Business social
The official opening ceremony of the Adam & Eve Day Spa was a telescope into the impact that micro, small and medium-sized enterprises (MSMEs) have on the Jamaican economy. In a ceremony last month, Prime Minister Andrew Holness lauded the proprietors for their vision and commitment to staying the course in building a successful business.
“There are about 425,000 MSMEs in Jamaica. We know this because many of them are registered, taxpaying entities. In fact, we know that those 425,000 MSMEs generate annual revenues of between $15 million and $425 million yearly, and they hire between one and 50 people. Collectively, we know there are about 412,000 own account workers (self-employed) in Jamaica,” Holness explains.
Adding to the figures stated above, Minister of Tourism Edmund Bartlett shared some positive figures, showcasing the improvements and achievements of the Jamaican Tourism product, noting that health and wellness tourism is becoming more popular amongst travellers and that opens a space for entities like Adam & Eve in the industry.
In his shared speech, through his advisor, he shared that, “The 2023/24 fiscal year was a record-breaking year for the industry, surpassing all expectations. We welcomed 4.3 million visitors, including stopovers and cruise visitors, and earned over $.38 billion in revenues. The largest revenue flow from tourism in the history of the industry.”
Garth Walker, executive chairman of the Adam & Eve Day Spa, shared with listeners that upon purchasing the current property he and his wife made an investment of $150 million to acquire the 10,000-sq ft property that now houses the Adam & Eve Day Spa. “The journey for us has been good. We have been through our own tribulations, but what I will say is we are very happy where we are now,” he concluded.