While the world's largest stock markets are experiencing hard times, former outsiders take the lead. Summing up the year, experts recognized Jamaica to be the best performing stock market in 2015. Over the last twelve months, the country’s stock exchange industry grew at the fastest pace compared to its peers across the world and rightly deserved to be called the most successful market. Jamaica's benchmark stock index skyrocketed 80 percent throughout the year. The figure looks really impressive, especially against the backdrop of the struggling global economy. For example, the Dow Jones Industrial Average lost one percent in 2015 and the Euro Stoxx 50 fell by six percent in dollar terms. Independent observers highlighted several factors which boosted the performance of the Jamaica Stock Exchange. First of all, it was contributed by sustainable growth in the national economy. In addition, a new law permitting foreigners to acquire local assets had a positive effect.
Moreover, investor safeguards became stronger. Some companies managed to achieve striking financial results. For example, a Jamaican cement manufacturer, Caribbean Cement, increased profits more than tenfold in 2015. As of late November, 23 largest companies doubled their market value. Of course, the economy has a modest market capitalization of around $5.3 billion compared to $5.23 trillion of 30 companies included in the Dow Jones index. Nevertheless, the 2015 figures are quite remarkable, considering the fact that after the global financial crisis Jamaica suffered several years of deep recession.
