According to a new study from the Tourism Ministry, local businesses are losing out on the bulk of that revenue, because many hotels are importing goods that can be sourced locally.
In manufacturing, the estimated annual leakage is over $65-billion, or one-third of businesses’ yearly expenditure on manufactured goods.
The study says players in the agricultural sector are losing out on up to $5-billion in revenue.
Tourism Minister, Dr. Wykeham McNeill, says the majority of hotels import less than 10-percent of their agricultural products.
However, he says the Ministry has identified the constraints faced by potential suppliers in agriculture and manufacturing, to meet the demands of hoteliers.
The Minister says plans are being made to eliminate the constraints.
The Tourism Demand Study, commissioned at a cost of $8.6-million was presented to the media this week.