No Result
View All Result
  • Login
Monday, January 12, 2026
FeeOnlyNews.com
  • Home
  • Business
  • Financial Planning
  • Personal Finance
  • Investing
  • Money
  • Economy
  • Markets
  • Stocks
  • Trading
  • Home
  • Business
  • Financial Planning
  • Personal Finance
  • Investing
  • Money
  • Economy
  • Markets
  • Stocks
  • Trading
No Result
View All Result
FeeOnlyNews.com
No Result
View All Result
Home Economy

Hurricane Melissa Blasts Jamaica’s Economy

by FeeOnlyNews.com
2 months ago
in Economy
Reading Time: 2 mins read
A A
0
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

3 Hyped Up Stocks That Concern Us

Next Post

Globalists Cheer Mamdani’s Win | Armstrong Economics

Related Posts

Trump’s .5 Trillion Gamble: Will Endless Conflict Win Midterm Votes?

Trump’s $1.5 Trillion Gamble: Will Endless Conflict Win Midterm Votes?

by FeeOnlyNews.com
January 12, 2026
0

Yves here. As is so often the case with articles by Paul Rogers, while the piece below makes some interesting...

Pentagon Considers Raising Budget By 50%

Pentagon Considers Raising Budget By 50%

by FeeOnlyNews.com
January 12, 2026
0

President Trump’s announcement that he wants to push the U.S. defense budget to $1.5 trillion in 2027 is being framed...

Money and Power: Fiat Currency, Monetary Corruption, and the Architecture of Extraction

Money and Power: Fiat Currency, Monetary Corruption, and the Architecture of Extraction

by FeeOnlyNews.com
January 11, 2026
0

Money is often described as neutral, technical, or merely instrumental—a passive medium facilitating exchange within an otherwise political society. This...

Links 1/11/2026 | naked capitalism

Links 1/11/2026 | naked capitalism

by FeeOnlyNews.com
January 11, 2026
0

A master chef transform simple ingredients into an elaborate desserthttps://t.co/xns2lKmoLu — Massimo (@Rainmaker1973) January 10, 2026 A Disrupted Body Clock...

The Sunday Morning Movie Presents: One Eyed Jacks (1961) Run Time: 2H 21M And A Bonus Documentary!

The Sunday Morning Movie Presents: One Eyed Jacks (1961) Run Time: 2H 21M And A Bonus Documentary!

by FeeOnlyNews.com
January 11, 2026
0

Good morning gentle readers and welcome to another installment of the Sunday Morning Movie. Today it’s a Western, One Eyed...

History of Hyperinflation | Mises Institute

History of Hyperinflation | Mises Institute

by FeeOnlyNews.com
January 10, 2026
0

What is the Mises Institute? The Mises Institute is a non-profit organization that exists to promote teaching and research in...

Next Post
Globalists Cheer Mamdani’s Win | Armstrong Economics

Globalists Cheer Mamdani’s Win | Armstrong Economics

How Macy’s, Dillard’s, and Nordstrom are getting their groove back this holiday season

How Macy's, Dillard's, and Nordstrom are getting their groove back this holiday season

  • Trending
  • Comments
  • Latest
EBRI: 401(k) loans serve as health and housing lifeline

EBRI: 401(k) loans serve as health and housing lifeline

December 16, 2025
Episode 242. “Our couples therapist couldn’t fix this. Please help.”

Episode 242. “Our couples therapist couldn’t fix this. Please help.”

January 6, 2026
BAT to offload ITC Hotels shares worth Rs 2,948 crore via a block deal

BAT to offload ITC Hotels shares worth Rs 2,948 crore via a block deal

December 4, 2025
Want to Retire Comfortably Without Cutting Fun? Here’s the Trick Few People Use

Want to Retire Comfortably Without Cutting Fun? Here’s the Trick Few People Use

November 1, 2025
How They Work for Service Members

How They Work for Service Members

January 12, 2026
*HOT* Dyson V9 De-tangling Motorbar Cordless Vacuum only 9.98 shipped (Reg. 9!)

*HOT* Dyson V9 De-tangling Motorbar Cordless Vacuum only $279.98 shipped (Reg. $599!)

January 11, 2026
How to Retire with the Fewest Rentals Possible in 2026

How to Retire with the Fewest Rentals Possible in 2026

0
Marriott Bonvoy Bold, Boundless Unveil New Bonus Offers

Marriott Bonvoy Bold, Boundless Unveil New Bonus Offers

0
Psychology says people who are genuinely content alone on weekends display these 10 rare personality strengths

Psychology says people who are genuinely content alone on weekends display these 10 rare personality strengths

0
process of channel management

process of channel management

0
Silver bulls now eyeing Rs 3 lakh milestone. Should you buy or wait for dip?

Silver bulls now eyeing Rs 3 lakh milestone. Should you buy or wait for dip?

0
6 Gyms Across America With Cheap Memberships (and What They Offer)

6 Gyms Across America With Cheap Memberships (and What They Offer)

0
process of channel management

process of channel management

January 12, 2026
How to Retire with the Fewest Rentals Possible in 2026

How to Retire with the Fewest Rentals Possible in 2026

January 12, 2026
Psychology says people who are genuinely content alone on weekends display these 10 rare personality strengths

Psychology says people who are genuinely content alone on weekends display these 10 rare personality strengths

January 12, 2026
6 Gyms Across America With Cheap Memberships (and What They Offer)

6 Gyms Across America With Cheap Memberships (and What They Offer)

January 12, 2026
Senate committees to hold markup hearings for crypto market structure bill

Senate committees to hold markup hearings for crypto market structure bill

January 12, 2026
Crypto ETPs Post 4M Outflows As Bitcoin Leads Losses

Crypto ETPs Post $454M Outflows As Bitcoin Leads Losses

January 12, 2026
FeeOnlyNews.com

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Economy
  • Financial Planning
  • Investing
  • Market Analysis
  • Markets
  • Money
  • Personal Finance
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • process of channel management
  • How to Retire with the Fewest Rentals Possible in 2026
  • Psychology says people who are genuinely content alone on weekends display these 10 rare personality strengths
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclaimers
  • About Us
  • Contact Us

Copyright © 2022-2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Sign In with Facebook
Sign In with Google
Sign In with Linked In
OR

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
  • Business
  • Financial Planning
  • Personal Finance
  • Investing
  • Money
  • Economy
  • Markets
  • Stocks
  • Trading

Copyright © 2022-2024 All Rights Reserved
See articles for original source and related links to external sites.