Panama's tourism development incentives

The latest law of incentives created by the panamanian government is Law #58 of December 28 2006, which was implemented to promote tourism development which previously had no incentives.

Sunday, May 4, 2008

Under this law any hotel, apart hotel, cabañas, hostel, and time sharing will benefit from this law. The incentives are extensive and carry out to cover golf courses, tennis courts, saunas, gyms, discotheques, restaurants and convention centers and even marinas, as long as they are integrated and retlated into the hotel industry investments.

More on this topic

Nicaragua Approves Tourism Incentives for $16 million

March 2015

A hotel in Estelí is part of the projects that will benefit from the tourism incentives approved by the Nicaraguan Institute of Tourism so far this year.

From a statement issued by the Nicaraguan Institute of Tourism (INTUR):

TOURIST BOARD APPROVES OVER 10 MILLION DOLLAR INVESTMENT FOR TOURISM

Incentives for Convention Tourism Removed

August 2014

According to tourism businesses in Panama, eliminating benefits for this segment of the touristic market will hurt an activity which contributes $300 per day per tourist.

The Tourism Authority of Panama (ATP) stated in Panamanian media that "... from January, the rental of Atlapa Convention Center will not be free for anyone" ... claiming that it costs money both for the State and the authority responsible for tourism.

Tax incentives foster tourism development in Panama

August 2008

Law #8 promotes tourism activities in the country by offering tax relief on imports, real estate and capital investments, to name a few.

A report by the Panama Tourism Institute (IPAT) reveals that 12 investment projects totaling $92.5 million have been approved.
This will be the last year in which capital investment projects can benefit from Law 8, a measure designed to foster investment in the country's interior, Carl-Fredrik Nordström, Assistant Manager of IPAT, pointed out.

Beyond butler service

June 2008

Luxury travel used to mean butler service at a four-star hotel. Today, it’s owning a condo or a golf villa by the sea.

Despite an ongoing debate about the benefits and pitfalls of residential tourism, Central American governments are modifying their fiscal-incentives laws to regulate and grant residential tourism projects the same breaks given to traditional tourism investments and operations.

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