Nicaragua: $56 million in Tourism Exemptions

Up until May incentives have been authorized for 22 tourism investment projects, including the construction of the airport in Costa Esmeralda, for $12 million.

Monday, June 23, 2014

Tourism growth and incentives granted to investment projects in the tourism sector are boosting investment in the country, which, according to estimates by the Nicaraguan Institute of Tourism, will amount to $400 million in the year.

"... Up until May, the board of tourism incentives at the Nicaraguan Institute of Tourism (Intur) approved the exemption of $56.2 million in the form of incentives for 22 investment projects, according to data provided by the Chamber of Tourism of Nicaragua (Canatur) and the Nicaraguan Chamber for Micro, Small and Medium Tourism Enterprises (CANTUR). "
"...The growth in the number of visitors up to April is 7.4 percent. The countries of origin with the highest number of visitors were England, with 12.5 percent, and the United States, with 9.1 percent, while in Central America more Hondurans visited the country, with a 7.5 percent increase, according to figures from the Nicaraguan Institute of Tourism ".

"... In the first quarter of the year 440,531 tourists arrived in the country ... " "... 26 45,234 cruise passengers and crew arrived, of which 31,839 disembarked."



More on this topic

Nicaragua: Incentives Lead to Growth in Tourism

January 2016

Growth of 9% per year is part of the rewards brought about by incentives for the sector and the opening up of government by working in partnership with private enterprise.

Incentives for tourism have been vital to the creation of new projects in this sector. This is the view of Leonardo Torres, president of the Nicaraguan Chamber of Small and Medium Tourism Enterprises (Cantur), who spoke to Elnuevodiario.com.ni.

Nicaragua Approves Tourism Incentives for $16 million

March 2015

A hotel in Estelí is part of the projects that will benefit from the tourism incentives approved by the Nicaraguan Institute of Tourism so far this year.

From a statement issued by the Nicaraguan Institute of Tourism (INTUR):

TOURIST BOARD APPROVES OVER 10 MILLION DOLLAR INVESTMENT FOR TOURISM

Exemptions for Tourism in Nicaragua

October 2012

Investments under $50,000 do not receive the tax benefits enjoyed by investors of larger amounts.

The Nicaraguan Chamber of Small and Medium Tourism Businesses (CAMTUR), has asked the Nicaraguan government to contemplate extending exemptions for investments in tourism to small businesses.

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.

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