THIS DAY IN OUR PAST

The following events took place on February 23 in the years identified:

1978: The tourist trade is booming in the north coast areasm, and some hotels, unable to cope with the influx of visitors, have had to refer the visitors to alternative acommodation. Some hotels where business had been very slow at first are now enjoying occupancy levels of between 90 and 5 per cent, and projections are that this boom will continue at least up to March, with others through to the summer. Mr. Cliff Burt, president of the Jamaica Hotel and Tourist Association and manager of Upper Deck Hotel, Montego Bay, says that while he is pleased with business, he sees the present trend as being traditional when the winter tourist season is in its peak. Other hoteliers, however, overwhelmed, some stating that the present trend is much better than had been predicted. All agree that it is good for the country. The influx of visitors is partly t he result of the unusually cold weather i n North America. 1988: Profits almost doubled at the Mutual Security Bank (MSB) in 1987 because of the positive developments in the economy during that year particularly in t he t ourism sector. Richard Ashenheim, chairman of the bank, in disclosing this, says Jamaica’s dependence on a few key industries for economic growth, has some dangers, with tourism showing a decline during the winter season. Ashenheim is speaking at the bank’s annual general meeting and he warns economic planners, “We need to expand our (Jamaican) economic base by increased development of agriculture and agro industry”.