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.
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.
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 new executive order establishes the requirements which must be followed in order to qualify for government incentives to develop tourism activities.
Entrepreneurs interested in applying for these benefits "... must submit to the Directorate General of Revenue a certificate from a competent authority to verify that they have made an investment related to tourism."
In order to achieve maximum growth potential and position themselves as a major destination in the region, it is imperative to update the Master Plan for Tourism, developed in 2007.
In the view of tourism enterprises, some of the factors that need to be strengthened are related to the creation of a plan to boost tourism products, work with indigenous regions to boost tourism in these areas, update sector priorities and above all to create the concept of clusters, "... conglomerates which form a more integrated tourist circuit."
The government announced that it will construct the stations at 80 kilometer intervals along the Pan American Highway and they will feature restaurants, parking and small stores.
From a statement issued by the Tourism Authority of Panama (ATP):
PANAMA September 25 (ATP) - The Tourism Authority of Panama (ATP) has developed a series of initiatives such as tourist resorts along the Pan American Highway, informed the Administrator of the institution, Jesus Sierra Victoria during the XIV International Tourism Forum PANAMCHAM, which took place at the Sheraton hotel.
So far this year $82 million has been invested in tourism projects outside of Panama City, but the business sector has indicated there are obstacles to further development.
Law 80 of 2012, which provides tax incentives for tourism investment outside of Panama City has produced results, say entrepreneurs, but government support is still needed to remove some obstacles that prevent the development of tourism outside the capital from being even greater.
In the Summer Fair to be held on the 28th and 29th of March tourism companies from Latin America and the U.S. will see the country's tourism supply.
On the 28th and 29th March the second edition of the Summer Fair will be held in Nicaragua, in which tourism businesses from Latin America and the United States will get to see the tourism services on offer in the country, confirmed the National Chamber of Tourism (CANTUR).
Go Blue Central America is an interactive map to share with the rest of the world the uniquiness and authenticity of the marine and coastal areas of Central America.
The U.S. Agency for International Development (USAID) and National Geographic (NatGeo) presented "Go Blue Central America", an interactive map on the internet designed to promote tourism in the Isthmus.
Despite the downturn in the major economies, more and more tourists traveling the globe are looking for the kind of experiences that Central America has to offer.
The opportunities are there. Demand for tourist destinations such as the ones Central America can offer is firm and is increasing every year.
What is essential is that the quality of tourism services on offer be increased, particularly ensuring that tourists are not affected by the criminal violence that pervades the region.
The Ministries of Tourism in Central America have announced their intention to form a regional strategy to promote tourist destinations in the isthmus.
Reinforcing some intentions expressed in previous ministerial meetings, the government sector is proposing offering tourists the region "in one trip."
An article in Prensalibre.com reports that the chief executive of the Nicaraguan Institute of Tourism (Intur), Mario Salinas, said: "We are going promote on the website, in European tourism fairs, two, three, four, five countries (as a destination), and not promote Panama or Nicaragua only, we will encourage (them to come and see) Central America. "
In 2011 $405 million was invested in projects in the tourism sector, and 2012’s investment is estimated at $842 million.
From a press release from the Tourism Authority of Panama (ATP):
There is no doubt that tourism in Panama is taking giant leaps when beach projects are attracting thousands of visitors from around the world who choose to come to the isthmus to have their best vacation ever.