These benefits could be extended if the company invests, in the 10 year period, at least 35% of the original sum.

Nicaragua wants to enlarge its hospitality offering, currently 7.800 at hotel rooms, to compete with its neighbors. Costa Rica, for example, has 38,000.

In 2009 the number of tourists fell in all Central America with the exception of Nicaragua, that received 8% more visitors than in 2008.

Another initiative being discussed by the government and investment promotion agency ProNicaragua is the development of a state-owned hotel network, similar to Spain’s “Paradores”.

Source: Hosteltur.com

More on this topic

Agreement Between Barceló and Nicaragua to Build Airport

October 2012

A partnership has been formed between the Nicaraguan government and the Spanish group Barceló to build an international airport in the Montelimar resort, in San Rafael del Sur.

An article in Laprensa.com.ni reports that "The Government of Nicaragua and the Spanish hotel group Barceló have signed an agreement to build an international airport in the Montelimar resort, in the Pacific, officials said on Sunday.

Nicaragua: FDI to Grow 20% in 2011

January 2011

$ 600 million investment is projected for this year, 20% higher than 2010.

Javier Chamorro, Executive Director of ProNicaragua noted that in 2010 the energy, telecommunications and free zones had the biggest growth, followed by tourism. This year projections estimate that investments will again concentrate in these sectors.

Nicaragua Promotes Itself in Europe

June 2010

The country is promoting in Europe its new fiscal incentives for tourism investments.

Nicaragua gets just 10% of its visitors from Europe. 30% are from the U.S and the remaining 60% from Central America.

Mario Salina, Nicaraguan tourism Ministry, and ProNicaragua’s tourism advisor, Laureano Ortega, explained the new incentives plan, which includes “fiscal incentives, easier red tape, … and the new Coasts Law”, reported Prensa.com.

Spain's Barceló plans three more hotels for Central America

May 2008

Spain's Barceló hotels group announced plans to build three more hotels in Central America.

Speaking in Managua, Juan José Ribas, the chain's regional director, said one of the new hotels would be built in the Nicaraguan capital and another in Panama. He did not say where the third would be built.