Optimism from Panamanian Hoteliers Facing the Crisis

Jorge Loaiza, President of the Panamanian Association of Hotels, believes that the sector will not suffer much from the crisis.

Wednesday, February 25, 2009

In an interview with La Estrella de Panama, the businessman shared his expectations about the economic crisis and his perspective on the state of the Panamanian tourist sector.

Particularly, he indicated that the union expects a tourist increase of 10% to 12%, and he justified his expectation in the context of new air routes to the country.

In the interview, it is indicated that: "The president of APATEL does not believe that the tourism sector will suffer much due to the crisis, but he is conscious that there will be adjustments."

More on this topic

Too Many Hotels in Panama?

April 2011

If growth in the number of tourists doesn’t reach 25% per year, hotel occupancy will fall from the 74% seen in the first quarter of 2001, to just 50% over the coming years.

Panama is growing and so are the number of hotels, which in 2012 will be offering over 27 thousand rooms.

Panamanian Hotel Investment Goes On Despite Crisis

July 2009

Despite feeling the crisis, investment in some sectors remains remarkably high, among them Hotels.

An article in Martesfinanciero.com indicates that "Reports from the General Comptroller of the Republic reveal that 110.487 passenger enetered the country in May, a drop of 18.0% when compared to the same month of 2008, when 134.784 people where registered".

Tourism Down Less than Expected

April 2009

In Costa Rica, the business sector expected a greater drop in the level of reservations for this past Easter.

The study "Perceptions of Costa Rican Tourism Entrepreneurs on the Effects of the Economic Crisis on the Tourism Industry" conducted by the National Chamber of Tourism shows that 71.2% of the entrepreneurs in the sector who in March had projected a decrease in reservations for Easter Week with respect to 2008, only 51.7% still believe that reservations were lower."

Old days were better days in Nicaragua

June 2008

You don't need to be an economist to see that in Nicaragua things were better in the past, and if we don't change direction the country will fall over a precipice, says Fernando Centeno Chiong.

In an opinion piece in the Nicaraguan newspaper La Prensa, Centeno says a recent report shows that expected economic growth this year will be about 2.5 percent.

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