Current conditions in Negril

[Accompong]

I noticed this morning that the exchange rate for US to J was above $141 to $1 and was curious how the pricing in Negril was going for food and other things. It appears to be getting worse by the day. Without tourists, have the local shops been generally keeping their prices the same or has there been a lot of raising of prices?

I know it is tough enough when there are tourist dollars to bolster the economy but, without them, how have the local businesses been able to stay open?

Just wondering what people staying there are experiencing.

Peace and Guidance

[Rob]

The Bank of Jamaica rate has been fluctuating this past month. We hit a high of 146 to 1US$ the other day. Cambio rates are between 128 and 131.

But all of that is irrelevant when you have no means of foreign income. Tourism business is just not happening so for Negril this is a rather tough time.

Prices are trying to be held in place, but our bill at the Supermarket today did seem higher than normal. The government dropped the GCT from 16.5% to 15. But that change was never really noticable.

The local businesses that are allowed and choose to remain open do so because they never relied on foreign exchange. As mentioned, the businesses that relied on foreign exchange are tourism related businesses which have all closed.

From the street today....

[Accompong]

The Bank of Jamaica rate has been fluctuating this past month. We hit a high of 146 to 1US$ the other day. Cambio rates are between 128 and 131.

But all of that is irrelevant when you have no means of foreign income. Tourism business is just not happening so for Negril this is a rather tough time.

Prices are trying to be held in place, but our bill at the Supermarket today did seem higher than normal. The government dropped the GCT from 16.5% to 15. But that change was never really noticable.

The local businesses that are allowed and choose to remain open do so because they never relied on foreign exchange. As mentioned, the businesses that relied on foreign exchange are tourism related businesses which have all closed.

From the street today....

Thanks Rob. We are in a similar (but not as bad) situation here on the Southeast Coast of Florida. The tourists are mostly gone and those that remain are sheltering in place for the most part. Restaurants are closed. Beaches are closed. And...the worse part...people are not being tested in sufficient quantity to totally reopen the local economy.

I feel for the local business owners both here and in Jamaica. The ones that have been around for years and years will be able to survive for the most part.

Our supermarkets are raising prices as well. No or little toilet tissue or sanitizing wipes. Very poor selection of meat and chicken at higher prices. Nothing really "on sale".

I am waiting to plan a return trip until I see more stability with both the virus as well as the way the BOJ handles the monetary policy. I don't expect to see a lot of the newer businesses when I eventually return.

My best to you and Lisa

Peace and Guidance

[Rob]

One thing I didn't mention is that we never saw the oil prices change anything.

JPS bills have gone up and gas at $154 a litre works out to be $700 a gallon.

No break at all in delivery and storage prices to the stores...