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Schumpeter: How globalisation is helping Jamaica

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Globalisation may be out of favour. Jamaica provides a surprising example of its value

IT IS EASY to succumb to the romance of Jamaica over dinner with Chris Blackwell in GoldenEye, his boutique hotel in the grounds of Ian Fleming’s Caribbean retreat. Mr Blackwell’s mother was Fleming’s mistress, muse and supposedly the model for Pussy Galore. Mr Blackwell’s record label, Island Records, turned Bob Marley, among many others, into a star. In 1989 he sold Island for £180m ($300m) and bought eight hotels in Miami Beach, which was then run-down. Now he is focusing on his Jamaican properties instead.
There are some reasons to think that Mr Blackwell’s nose for the market has not deserted him. Jamaica has produced a striking number of global superstars (such as Marley and Usain Bolt) and global brands (including Blue Mountain coffee and Jamaican Lion marijuana). The weather is warm, the beaches idyllic. A brand new toll road, built by a Chinese company, links the south …

Schumpeter: How globalisation is helping Jamaica

UK Only Article: 
standard article

Fly Title: 

Schumpeter

Main image: 

20160514_wbd000.jpg

Rubric: 

Globalisation may be out of favour. Jamaica provides a surprising example of its value

IT IS EASY to succumb to the romance of Jamaica over dinner with Chris Blackwell in GoldenEye, his boutique hotel in the grounds of Ian Fleming’s Caribbean retreat. Mr Blackwell’s mother was Fleming’s mistress, muse and supposedly the model for Pussy Galore. Mr Blackwell’s record label, Island Records, turned Bob Marley, among many others, into a star. In 1989 he sold Island for £180m ($300m) and bought eight hotels in Miami Beach, which was then run-down. Now he is focusing on his Jamaican properties instead.
There are some reasons to think that Mr Blackwell’s nose for the market has not deserted him. Jamaica has produced a striking number of global superstars (such as Marley and Usain Bolt) and global brands (including Blue Mountain coffee and Jamaican Lion marijuana). The weather is warm, the beaches idyllic. A brand new toll road, built by a Chinese company, links the south …