Jamaica Lauds Spain as Pivotal Economic Partner, Citing Billions in Tourism Investment

Jamaica Recognizes Spain's Crucial Role in Economic Development

Kingston, Jamaica – On October 9, 2025, Jamaica's Minister of Foreign Affairs and Foreign Trade, Senator the Honourable Kamina Johnson Smith, lauded Spain as a pivotal partner in the island's economic development. Speaking at Spain's National Day reception, held at the Ambassador of Spain's residence in St. Andrew, Senator Johnson Smith highlighted Spain's significant contributions, particularly within the tourism sector. She noted that Jamaica has, over the past decade, emerged as a model of sound economic management, fostering an environment conducive to business and investment. 'On that path, it's important to recognise those who have participated in the process. We, therefore, wish to recognise the important contributions of bilateral partners like Spain and, indeed, Spanish companies for the achievement of our economic and national development goals,' the Minister stated.

Spanish Investment Surpasses US$2.5 Billion in Tourism

The tourism sector was identified as a leading example of the fruitful bilateral partnership between Spain and Jamaica. Senator Johnson Smith expressed appreciation for Spain's continued partnership, revealing that Spanish investment in Jamaica's tourism sector has surpassed US$2.5 billion. Spanish companies rank among Jamaica's largest investors, with several major projects currently underway across the island.

A notable project mentioned is the Grand Palladium Hotel in Hanover, which commenced development in February 2025. This expansion is set to add 950 new rooms to Jamaica's tourism stock and will include dedicated housing for 550 staff members. Other major expansion projects by groups such as Princess and Bahía Príncipe are also anticipated, involving billion-dollar investments that are expected to significantly impact employment and the Jamaican economy.

Deepening Cooperation Through Strategic Agreements

Further solidifying their partnership, Jamaica and Spain formalized a Memorandum of Understanding (MOU) for International Cooperation on Tourism in January 2025. This MOU aims to deepen collaboration in key areas, including:

• Gastronomy
• Human capital development
• Resilience

This agreement reflects both nations' shared commitment to sustainable growth and mutual advancement in the tourism industry.

Beyond Tourism: Diversified Spanish Engagement

While tourism remains a cornerstone of Spanish investment, the engagement extends to other vital sectors. Spain's Ambassador to Jamaica, His Excellency José María Fernández López de Turiso, emphasized that trade and investment are high on Spain's bilateral agenda. He noted that Spanish companies are actively involved in areas such as renewable energies, construction, consulting, healthcare, and logistics. Ambassador López de Turiso highlighted Spain's position as the fastest-growing economy in the Eurozone, with this growth benefiting Jamaica through continued investments.

The long-standing diplomatic relations between Jamaica and Spain, established in December 1966, have seen significant strengthening over the past decade, positioning Spain among Jamaica's highest-ranked investors.