Blue Ocean Strategy to revolutionise Jamaica’s tourism industry
/ Our Today
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Tourism Minister, Edmund Bartlett is pushing the Blue Ocean Strategy to revolutionize Jamaica’s tourism industry in ways that will differentiate the island from its regional competitors.
The concept, developed by Professors W. Chan Kim and Renée Mauborgne, suggests that companies can achieve success by identifying and capturing untapped market spaces, called blue oceans. In blue oceans, competition is low or non-existent, which will allow companies to create and capture new demand by focusing on innovation, rather than competing in saturated market spaces.
Minister Bartlett is confident that the implementation of this strategy will stimulate economic growth for Jamaica by attracting new investment, increasing visitor spending and creating employment opportunities in various sectors, which will facilitate long-term profitability. He declares that his ministry aims to identify untapped markets, such as adventure, wellness and ecotourism to attract a wide range of travelers with varied interests.
According to the Tourism Minister, Jamaica will attract tourists seeking novel experiences and position itself as a premier destination for sustainable tourism by creating unique and customized offerings, promoting cultural heritage and community involvement. Bartlett is affirming that this initiative will support the government’s goal of breaking away from traditional tourism approaches and plans to foster collaboration between the public and private sectors, local communities and international stakeholders.
Blue ocean strategy is a way of creating new markets and demand by offering something different and valuable. The strategy represents the simultaneous pursuit of differentiation and low cost to open up a new market space and create new demand.
It is about creating and capturing uncontested market space, thereby making the competition irrelevant. The strategy is based on the view that market boundaries and industry structure are not a given and can be reconstructed by the actions and beliefs of industry players.
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