The maximum amount that the Tourism Authority will provide will be $20 million a year, and it may also receive private contributions and contributions from international organizations.
In contrast to what was initially proposed, the Tourism Authority of Panama will not allocate more than $20 million for the tourism promotion fund. These resources will come from the revenue generated by tax collections at Tocumen airport.
Hard Rock International announced the new 294 room all-inclusive Hard Rock Hotel Papagayo, which is set to open by early 2019.
From a statement issued by Hard Rock International:
ORLANDO, Fla., Jan. 19, 2017 /PRNewswire/ -- Hard Rock International makes waves today as it announces plans to bring the Hard Rock Hotels experience to Costa Rica with the all-inclusive Hard Rock Hotel Papagayo, Costa Rica. Hard Rock, in collaboration with Sunwing Travel Group, is set to open Costa Rica's first Hard Rock Hotel by early 2019. The brand's strategic partnership with Sunwing Travel Group, the largest tour operator in North America, provides the perfect opportunity for future growth within the region. With Hard Rock and Sunwing Travel Group's shared vision of providing authentic experiences in word-class destinations, this new partnership paves the way for potential collaborations in both the Caribbean and Latin America.
A third and final call has started for companies and investors interested in participating in the development of projects in the program 'Apuesta por InversionES'.
Applications are open for national and international companies with the financial capacity to invest anywhere in the country.
Elsalvador.com reports that "...Interested investors should do so in a new project or expansion of an existing one in the category of tradables, which includes goods or services that can be traded internationally, said a statement issued by Fomilenio II.These are projects that can be set up in any part of the country, with a minimum investment of $100,000 by the applicant. "
The union of private companies is preparing a plan for promoting tourism development in San Juan del Sur and Tola, where more than $130 million has already been invested.
The area of San Juan del Sur and Tola, Rivas, has all the characteristics needed to become a tourist destination, but basic infrastructure in the area needs to be improved along with conditions to attract more foreign investment.
On June 21 and 22 local and foreign tourist companies will be meeting to discuss issues such as using technology as a tool for promotion and hearing about successful experiences from other countries.
From a statement issued by the Tourism Authority of Panama:
The Tourism Authority of Panama (ATP) and the Panamanian Chamber of Tourism (CAMTUR) will be holding from June 21 to 22 the first National Tourism Convention "Juntos por Panama" (CONATUR), to establish a strategy with all stakeholders in the sector, which will strengthen the country's tourism supply.
Up to December 2015 2.559 hotels with 47,452 rooms were registered in the country, of which 70% are located in the city and at the beach.
Market figures have not yet reached the levels recorded before the crisis of 2008, when the Costa Rican Chamber of Hotels counted 2,599 hotels in operation, spread across different areas of the country, but are instead concentrated in the large metropolitan area and coastal areas.
The Costa Rican Tourism Institute is inviting companies in the sector to participate in international events.
In a press release issued on a large scale on July 13, 2015 in a single printed media format, the Marketing Department at the Costa Rican Tourism Institute (ICT) called on companies to register their interested in participating in international fairs in the second half of 2015 and the first of 2016.
Investments include an airfield in Tola, residences in Sardina beach and modernization work in the ports of San Jorge and San Juan del Sur.
Investments totaling $43 million, are distributed with $20 million for the residential project in beach Sardina, $12 million for the airport in Costa Esmeralda, $8 million to modernize the port San Jorge and San Juan, with the remaining funds being used in other related works.
The company Toscana Azuero has announced that it will build a hotel and a housing complex in Playa El Toro, in the province of Los Santos.
Complaints by the hotel industry regarding the low occupancy rates of their rooms due to an apparent excess in the number of hotels, do not seem to have affected the boost in investment in the sector, particularly in areas outside of Panama City, where the largest number of rooms is reported.
When it comes to making a choice, there is a clear preference by travelers for "green" hotels and tourism products, confirming that the sustainability of the tourism business only makes sense when the sustainability of the area is guaranteed.
In her blog in Elfinancierocr.com, Katiana Murillo highlights the growing preference of tourists worldwide for hotels which have environmentally friendly practices, even if it means paying higher rates.
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