$17 Million for Economic Development in El Salvador

Businesses that operate in the northern zone of the country can access lines of credit in order to invest in or expand their operations.

Friday, December 12, 2008

Daniel Choto writes in an article on Elsalvador.com: "Starting now, businesses interested in investing in or expanding their projects in the northern zone of the country have a new ally, the Northern Development Trust Fund (Fidenorte, acronym in Spanish) due to the $17 million allocated yesterday by Fomilenio and Banco Multisectorial de Inversiones (BMI).

This will finance the purchase of capital and infrastructure, livestock raising, crop farming (except forestry), greenhouse production, the creation of new product lines (including the industrialization of agricultural raw materials) and technological modernization of businesses, among other things.”

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Although the number of tourists coming to Panama City continues to grow, there is still an oversupply of rooms, and in the last 3 years average occupancy has fallen by 10%.

The prevailing oversupply in the sector has begun to affect hotels, whose financial profits have been reduced by 20%.

Bad Season for Hotels in Costa Rica

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In September and October hoteliers reduce or close their operations due to the low levels of occupancy recorded at this time of year.

Many of these companies send their employees on training courses or terminate their contracts as occupancy levels in these two months are at the lowest of the year.

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In the last year, average hotel occupancy dropped by 51%.

The IX Tourism Survey of the Association for Research and Social Studies (ASIES), performed in 260 hotels throughout the country, also indicated that two thousand five hundred jobs were lost in the sector.


"Rubén Darío Narcissus, ASIES consultant, said that 44.000 hotel rooms were available in 2008, dropping to 35.000 in 2010.

Costa Rica: Hotel Occupancy Projected Above 70%

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The tourism sector expects the start of high season to represent an increase in hotel occupancy.

According to a survey by the National Chamber of Tourism (CANATUR), an average 74% occupancy rate is projected for the first two weeks of the season, ranging from the 15th to the 30th of December.

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Televentur

Organization that operates in Guatemala and Honduras.
Phone: (502) 2333 7037

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