Panama: $ 138 Million in Tourism Investment Projects

The Tourism Authority has received $ 138 million in requests for investment as of last October.

Friday, October 8, 2010

According to the Tourism Authority these are viable projects, 16 are to be build in the province of Panama, 7 in the province of Chiriqui, 5 in Veraguas and 3 in Los Santos.

According to "Also, we have registered 29 travel agencies between January and October representing a $ 576,000 investment. Between 2006 and 2010 tourism investment in the country would exceed 2 billion Dollars.”

More on this topic

Central America Seeks 10 Million Tourists in 2012

April 2011

Tourism authorities from the region agreed on actions to increase the number of visitors by 20% in 2012 if compared to 2010.

10 million visitors would contribute $8.5 billion in revenue, compared to $6.8 million in 2010, according to estimates from authorities.

Jorge Samayoa, Guatemalan Tourism Minister and host of the event where regional tourism authorities discussed several issues, explained that they will attempt to position the brand “Central America, so small, so big” (Centroamérica, tan pequeña, tan grande) in the international market.

$45 million for Two Tourism Projects in El Salvador

March 2009

Two tourism projects, one on the beach and another on the mountains, are being built in Chalatenango and Usulután.

The projects have a total investment of $45 million and are being developed by entrepreneur Jose Ramon Barahona from El Salvador along with US investors. They consist of a golf and fishing club in Usulután and a mountain tourism project in Chalatenango which would begin to operate in late 2010 or early 2011.

$3.534 million for tourism projects in Panama

January 2009

In 2008 the Panama Tourism Authority approved 96 tourism projects that will generate 15,000 direct jobs.

According to "These projects were received before August 30, 2008, the final date established by law to hand in the documents and up to December 31 2008 for them to be reviewed and approved, in order to benefit from the fiscal incentives granted by Law 58 (28 December 2006), which promotes tourism development in the country.

Panama: $1.76 billion in new hotel projects

September 2008

The Panama Tourism Institute (Ipat) received 56 new hotel projects between August 27 and 30.

According to a report from Ipat to which La Prensa had access, these hotels will generate 8,207 jobs and create 5,938 rooms. If these new projects are added to those that are already in process or those that have not yet been registered at the National Registry, the Panama Tourism Authority has a portfolio of 104 projects which is equal to an investment of $3.63 billion that will generate 16,039 jobs and 22,227 rooms.

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