Because only two airlines currently operate in Nicaragua and there is no certainty when other companies will reactivate their flights, entrepreneurs in the tourism sector remain uncertain.
Due to the covid-19 outbreak, the country was left without an air connection, as the airlines decided to suspend their operations due to the low number of travelers who were willing to travel in this context of the pandemic.
Although in Costa Rica during December 2020 most businesses increased their sales by about 10%, the expectations of the sector's entrepreneurs for the first quarter of 2021 are still uncertain.
The year 2020 was marked by an economic crisis, which was generated by the outbreak of covid-19 at a global level. In this context, the Costa Rican commercial sector managed to oxygenate its finances with the end of the year celebrations.
In the context of the health crisis generated by the outbreak of covid-19, businessmen of the sector foresee that at the end of 2020 the tourism industry will add revenues of about $176 million, an amount that would be 66% less than that reported in 2019.
The estimates of the National Chamber of Tourism of Nicaragua (Canatur), are more pessimistic than the projections of the Nicaraguan Institute of Tourism (Intur), since according to the business association the income will amount to $176 million and according to the government institution it will add $216 million at the end of the year.
Betting on sales through digital channels, offering dishes at more accessible prices and carrying out promotions are some of the strategies that some casual dining restaurants that compete in the Costa Rican market seek to apply.
The spread of covid-19 severely affected the restaurant sector, especially businesses that did not sell through digital channels or did not have options to deliver their products to their homes.
Due to Costa Rica's estimated average hotel occupancy rate of 52% by 2020, well below the 95% recorded at the end of 2019, businessmen in the sector expect that in this context of crisis there will be no peak seasons next year.
The tourism sector is one of the hardest hit by the economic crisis generated by the outbreak of covid-19, because mobility restrictions, the closure of air terminals and the fear of tourists to be infected, have influenced the drastic fall in tourism activity.
Although sales are not expected to exceed those of the 2019 Christmas season, businesses expect revenues to be robust in the context of the pandemic, a situation that could be enhanced by the dynamism of digital channels.
The spread of covid-19 generated an economic crisis, which for most of 2020 significantly affected the commercial sector. Despite the fact that in the context of the new business reality and changing consumer habits, commercial establishments are still in the process of adapting, there is optimism among businesspeople regarding end-of-year sales.
Although most activities in the country reopened at the end of August, hotel occupancy levels are still low and business people fear they will be forced to cut more jobs or close operations.
In the context of the economic crisis that Costa Rica is going through due to the pandemic, businessmen from the commercial sector reported that the "Black Friday" sales of 2020 were similar to those of 2019.
Despite the drop in commercial activity generated by the covid-19 outbreak, executives of the Chamber of Commerce reported that sales reached an acceptable level, which can be explained, in part, by the commercial strategies applied by the establishments.
Promoting a risk management culture, defining possible scenarios by turning uncertainty into a variable and preparing to safeguard the company's operational continuity are some of the most important strategies for facing the coming year.
The pandemic that generated the spread of covid-19, caused changes in all business sectors and also generated an environment of uncertainty regarding the future of the economy.
Due to the suspension of several projects and the political, economic and fiscal situation in Costa Rica, it is expected that the economic activity of the construction industry will close the year in the red and for 2021 a scenario of much uncertainty is predicted.
Since the beginning of the political crisis in 2018, the activity began to decline, the trend continued in 2019 and by 2020 the expectation is that the fall in investments in the sector will be more acute, mainly private ones.
Official data indicates that between 2017 and 2018 investment in private construction projects decreased by 17%, from $1,106 million to $914 million.
The next U.S. president is not yet known, but in the region it is expected that in an eventual new Trump administration, the focus will be on the recovery of the U.S. economy, while an eventual Biden administration would focus on countering corruption and illegal migration.
Two days after Election Day took place, the United States is experiencing an atmosphere of tension and uncertainty, since because the results are closed, neither candidate can yet be declared the winner.
According to IMF forecasts, Panama and El Salvador are the economies that in 2020 will report the worst falls in their production, while Guatemala would be the country in the region that would emerge best from this economic and health crisis.
Due to the severe economic crisis generated by the covid-19 outbreak, the economic growth projections calculated by international organizations are not at all encouraging for Central America.
Agriculture, Financial and Insurance Activities, and Real Estate Activities, are the sectors that in Guatemala and in the context of the economic reopening, have increased their growth forecasts for 2020.
In June, when mobility restrictions were severe in the country due to the outbreak of covid-19, the Bank of Guatemala (Banguat) predicted that by the end of the year, Agriculture would grow by 1.1%, Financial and insurance activities by 2% and Real estate activities by 2.8%.
In Guatemala, since October 1st, shopping malls have reactivated their operations, and businessmen in the sector estimate that sales will be 40% of the levels reported before covid-19.
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