oil field in the eastern Hasakah countryside, northeastern Syria (AP)

Oil prices fell 1% on Monday as immediate fears of a conflict in the Middle East eased after the US and Iran pledged to continue talks about Tehran's nuclear program over the weekend, calming investors anxious about supply disruptions.

Brent crude futures fell 67 cents, or 1%, to $67.38 a barrel on Monday by 0444 GMT, while US West Texas Intermediate crude was at $62.94 a barrel, down 61 cents, or 1%.

"With more talks on the horizon the immediate ‌fear of supply disruptions ‌in the Middle East has eased ‌quite ⁠a bit," IG ‌market analyst Tony Sycamore said.

Iran and the US pledged to continue the indirect nuclear talks following what both sides described as positive discussions on Friday in Oman despite differences. That allayed fears that failure to reach a deal might nudge the Middle East closer to war, as the US has positioned more military forces in the area.

Investors are also worried about possible disruptions to supply ⁠from Iran and other regional producers as exports equal to about a fifth of the world's ‌total oil consumption pass through the Strait of ‍Hormuz between Oman and Iran.

Both ‍benchmarks fell more than 2% last week on the easing tensions, their ‍first decline in seven weeks.

However, Iran's foreign minister said on Saturday Tehran will strike US bases in the Middle East if it is attacked by US forces, showing the threat of conflict is still alive.

"Volatility remains elevated as conflicting rhetoric persists. Any negative headlines could quickly reignite risk premiums in oil prices this week," said Priyanka Sachdeva, senior market analyst at ⁠Phillip Nova.

Investors are also continuing to grapple with efforts to curb Russian income from its oil exports for its war in Ukraine. The European Commission on Friday proposed a sweeping ban on any services that support Russia's seaborne crude oil exports.

Refiners in India, once the biggest buyer of Russia's seaborne crude, are avoiding purchases for delivery in April and are expected to stay away from such trades for longer, refining and trade sources said, which could help New Delhi seal a trade pact with Washington.

"Oil markets will remain sensitive to how broadly this pivot away from Russian crude unfolds, whether ‌India’s reduced purchases persist beyond April, and how quickly alternative flows can be brought online," Sachdeva said.