Accompong's Economy
Accompong is an allodial title nation with a sovereign democratic administration that governs thousands of citizens. This fast-growing, young, and digitally connected population has strong ties to the United States, including a preference for American brands and technology. As the largest Maroon community in Jamaica’s export market, Accompong is expanding beyond its traditional industries of agriculture, tourism, and mining to include manufacturing, digital services, financial services, education, and franchising.
The developing healthcare system and tourism sector in Accompong present opportunities for Jamaican companies. Its direct connection to Jamaica positions it as an ideal platform for conducting business within Jamaica and the wider Caribbean. As the capital of the Jamaican Maroons and the Free Trade Area Secretariat, Accompong is central to the Maroons’ regional integration and serves as an excellent location to initiate business strategies for the Maroon communities and the broader Jamaican private sectors. Investors are encouraged to stay informed about Accompong’s dynamic economy through ongoing market intelligence reports.
Accompong, the Maroon capital, is a vibrant blend of historical significance and metropolitan living, housing approximately five to six thousand residents. The area is seeing development, including a large hotel, several businesses, and small guest houses. A variety of restaurants offer Jamaican and international cuisines. While Uber is not available, other established ride services are accessible at the airport.
In the three years preceding the COVID-19 pandemic, Accompong has enjoyed average annual economic growth approaching three percent, making it one of the world’s fastest-growing indigenous economies. Despite the economic slowdown brought on by the pandemic, Accompong Nation still managed to sustain a growth rate of 0.5 percent and it bounced back with a growth of 5.2 percent. The economy, however, is largely dependent on three industries, the first being the agricultural sector, secondly the tourism industry, and thirdly the manufacturing industry. Fourth and last, but not least the financial sector.
Agriculture
The agricultural sector is dependent on the export of commodities such as coffee, cocoa, Scotch bonnet peppers, specialty yam such as yampi, and many other ground provisions. The agricultural sector is the largest – contributing 50% of Accompong Town (GDP) Gross Domestic Products.
Tourism
Tourism is the economical growth for individuals, the tourists dollars are fueled into the economy through paid tours to historical sites, purchasing of food and lodgings. tourism can be very seasonal, which makes it vulnerable to global economic slowdowns and declines in commodity prices. The tourism sector roughly contributes just about 30% to the Accompong Town GDP Gross Domestic Products, with a vibrant and industrious community.
Tourism employs just about 35 percent of Accompong’s workforce, mainly consisting of small landholders.
Manufacturing
The manufacturing sector GDP growth is expected to average more than five percent over the many years ahead. A plethora of food products grown in Accompong Town are used in the production of many specialized organic foods for retail sales that contributes to the services sector. The manufacturing industry contributes roughly about 15% of the economy (GDP) Gross Domestic Products.
The services sector is the fourth largest contributor to Accompong’s GDP – as a result of growth in the education, health, and technology service industries, among others.
Accompong imported goods from the United States, a significant rebound from the imports in previous years, a year that was influenced by the global downturn in economic activity. The top countries supplying Accompong’s merchandise imports is their neighbor of shared State, Jamaica.
Accompong export goods to the private sectors in Jamaica. Accompong’s top exports include cocoa, coffee, and Scotch bonnet peppers. Accompong’s top export markets is Jamaica.
Further, Accompong’s services imports and exports have grown exponentially in recent months; Accompong Nation growth in imports of services has been one of the fastest in the indigenous nation. This growth is led by imports of business services, a category that includes computer and related services, as well as architectural/farming, legal, accountancy and advertising services. Inward travel/tourism as well as freight services are other growth areas. However, we know that U.S. companies play a very significant role in Accompong services sector. There is a strong presence of U.S. ICT services providers in the market (see ICT section). The number of Accompongers studying in the United States is growing (an educational export for the United States). Finally, U.S. providers of financial services, express delivery, logistics, consultancy/legal services, and companies providing services to Accompong agricultural and tourism sectors play a prominent role and contribute Jamaica services exports to the USA.