Tough Times for Tourism

At the end of 2017 and beginning of 2018, touristic companies in Nicaragua were reporting a good performance, but the political situation in the country has generated a crisis that is still unsolved.

Tuesday, December 11, 2018

In 2017, tourism generated $840 million in revenue for the Nicaraguan economy, 31% more than in 2016, growth that improved the companies' expectations at the beginning of the year, since in the first quarter of 2018 the forecasts were that by the end of this year revenues could reach $900 million.

See "Fewer and Fewer Tourists in Nicaragua"

According to data from the Central Bank of Nicaragua, the economic activity of hotels and restaurants in September this year registered a 27% decline when compared to the level reported in the same month of 2017.

Some hotels have opted to lower prices to try to attract more tourists. César Lombardosi, general manager of the Hotel El Colonial in Granada, explained to that "... At the hotel, we have a preferential room at US$50, when it normally costs US$100."

Also see "Tourism: Nicaragua Disappears from Radar"

Regarding the future of tourism in Granada, the article adds that "... Although the high season starts in November, some tourism agencies have not registered any reservations, previously being the natives of Europe, Canada, Austria and Holland the principal income generators for the tourist business in Granada at this time of the year."

"Those who keep their businesses do not lose hope of a better situation. Granada was one of the favorite destinations for foreign investors in tourism, and now uncertainty prevails."

Nicaragua is not the only country reporting difficulties in the tourism sector, since in Costa Rica there have been acts of violence against foreign tourists in recent months.

On the matter, the Costa Rican Chamber of Hotels through a statement issued last week said that "... Hotel businessmen with operations throughout the country insist that the main responsibility in the fight against insecurity should be clearly attributed to the State but warn that the private sector is fully willing to help and collaborate." See full statement.

On the other hand, tourism in Panama is not experiencing the best time, as in the first eight months of the year received 1.65 million tourists, 2% less than those reported in the same period of 2017.

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