Nicaragua: $17 million More for Tourism Projects

So far in 2013 the Nicaraguan Institute of Tourism has added $50 million to projects in the tourism sector.

Friday, October 18, 2013

"A total of $50.1 million has been approved by the board of incentives in its first nine sessions, which has superseded the goals set for 2013," said Mayra Salinas, chief executive of the Nicaraguan Institute of Tourism (Intur).

There are still two more sessions so the amount designated for tourism projects could go up. Official figures show that last year the Intur approved $32 million.

Elnuevodiario.com.ni reports that "of the 34 projects approved so far in 2013, eight are for hotel infrastructure, ten for investment plans, and five projects for food, drink and entertainment, including a public site project for cultural tourism interest ".



More on this topic

Tourism in Panama vs. Costa Rica

February 2016

Panama received 2.5 million tourists in 2015 and double the amount of foreign income received by Costa Rica from the 2.6 million who visited that country in the same year.

The number of tourists who went to Panama in 2015 exceeded by 10.7% the amount recorded in 2014, according to the Tourism Authority of Panama.

$20 million Awarded in Tourism Incentives in Nicaragua

May 2013

During the first quarter, the Intur approved tourism incentives for the purchase of aircraft and three hotel projects.

"Between January and March this year, the Nicaraguan Institute of Tourism (Intur) approved $20.5 million for tourism incentives for small and medium businesses, and expects to increase that amount to more than $51 million at the end of the first half of 2013 ", reported Laprensa.com.ni.

Nicaragua Expects $140 million in Tourism Investment in 2012

January 2012

The figure represent an increase of 15% compared to last year, according to the tourism authority.

The Nicaraguan government expects tourism related investment to reach $140 million in 2012, which is 15.7% more than last year.

The head of legal department of the Nicaraguan Institute of Tourism (Intur) Omar Oporta, said that in 2011 national and foreign investment in tourism reached $121 million.

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.

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