Panama: $31 Million for Tourism Promotion in 2011

Of the total 2011 $48.4 million budget, the Tourism Authority will put 64% toward promoting the sector.

Monday, August 30, 2010

This includes $10 million for a publicity campaign and $4 million to promote the country for conventions and event holding.

"To encourage the hosting of conferences in Panama, the Tourism Authority will offer events for 500 people or more the Atlapa Conference Center, free of charge," reports

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ATP to Control Tourism Advertising in Panama

March 2012

The Tourism Authority of Panama (ATP) is to take direct control of the $6 million budgeted this year for the international advertising campaign.

From 2012 onwards, the ATP will handle the international advertising campaign, buying space directly in respective countries. For the last 4 years an advertising agency, winner of a public tender in 2007, has managed the campaigns.

Guatemalan Congress Approves 2012 Budget

November 2011

Congress has passed the General Budget of Revenues and Expenditures of State for Fiscal Year 2012, amounting to $7,624 million.

A press release by the Congress of the Republic of Guatemala reads:

With 100 votes and the opposition of the National Unity of Hope and Renewed Democratic Freedom bench, the House of Congress approved Decree 33-2011, which approves the General Budget of Revenues and Expenditures of State for Fiscal Year 2012, amounting to 59, 547 million quetzals ($ 7,624 million), 70 % of which is to be funded from income tax, as well as the placement of treasury bonds amounting to 7,500 million quetzals ($ 960 million).

Canal to Net Panama $950 Million

September 2011

Panama's National Assembly has approved the 2012 Canal Authority’s budget, projecting record revenues and transfers to state coffers.

A press release by the Panama Canal Authority reads:

Canal Assembly Approves Budget

PANAMA CITY, September 1, 2011 - The National Assembly approved on Thursday, in the third debate, the budget of the Panama Canal Authority for Fiscal Year 2012 which expects revenues of B/.2, 398.9 million.

Panama Allocates $6 Billion for Social Investment Budget

August 2010

The $13 billion budget presented to the General Assembly is almost $2.5 billion more than in 2010.

The article in reports that Panama's Minister for Economy and Finance, Alberto Vallarino, commented that, "of the $13 billion state budget, almost $6 billion (46% of the total) will go towards social welfare projects including the National Development Convention and fund sectors such as health, education, housing, transport, tourism as well as small and medium sized businesses".

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