Economist Professor Andre Haughton says escalating war in the Middle East could have far reaching impacts for Jamaica’s manufacturing and tourism industries

Economist Professor Andre Haughton says the escalating war in the Middle East could have far reaching impacts for Jamaica’s manufacturing and tourism industries.

The war which began in February, and involves the United States, Israel and Iran, has resulted in thousands of deaths and disruptions in the global oil sector.

Missile attacks have forced the closure of the Strait of Hormuz through which a significant per cent of oil is shipped.

Many countries including Jamaica are already seeing increases in gas prices and Professor Haughton says this could also affect tourism.

Speaking on Irie FM’s Africa Forum: with host Ka’bu Maat Kheru yesterday, Professor Haughton said rising fuel costs could deter tourists from travelling.

On the flip side, he said some tourists may avoid the Middle East due to the war, bringing their business to the Caribbean.

Professor Haughton noted that the rising oil prices will mean higher production costs for manufacturers.

But, despite the negative impacts, the economist said the energy situation presents an opportunity for Caribbean nations to work together.