IMMEDIATE RELEASE
Tuesday, June 28, 2005
RED
STRIPE REGGAE SUMFEST
PROJECTED TO GENERATE
$310 MILLION INTO JAMAICAN
ECONOMY
Montego Bay, Jamaica:-- When
the first note is struck
at the week-long Red Stripe
Reggae Sumfest in August,
$310 million will be injected
into the Jamaican economy
according to Summerfest Productions Chairman Robert Russell. The festival
is slated to attract 5,000
tourists, each of which,
Russell says, will most
likely spend a conservative
US$1,000 each. “If
you average an expenditure
of US$1,000 per visitor
for airline tickets, hotel
rooms and food than you
get a total of US$5 million,” Russell
said.
At a rate of 62-1 that
figure would translate
to J$310 million. Business
owners in the resort towns
of Negril, Ocho Rios and everywhere
in between will also benefit
as the North Coast highway development will make access to Montego
Bay from
these areas less combustible
than in former years. “It
is a significant injection
into the economy of Montego
Bay and Jamaica,” Russell said, “People will be
staying in Negril and Ocho Rios.”
“The highway development means because Negril is 45 minutes away and the time it takes from Ocho Rios is significantly lessened with the near completion
of that highway”.
Vendors, taxi operators,
restaurants, night clubs,
car rental agencies and
hotels are some of the
many businesses which stand
to benefit from an increase
in sales during the week
the reggae festival will
attract thousands to the
island’s shores. “Everybody
benefits,” Russell
said.
Red Stripe Reggae Sumfest
is known as the world’s
premier reggae festival
and this year the festival
is expected to cost Summerfest Productions
more than $60 million in
artiste fees, accommodation,
advertising, promotions,
and security costs in addition
to the rental of various
venues.
This year’s festival will be held around
the central theme of peace
and according to Russell
the organisers are placing a significant emphasis on the promotion
of a non-violent concert
environment.
Red
Stripe Reggae Sumfest runs
from July 17- 23 in Montego Bay, Jamaica and
is sponsored by: the Title
sponsor Red Stripe, Platinum
Sponsors the Jamaica Tourist
Board, b Mobile and Air Jamaica.
Gold sponsors: Wata, Bigga,
Ocean Spray, Half Moon,
Holiday Inn, Wyndham Rose
Hall. The media sponsors: CVM
Communications Group (CVM
TV, Hot 102), RJR, FAME,
Radio 92, IRIE FM, BET
Jazz and RealVibes.net. Associate Sponsors are Comtech, Courts, Pay Pak and Continental Airlines.
-ends-
374 words
For further information:
www.headlinejamaica.com § media@headlinejamaica.com § 876.754.1526
www.reggaesumfest.com § media@reggaesumfest.com § 876.953.2933
