TEF’s Speed Networking Event Generates J$1 billion Economic Impact

Jamaica’s economy has received a J$1 billion boost through the Tourism Enhancement Fund’s (TEF) Speed Networking initiative since its launch in 2016, announced Tourism Minister Hon. Edmund Bartlett during the program’s 10th anniversary celebration on Thursday (March 13) at the Montego Bay Convention Centre.

The innovative program, designed to connect Jamaica’s thriving tourism sector with local producers, manufacturers, and service providers, has transformed the business landscape for many Jamaican entrepreneurs through its signature 15‑minute meeting format. These focused sessions provide local businesses with the opportunity to pitch directly to key decision‑makers from hotels and tourism enterprises.

Minister Bartlett noted in his virtual address, “From the food on our visitors’ plates to the furniture in their rooms, each product represents a strand in the tapestry of our economy. What began with just a few sectors has blossomed into a showcase of Jamaican innovation spanning entertainment, manufacturing, agriculture, crafts, and technology.”

Recent Tourism Ministry surveys reflect the program’s success, with 94 percent of participating hotels reporting satisfaction with the showcased products and 80 percent of suppliers gaining valuable business connections. Minister Bartlett emphasized that the billion‑dollar economic injection has directly benefited Jamaican citizens, strengthening local industries and promoting economic independence across the island.

This year’s event featured several enhancements.

These included professional development opportunities facilitated by the Jamaica Centre for Tourism Innovation (JCTI), which provided specialized training for Human Resource managers. An advanced digital matching platform further improved the efficiency of buyer‑supplier connections, maximizing the value of each brief meeting.

Looking towards the future, Bartlett outlined an ambitious vision for the Tourism Linkages Network, a department within the Tourism Enhancement Fund, which is the key organizer of the event. He detailed plans to develop comprehensive online platforms that will facilitate year‑round business connections, prioritize eco‑friendly products and practices aligned with global sustainability trends, share the successful Speed Networking model with neighboring Caribbean nations, and elevate Jamaican product standards to exceed international expectations.

Representatives from the Jamaica Hotel & Tourist Association, Jamaica Manufacturers & Exporters Association, and Jamaica Business Development Corporation joined numerous hoteliers and local producers in celebrating a decade of successful collaboration. The event not only marked a significant milestone in fostering local economic growth but also set a promising stage for the future of Jamaica’s tourism and business sectors.

SEEN IN IMAGE: Tourism Enhancement Fund’s (TEF) Executive Director Dr. Carey Wallace (right) shares a moment with industry leaders (from left) Sydney Thwaites, President of the Jamaica Manufacturers and Exporters Association; Robin Russell, President of the Jamaica Hotel and Tourist Association; Carolyn McDonald-Riley, Director of TEF’s Tourism Linkages Network; and Clifton Reader, Vice President of Palace Resorts for Jamaica and Turks and Caicos during the 10th anniversary celebration of the Speed Networking initiative at the Montego Bay Convention Centre on March 13, 2025. The groundbreaking program has generated J$1 billion in economic impact since its inception.