In Panama, there are plans to develop in Bocas del Toro, Chiriqui, Archipelago de las Perlas and Punta Chame, five lodging projects that seek to benefit from the Law on Incentives for Tourist Investments.
Law 122 of December 31, 2019, which dictates incentive rules for the promotion of tourist activities in the interior of the Republic, attracted projects for the country, for a total value of $371,843,971 in new tourist investments, to be built in areas with great tourist potential, informed the Presidency of Panama.
CIFI and BID Invest authorized a loan for West Report S.A. to develop, build and operate a hotel complex in Bocas del Toro.
The new hotel, which will have 118 rooms, several restaurants, a spa and other meeting places for its guests, will be operated under the brand name Viceroy Hotels and Resorts, reported CIFI.
In Panama, a bill was approved that will grant tax exemptions until 2025 to those who make investments in hotels and recreational activities.
On December 31st, President Cortizo sanctioned the bill that provides tax incentives to the tourism sector by modifying some of Law 80 of November 8th, 2012.
Because the legislation currently does not allow the collaborative hosting economy platform to operate in the country's capital, the company expressed an interest in working with the authorities to remove the ban.
For now, the platform only offers the public accommodation in the interior of the country, the most popular destinations being Bocas del Toro, Río Hato, Boquete, Chiriquí and Playa Gorgona.
The updated plan to develop the Amador Causeway proposes taking advantage of the stretch between the Biomuseo and Naos Island, and building recreational areas on platforms on piles there.
The Administrative Unit of Reverted Property (Uabr) reported that the study of the master plan updated by the firm Tourism, Business & Planning (C4T), recommends the installation of six platforms that will house recreational areas, which would be built on piles overlooking the entrance to the Panama Canal. "...They would be a kind of piers or platforms on piles, where various businesses would be operating. "
A highway in Panama, a tourist center in Costa Rica and a high rise residential complex in Guatemala, are some of the projects planned for the coming months in the region.
The interactive system "Construction in Central America", compiled by the Business Intelligence Unit at CentralAmericaData, includes an up to date list of public and private construction projects that are planned in the region.
The company would be willing to charge the lodging tax in Panama if the restrictions on the rental of real estate for tourism purposes were eliminated, and if the data on property owners was protected.
These are the conditions that representatives of the property rental platform proposed to the Panamanian government to begin negotiating the possible collection of the 10% lodging tax, also paid by hotels, in order to formalize their operation in the country.
Businessmen from the Panamanian tourist sector welcome the arrival of Air China flights in March 2018, but consider it will be a challenge to attract a type of tourist that seems to prefer very different destinations than those offered by Central America.
In a region which for many years has specialized in serving North American tourists and more recently Europeans, preparing to provide the attention demanded by tourists from China will be a challenge, according to the Panamanian tourism entrepreneurs themselves.
Details of the ten most valuable construction projects in terms of investment, for which environmental impact studies were submitted in the last twelve months.
Of the 10 most important construction projects for which Environmental Impact Studies were submitted to the Ministry of the Environment between August 2016 and July 2017, four are to be developed in the province of Colón, with an estimated investment of $2 billion.
In the past 12 months, 78 environmental impact studies were submitted to develop hotels, marinas, clubs and beach residences in Central American countries.
Data from the interactive platform "Construction in Central America", compiled by the Business Intelligence Unit at CentralAmericaData:
The standard establishes minimum criteria for tourism companies to include in their sustainability standards in order to raise competitiveness at the national level.
From a statement issued by the Tourism Authority of Panama:
The Tourism Authority of Panama (ATP) announced the Panama Tourism Sustainability Standard on July 5, a standard which was developed jointly with the Ministry of Environment (MiAmbiente) and the Ministry of Commerce and Industries (MICI), after extensive national consultations, adjustments and training in recent months, both with the private sector, NGOs, community groups and academics.
The average european tourist plans trips less than a year in advance and searches and books tour packages via the internet, without using intermediaries.
A study by the Costa Rican Tourism Institute to identify best prospectsfound that"... generally Europeans decide on their holiday destination less than a year in advance and in most cases organize their trips independently i.e., without using intermediaries. It was also found that the most used methods of finding information include recommendations from friends, search engines and online travel agencies and websites promoting the destinations.
A plan is being made to develop residential buildings and a 614 room hotel complex in a 25 acres area in the touristic area of Rio Hato, Panama.
The promoter of the project, Agro Playa Blanca SA, detailed in the Environmental Impact Assessment (EIA) submitted to the Ministry of Environment, that the development will be called "Agro Playa Blanca Phase II", and will be built in Rio Hato, district of Antón, province of Cocle.
The growth experienced in the area has led to the Unit of Reverted Properties to postpone the sale of lots in Amador and Sherman in order to update development plans anticipated in that area.
It's not just the projected fourth bridge over the canal and the convention center being built in Amador, but also the future Metro Line 3, which connects the east of the city with the districts of Arraijan, Capira, Chame, La Chorrera and San Carlos.
The company Toscana Azuero has announced that it will build a hotel and a housing complex in Playa El Toro, in the province of Los Santos.
Complaints by the hotel industry regarding the low occupancy rates of their rooms due to an apparent excess in the number of hotels, do not seem to have affected the boost in investment in the sector, particularly in areas outside of Panama City, where the largest number of rooms is reported.