Chad Bryan, Gleaner Writer
Co-owner of the Wealth brand, Garth Walker, said the cost of decor for this weekend's Wealth Auto Show at the Montego Bay Convention Centre, St James, is more than the $2.5 million outlay for the Kingston show three years ago. The show ends today.
While not divulging the figure, Walker attributed the rise chiefly to the slide in the Jamaican currency against the benchmark United States dollar.
"The cost is significantly more. You have to remember that the show was held in 2011 when the value of the dollar was $70 or $75 to one; the dollar is now $112 to one," Walker said.
In 2011, Walker had said the Wealth Auto Show would be a visually stunning event. He also said that patrons would be captivated by its look. Naturally, it is expected that the organisers of the show would continue that approach and go for a spectacular layout in 2014.
devaluation of the dollar
The devaluation of the Jamaican dollar has affected not only the decor arrangements, but also the overall cost of staging of the Wealth Auto Show. For the 2011 staging, Walker had summed it up as a multi-million-dollar effort. Three years on, it has gone up significantly, although Walker would not say by how much.
Also pushing up the costs is having to transport items to Montego Bay, unlike in 2011 when the Wealth Auto Show was held at the National Arena in Kingston. "I don't like to talk cost, but we have to take into consideration the fact that it is out of town. We have to take into consideration transportation and accommodation," Walker said.
The entry fee for the Wealth Auto show is $500, with children under 12 years old free.