Inflation and exchange rates: All managers indicated that their businesses are impacted by the high inflation rates. This is especially true with imports and salaries as well as high taxes that are levied as a result. The following comments relate to inflation and exchange rate:
“The employees are subjected to this as the country’s economic situation fluctuates. For example, as the price of rice goes up, I have to raise salaries, which means I have to raise my prices for the rooms because we are here to make money”. (GM#3)
“We are an international hotel company which charges. US dollars and pays bills in Jamaican dollars, so we are affected by fluctuations in exchange rates”. (GM#8)