Local Tourism: A Lifeline During the Crisis?

Because the number of foreign visitors arriving to Nicaragua has decreased considerably, during 2019 businesses in the sector were kept afloat by the income generated by national tourists.

Friday, January 24, 2020

According to the report "Situation of Micro, Small and Medium-Sized Tourism Businesses in 2019", prepared by the Nicaraguan Foundation for Economic and Social Development (Funides), 62% of the businesses surveyed stated that at the time of the survey they had fewer workers than in March 2018, weeks before the crisis broke out.

You may be interested in "Tourism and Travel: Consumer Interests and Preferences"

The reception of foreign tourists in the tourist businesses surveyed has been reduced from 62.7% in 2017 to 29.8% in 2019. While the proportion of domestic tourists received by tourism businesses increased from 37.3% in 2017 to 70.2% in 2019, the document details.

The document adds that "... The sales revenue of the surveyed tourism businesses decreased 57.1 percent in 2018 compared to 2017. In the first half of 2019, sales decreased on average 51.1 percent compared to the first half of 2017.

In addition, 54.5 percent of respondents believe that their sales in the first half of 2019 were lower than in the first half of 2018. During the first half of 2018, the fall in revenue in the second quarter of the year was offset by the positive performance of the sector in the first months of the year.
"

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More on this topic

Nicaragua: Tourism Revenues Go Down 56%

July 2019

During the first quarter of 2019, tourism revenues totaled $113 million, 56% less than reported in the same period of 2018, because of the crisis that the country has been going through for more than a year.

According to figures from the Central Bank of Nicaragua (BCN), between the first quarter of 2018 and the same period of 2019, tourism revenues decreased by $143 million, from $256 million to $113 million.

Companies Struggle Through the Crisis

June 2019

After 14 months of socio-political crisis in Nicaragua, companies in the country face a reduction in consumption and investment, as well as the impact on national economic activity of rising unemployment.

According to studies conducted by the Consejo Superior de la Empresa Privada (COSEP) and the Nicaraguan Foundation for Economic and Social Development (FUNIDES), the local economy faces a contraction in economic activity that continues to deepen, prevailing uncertainty and distrust in consumers and investors.

Million-dollar Losses for Tourism

February 2019

Because of the crisis affecting the country since April last year, it is estimated that during 2018 the losses of the Nicaraguan tourism sector totaled $440 million, and more than 62 thousand jobs disappeared.

The arrival of tourists to the country is another figure reporting a considerable decline last year, since between 2017 and 2018 the number of visitors who came to Nicaragua fell 55%, going from 1.7 million to 800 thousand.

Tourism Decreases in Guatemala

January 2012

During 2011 the sector experienced a fall of 2.8% in the number of tourists and 2% in foreign exchange earnings.

Tourism in Guatemala decreased by 2.8% in the number of tourists in 2011 and foreign exchange earnings was reduced by 2%, said the tourism authority in the country.

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